Significant resources are available to entrepreneurs setting up their own company in Ireland.
Bodies such as the Tyndall Institute, MCCI and CRANN can provide valuable resources and expertise working in partnership with start-ups to help them succeed.
There are also numerous business incubation centres available to aid spin-outs from academia. These are a key seeding ground for start-ups. MIDAS is also promoting the creation of a microelectronics focussed start-up accelerator that will develop expertise in fostering microelectronics start-ups and specialise in responding to challenges unique to the industry.
New application area based initiatives can help bolster new start-ups' chances of getting funding if the start-up is in an area being backed. For example the new SFI backed allocation of €300M in funding in key areas including Big Data, Nanotechnology and Photonics.
There are many examples of Irish indigenous start-ups that have gone on to great success, including significant IPOs, acquisitions and autonomous growth. These range from systems design technology companies founded early in the industry's lifecycle in Ireland such as the S3 Group, to newer systems design technology success stories such as Firecomms and Glonav, Taoglas, Arralis, Chipright, Heyday, CW Applied, IKONSemi, Emdalo, ICERGi, mBryonics, MFG Vision, SensL, Cloudium, AltraTech, Edalics, Ferfics, IC Mask Design, IRCONA and Decawave.
Entrepreneurs have been able to startup in Ireland because of the strong engineering background provided by the third level education sector. Ireland has the highest proportion of science graduates of any other EU member state (Eurostat). Ireland has several Universities, Institutes of Technology and other academic institutes which produce consistent levels of highly educated science and engineering graduates who will seek employment in ICT and related areas. Success has also been aided by the experience gained by many of the industry veterans through working in multinationals based in Ireland.