A jump in funding to early stage companies helped grow the overall amount of venture capita by 9pc in the first three months of the year. The figures, compiled by the Irish Venture Capital Association in association with William Fry, show that tech and biotech funding here rose to €249.4m in the first quarter, up from €228.9m during the same period last year. “Funding appears to have shaken off any restrictions caused by Covid-19,” said Gillian Buckley, chairperson of Irish Venture Capital Association. The surge in financing to startups and small tech firms will come as a relief to policy makers who had seen a consistent away from early stage funding in favour of larger, more established tech companies. “Government support for start-ups and early stage companies through Enterprise Ireland and the Ireland Strategic Investment Fund is beginning to show a real impact,” said Sarah-Jane Larkin, director general of the IVCA.

Source: Irish Independent May 09, 2021 13:07 UTC