Impact report reveals 68% of Pre-Seed Start Fund recipients worked with the four regional Business innovation Centres between 2022 and 2024.
Ireland’s four Business Innovation Centres (BICs) have engaged with more than 1,000 new clients between 2022 and 2024, according to their first joint Impact Report.
The report highlights the significant role the Irish BICs play in supporting start-ups across the country, with 143 successful Pre-Seed Start Fund (PSSF) applications during the reporting period. Notably, 68% of companies awarded PSSF funding nationally worked with the Irish BICs.
“The four BICs have been providing invaluable supports for more than three decades to start-ups right around the country”
The centres also supported companies seeking innovative High Potential Start-Up (iHPSU) status, with 59% of the 157 successful iHPSU applicants nationally having worked with the BICs.
The Irish BICs are supported by Enterprise Ireland and the Department of Enterprise, Trade and Employment.
Power of collaboration
Martin Murray, chair of the Irish BICs and representative of Furthr, emphasised the importance of the collaborative approach. “This impact report is important as it highlights the crucial role played by the Irish BICs in helping innovative start-ups to grow and develop into a successful enterprise,” Murray said.
“The four BICs have been providing invaluable supports for more than three decades to start-ups right around the country. By coming together under the one umbrella, we are strengthening our message that our experienced mentors are on hand to help overcome all the challenges a new business faces.”
Beyond mentorship, the Irish BICs provide comprehensive support to early-stage companies applying to Enterprise Ireland for Pre-Seed Start Fund and iHPSU funding. The centres also collaborate with Enterprise Ireland to deliver capability building programmes, including Prep4Seed, an investor readiness programme.
Conor O’Donovan, Head of Start-Ups and Entrepreneurship at Enterprise Ireland, praised the BICs’ long-standing contribution to the Irish startup ecosystem. “The four BICs have been providing specialised supports and services to start-ups for 35 years. Enterprise Ireland partners with the BICs to accelerate the growth and development of ambitious Irish enterprises on their journey to compete and scale internationally,” O’Donovan said.
“This report highlights the dynamic ecosystem in Ireland for supporting innovative startups such as Ground Wellbeing, Assiduous, Tailr and ByoWave. We hope their success inspires others to contact the BICs for assistance with developing their business proposition.”
Beyond mentorship, the Irish BICs provide comprehensive support to early-stage companies applying to Enterprise Ireland for Pre-Seed Start Fund and iHPSU funding. The centres also collaborate with Enterprise Ireland to deliver capability building programmes, including Prep4Seed, an investor readiness programme.
The four BICs operate across different regions of Ireland: AxisBIC serves Clare, Cork, Kerry and Limerick; Furthr covers Cavan, Dublin, Kildare, Louth, Meath, Monaghan and Wicklow; Propelor supports Carlow, Kilkenny, Laois, Offaly, Tipperary, Waterford and Wexford; and WestBIC operates in Donegal, Galway, Leitrim, Longford, Mayo, Roscommon, Sligo and Westmeath.
Image at top (from left): Rosemary Ward, PropelorBIC; Dan Murphy, AxisBIC; Majella Murphy, Furthr; Martin Murray, Furthr; Mary Ryan, WestBIC; Aidan Shine, PropelorBIC; Fionnuala Wall, AxisBIC and John Brennan, WestBIC. Photo: Shane O’Neill, Coalesce
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