Taoiseach, Brian Cowan, has been selling the advantages of investing money in Ireland in New York this week, at the same time as the Euro surged to a value of more than $1.29.
The Irish premier addressed the New York Stock Exchange, to highlight the nation's focus on innovation and enterprise as a means of rescuing its own beleaguered economy.
During the breakfast meeting of more than two dozen influential leading members of the city's financial community, he pointed to Ireland's GDP – which is growing by 2.7 per cent – and the new €500 million innovation fund as markers of the country's world-class calibre.
Addressing journalists after the meeting, from a balcony over-looking the exchange trading floor, he said, "It’s about Ireland setting itself up as a place where business can be done, where start-ups can take place, where we can develop technology, life sciences and other areas, ensure that there is the sort of risk capital to help those companies scale up."
The National Pension Reserve Fund (NPRF) and Enterprise Ireland will provide €250 million over the next five years to lure venture capital to Ireland. The pot will the be match-funded by venture capitalists themselves.
Referring to the recent 4.5 per cent growth in the export market, Mr Cowan said, "Export-led growth is the way we can create wealth and increase standards of living at home and provide job opportunities. We have a well-educated work force. We are small. We are flexible. We are adaptable."
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