Global trade educator ITI targets €1m funding

The International Trade Institute (ITI), a Meath-based education and training business, aims to raise €1 million in its next funding round.

ITI provides training on international trade. The business is based in Lobinstown, Co Meath. It was founded by Michael Boyd, Brendan McAuley and Fiona Luciani, in 2021. It has seven full-time staff and 40 educators working on a contract basis. To date, it has raised €747,000.

“Trading between countries and between entities is getting increasingly difficult. We teach and educate those that make international trade happen,” Luciani told the Business Post.

“That involves teaching government agencies and ministries along with private traders. Our network started off in Ireland where we help companies get products off the island and into different trading blocs around the world.”

The three co-founders developed the idea for ITI through their prior experience working as consultants.

“We had been working for many years as consultants and educators. We noticed there was a lack of skills and understanding. There’s a lack of internationally recognised trade training, particularly in the English-speaking world,” McAuley said.

“At the same time, the international trade climate has become more complicated. Businesses and their staff need more tools. We decided to fill that gap and set the standard in international trade.”

The business focuses on improving skills around trade policy, market selection and trade compliance. ITI has partnered with Glasgow Caledonian University to provide accredited courses to its customers, which include AstraZeneca, Deloitte and Kerry Group.

“We now have three comprehensive programmes up and running along with bite-sized webinars and master classes provided live online,” Luciani said.

“In April we launched a self-paced version of our courses for users and we have seen a lot of repeat business from our customers. That provides us validation from the market, it shows that we are providing something that the market wants.”

The educators include the company chairman, Bill Emmott, who is a former editor of the Economist.

“He’s a long-time friend and has been a great supporter for us. We’re proud to have him supporting us, not just with large businesses but also in our work with small companies and governments,” McAuley said.

Enterprise Ireland has supported the business with its international expansion. McAuley credited the agency with providing key advice from the early days of the business.

“They have been supporting us from early on with feasibility studies and helping us to identify the market. Their investment also helped us get going, as well as providing security and encouragement to other investors. They continue to provide us with strategic and fundraising advice,” he said.

Luciani said the business aims to increase its presence in the US over the next 12 months.

“Our biggest goal for this year was developing the self-paced option of our programmes. That has helped us reach more professionals outside of our time zone,” she said.

“We want to be the recognised go-to supplier for education in this space for all businesses.”

This Making it Work article is produced in partnership with Enterprise Ireland