(BPT) - Partnership in times of flux is a leading contributor for innovation, agility, scale and growth. This is the message from Leo Clancy, CEO of Ireland's international trade development agency Enterprise Ireland, in advance of St. Patrick's Day 2022 as he points to unprecedented commercial gains from partnerships between Irish companies operating in the United States and their U.S. counterparts. Clancy reports Ireland as the ninth source of Foreign Direct Investment to the United States economy at $240.1 billion and that employment in the United States by Irish firms exceeded 100,000 in 2021.
'A key lesson from the past few years is that we are better together,' Clancy explains. 'American firms have learned that they can rely on Irish partners in challenging times and that they'll get the ideas, the innovation and the depth of partnership required to capture growth and navigate shifting sands. Ireland is stable, strong and resilient, and our firms typically share those national characteristics.'
'Irish companies are making a significant impact internationally - employing over 1.2 million people across the world and creating solutions for global challenges. To mark St. Patrick's Day and the positive impact that Irish businesses are delivering across the world, we have launched an international campaign 'Ireland: Innovation at the Edge' highlighting the unique conditions at play in Ireland which have led Irish companies to be among the most innovative in the world. Innovation lives where the edges of industry connect - where risk meets opportunity, where research meets industry, where potential meets ambition. Ireland is where those edges meet. Our unique location and ecosystem allow the edges of industry to connect and innovation to thrive,' added Leo Clancy.
As CEO of Enterprise Ireland, Leo Clancy's responsibility is to support Irish firms operating internationally. His organization is a globally-ranked seed investor (#1 globally by deal count, according to Pitchbook) and also provides organizational, developmental and market-level services to Irish firms in international markets, not least the United States.
Enterprise Ireland's message of partnership and cooperation for greater mutual gains aligns with key strengths of the United States and has strong resonance within the United States' international business community. Enterprise Ireland has supported Irish businesses in North America across a wide array of industries, but has seen considerable growth in cybersecurity, digital media and talent tech. The increased growth in these areas is considered a byproduct of global digital transformation coupled with pandemic-driven surges in remote working and in labor mobility.
Ireland's cybersecurity ecosystem is populated by strong and diverse contributors including Tines, a security orchestration, automation, and response (SOAR) platform; TitanHQ, a web filtering, email security and email archiving SaaS business; Edgescan, that addresses vulnerability management with a (SaaS) offering; CWSI that specializes in secure mobile and workforce solutions; and PrivacyEngine that offers a SaaS privacy management platform and is a global market leader in data protection and privacy management.
Irish talent tech successes include: Starcircle, a specialist technology provider that supports recruitment at scale; Capella Workplace Solutions, which builds tools and hot-desking software to help U.S. businesses bring employees back to the office safely and seamlessly; Rezoomo, that enables clients to build up talent pools that support scale and growth; vsource, who applies artificial intelligence, search algorithms and skilled human insights to find and engage with candidates; and Techfynder, that empowers employers and IT contractors to find and connect with one another quickly and directly.
Irish digital media and entertainment firms have implemented a spate of successful partnerships in 2021 and 2022 including "Souvenir Part II" from Element Pictures; Cartoon Saloon's upcoming short film "There's a Monster in my Kitchen' and its features "My Father's Dragon" with Netflix; ShinAwil's production of 'Miss Scarlet & the Duke' for A&E Networks; and Element Pictures' production of Sally Rooney's 'Normal People' in partnership with BBC and Hulu.
In addition to the gains in cybersecurity, talent tech and digital media, firms from Ireland and the United States have strong momentum in innovations and deployments in medtech, telehealth, biotech and pharmaceuticals.
Sean Davis, Regional Director - Americas for Enterprise Ireland commented on the success: 'Irish firms and Enterprise Ireland recognize that trust is earned and that trust is the currency of successful business relationships. This is why Irish companies are successful at establishing and sustaining long-standing, mutually-beneficial relationships with U.S. counterparts that yield innovation, employment and success on both sides of the Atlantic.'
Enterprise Ireland is the country's trade and innovation agency and the venture capital arm of the Irish government. It is the world's largest seed-stage VCs by deal count and is dedicated to supporting Irish start-ups achieve their global ambitions. Through a network of more than 40 international offices, Enterprise Ireland supports a portfolio of 1,300 startups, including 60 cyber companies, with over $260 million in annual revenue.