Tech Trailblazers: 20 Irish tech companies visit UK in search of growth capital

Last week, we were delighted to have held our first Tech Trailblazers event, inviting 20 innovative technology companies from across Ireland searching for €150 million in investment to pitch their businesses to UK investors representing combined funds in excess of £1 billion. 

The technology companies at the event showcased the variety within the Irish tech cluster, covering sectors including medtech, biotech, internet of things and martech. Moore Stephens worked with Enterprise Ireland, InterTradeIreland and TechIreland to facilitate the event which culminated in a reception at the Embassy of Ireland, London.

Damian Ryan, Partner, Moore Stephens, said: “In our meetings with Irish technology companies, we found a consistent trend that there is a lack of available growth capital. On the other hand, in conversations with investors in the UK, with Brexit looming many were eager to diversify their funds with European investments. Ireland, with its natural close relationship with the UK is a logical potential partner for these investors and in turn, this would help strengthen the Irish tech cluster and economy.”

Ned Murphy, Managing Partner, Moore Stephens Ireland, said: “Since 2008, in excess of 1,400 Irish SMEs have raised venture capital of €4.8 billion in Ireland and supported the creation of over 20,000 jobs. The challenge remains to support these SMEs beyond the growth capital phase and secure these jobs within the Irish tech cluster.”

Over 200 companies were identified as potential candidates for Moore Stephens’ Tech Trailblazers initiative, having previously raised between €1 million to €5 million of equity funding. Following an intensive application and screening process, supported by TechIreland, this was whittled down to 20 rapidly growing companies. The companies spent the day in central London pitching their business to UK investors representing combined funds of more than £1 billion. The day concluded with a drinks reception at the Embassy of Ireland, London.

Niamh Bushnell, CEO of TechIreland, said: “The quality of companies TechIreland was able to qualify and introduce to Moore Stephens was impressive. There is such a strong cohort of Irish companies raising growth capital right now, and the value of these investor connections in London at this time in their development cannot be overstated.”

Cormac O'Neill, CEO of Webio, said: "Really great day at Tech Trailblazers. The guys in Moore Stephens did a great job, not only did we get quality face time with great VC's, but we also got to network with some fantastic up and coming Irish companies."

To discuss how your Irish tech company can participate in next year’s initiative, please contact Damian Ryan or Ned Murphy.

 

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