Enterprise Ireland, Europe’s leading venture capital organization by deal-count, has made cooperation with Silicon Valley a key to its emergence as a global force in investment and entrepreneurship.
The cooperation has yielded successful commercial deals, partnerships, co-investments, and exits. It has also created an environment in which Irish entrepreneurs make Silicon Valley a hub for starting U.S. businesses.
Ireland has a strong cluster in Fintech and e-commerce: Immedis are now world leaders in the provision of global payroll and mobility solutions to many of the largest and most successful firms in the Bay Area; Transfermate, who are simplifying international B2B payments, Luzern’s e-commerce platform enables leading brands to grow profitably & sustainably online; Taxamo is solving the problem of cross border tax compliance for fast-growing digital product & service providers. All operate successful businesses here in the Bay Area.
Site of the world’s first-ever wireless transmission, it’s not surprising that Ireland has a strong profile in Telcom / IoT / 5G: Taoglas creates next-gen IoT solutions and RF antennae; Sweepr is driving the evolution of customer support through the complexity of connected home environments; Spearline services Cisco, Intel, Google, and Twillo proactively monitoring global toll, toll-free and premium-rate numbers to optimize customer experience and communications.
Ireland’s fabled storytellers have long made the leap to digital and partnerships with Bay Area powerhouses like Industrial Light & Magic (ILM) have accelerated success. Case in point is Dublin-based visual effects house SSVFX, who worked alongside ILM on the de-aging process for Robert De Niro, Al Pacino and Joe Pesci in Oscar-nominated “The Irishman”. While Irish studio Giant Animation is currently in production on the Netflix Original “Mama K’s Team Four” Season 1, which is slated for Worldwide release in 2021. Cartoon Saloon’s 2D animated feature “Wolfwalkers” is scheduled for release later this year on Apple TV+.
Markets have recently acknowledged the value of Irish technology. Earlier this year, Enterprise Ireland-supported Decawave was acquired by Qorvo for a reported $400m for its ultra-wideband wireless technology; Accuris, provider of carrier-grade Wi-Fi Offload and Roaming Inter-Working solutions for data, voice and messaging was acquired by Zephyrtel in late 2019 and Bay Area stalwart, Google acquired Dublin startup, Pointy, in January of this year.
According to Paul Burfield, Senior Vice President, Enterprise Ireland, Ireland’s partnership with Bay Area businesses is the product of a shared determination to innovate and get business done. “Working with Irish companies is easy for Bay Area businesses because we operate at the same speed; we’re similarly versatile and we understand the importance of innovation over commoditization,” Burfield said today. “I’m pleased to see Irish companies excelling here in the Bay Area and I am confident in the mutual success of our enterprises and our ecosystems.”