Seventeen start-ups based in the west of Ireland were among 157 early-stage companies supported by Enterprise Ireland in 2024, with a total of €27.6 million invested nationwide. The funding was delivered through the agency’s High Potential Start-Up (HPSU ) and Pre-Seed Start Fund (PSSF ) programmes.
The figures were revealed at Enterprise Ireland’s annual Start-Up Day conference in Dublin, which brought together more than 600 delegates, including entrepreneurs, investors, government bodies and start-up accelerators. The event celebrated the achievements of the 'Class of 2024' — the latest cohort of businesses to receive state support.
Among the companies backed this year were 90 HPSUs with strong growth potential and 69 ventures supported through the Pre-Seed Start Fund, which provides critical early-stage capital. Of the 157 companies, 63 were located outside Dublin, with 45 led by women. Thirteen of the HPSUs were born from academic research, 25 were spin-outs from third-level institutions, and 34 received support through the Commercialisation Fund programme.
The investment marks the final year of Enterprise Ireland’s three-year strategy, Leading in a Changing World 2022–2024. Throughout the strategy, the agency approved funding for 266 HPSUs and 213 PSSF recipients. Half of these companies were based outside the capital, and the total investment across the period exceeded €78 million.
Celebrating Irish entrepreneurship
Start-Up Day 2024 also featured a pitch competition for university spin-outs that originated from the Commercialisation Fund. Finalists competed for the chance to take part in the prestigious Venture Connectivity Programme at the University of California, Berkeley.
Speaking at the event, Minister for Enterprise, Trade and Employment, Peter Burke TD, said the day was about "celebrating the spirit of Irish entrepreneurship".
He added, "The strong pipeline of innovative start-ups over the last three years shows the extraordinary resilience and business ambition of Irish-founded start-up teams, particularly against the backdrop of a challenging global economic period.
"This Government, through Enterprise Ireland, will continue to provide funding, mentorship, market access and tailored programmes as the stepping stones for success. Start-ups are critical to our economic future, our global reputation and our societal progress and we remain fully committed to fostering an environment where innovation flourishes, and where every entrepreneur has the tools needed to thrive and succeed.”
New five-year strategy
Enterprise Ireland has now launched its new five-year strategy, Delivering for Ireland, Leading Globally, which sets a target of supporting 1,000 new start-ups between 2025 and 2029.
Méabh Conaghan, Enterprise Ireland’s Northern and Western Regional Director, said Start-Up Day 2025 would continue to celebrate the contribution of early-stage businesses.
"A key objective in our new strategy is to Accelerate Sustainable Irish Business so that, in time, exporting Irish companies will become the primary driver of the Irish economy. As part of our plan, Enterprise Ireland is undertaking a dedicated consultation process by engaging with the start-up ecosystem on the supports available for early-stage companies in Ireland.
"This aims to strengthen our pipeline of early-stage companies with the potential to scale internationally, furthering Ireland’s position as a global leader in entrepreneurship and innovation.”
