Ireland’s Mid-East Region Is Growing Agtech-Focused Startups
Ireland
Mid-East Region
MEMBERS:
Meath Enterprise
The current COVID-19 crisis has brought into sharp focus the importance of innovation and sustainable food production. As we recover and begin to tackle climate change, the Mideast has the companies, infrastructure, and brainpower to capitalize on emerging opportunities.
Ecosystem by the Numbers
EARLY-STAGE FUNDING
<$50 m
GLOBAL AVG.
$687 m
ECOSYSTEM VALUE
$224 m
GLOBAL AVG.
$28.6 bn
Agtech & New Food
Ireland’s food industry is projected to be worth $21.6 billion by 2025 and currently represents 12.3%of the country’s total export revenue. The Boyne Valley Food Innovation District (BVFID), centered in the Mid-East Region, acts as a base for some of Ireland’s leading indigenous and high-growth food businesses including Kerry Foods, Dawn Farms, Epicom, and Devenish Nutrition. Devenish is developing its new Global Innovation Centre in the Boyne Valley and has secured $130m in R&D funding. The landmark deal included a pioneering investment of $44m from the European Investment Bank (EIB), the largest ever support for agri-businesses in Ireland by the EIB. The BVFID also facilitates foreign direct investments into the region and helpsindigenous food and smart agri-startups and SMEs to scale globally.
Reasons to Move Your Startup to Mid-East Region
Attractive tax rates
At 12.5%, Ireland’s corporate tax rate is one of the lowest in Europe.
COVID-19 Policy
Ireland has declared a €200m SBCI COVID-19 working capital scheme for eligible businesses suffering liquidity issues. Under this program, the state will provide loans from €25,000 up to €1.5 million with a maximum interest rate of 4%. For loans of up to €500,000 no collateralis required.
Low cost
Cost savings continue with $52,281 as the average salary of a software engineer in Ireland—lower than in its Western Europe counterparts.
R&D tax credits
Research-intensive startups can take advantage of a 25% tax credit for qualifying R&D costs.
Selected Startup Organizations
Startup Genome Members
Arklow Enterprise Centre
Athy Enterprise Centre
Boyne Valley Food Hub
Clane Project Centre
EO Accelerator Ireland
Enterprise Ireland
Industrial Development Authority - IDA
Kells Enterprise & Technology Centre
Kells Tech Hub
Kildare Chamber of Commerce
Kildare County Council
Kildare Local Enterprise Office
Kildare-Wicklow Education & Training Board
Louth-Meath Education & Training Board
Maynooth University
Maynooth Works
Meath County Chamber
Meath County Council
Meath Enterprise Centre
Meath Local Enterprise Office
Media Ireland
Mid-East Action Plan for Jobs Committee
Mid-East Regional Skills Forum
PFS Accelerator
Wicklow Chamber of Commerce
Wicklow County Council
Wicklow Enterprise Centre
Wicklow Local Enterprise Office
News from the Ecosystem
Michael Brougham
Regional Director for the Mideast and the Midlands region of Ireland
Would you like to be an ambassador in Mid-East Region?
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