Seven out of 10 indigenous Irish technology firms increased their turnover by an average of 30 per cent last year and six out of 10 are now looking outside Ireland for their main market, according to the latest Technology Outlook Report published by AIB.
As well as having a strong multinational presence in Ireland, there is a scaling indigenous technology sector worth €2 billion in annual sales and employing 30,000 people, accompanied by a buoyant emerging start-up eco-system that has evolved across the country. The study reveals surging confidence among Irish technology companies that they will continue to enjoy significant growth going forward. Some 87 per cent say their outlook for 2014 is better than 2013 and three quarters plan to grow their workforce this year.
There are more than 700 indigenous technology firms and 27 accelerator-incubators (which provide pre-seed funding, training programmes and other start-up supports) now operating across the island, the report reveals.