Sunday August 9, 2020

Dead cert or dead weight? Enterprise Ireland's money

Enterprise Ireland invests hundreds of millions of euro every year in Irish start-ups. But is that money being used effectively? And how many jobs are being created as a result?

Barry J Whyte

Chief Feature Writer

25th August, 2019

Pat Phelan is one of Ireland’s most famous business starters. He founded Cubic Telecom before selling up in 2012. He founded fraud prevention company Trustev, then sold it to TransUnion for $44 million in 2015. And lately he has been working on a chain of beauty clinics called Sisu.

Along the way, he’s had plenty of help from Enterprise Ireland, the state agency responsible for funding and supporting Irish start-ups, which put €472,000 into Cubic and...

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