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Over $10 million AUD (€6.2 million) in new contracts for Irish companies including Solgari, Kingspan, GM Steel and Combilift have been announced today in Sydney during Enterprise Ireland’s Trade Mission to Australia and Singapore, which is being led by Minister for Business, Enterprise and Innovation Heather Humphreys, T.D.
Five Enterprise Ireland backed companies Fineos, Alpha Wireless, Glofox Gym and Fitness Studio Management Software, Mainstream Renewable Power and Linesight also today announced new office openings in Australia.
Enterprise Ireland also announced the opening of a new office in Melbourne, it’s second office in Australia to further increase exports to Australia and to support clients to expand in Australia and the wider Asia Pac region. Enterprise Ireland client export to Australia reached €253 million in 2018, an increase of 43% over the past three years.
Accompanying 71 Irish companies from the fintech, medtech, high-tech construction, agritech, emerging technologies and ICT sectors, Minister Humphreys announced the deals and the opening of a new Enterprise Ireland office in Melbourne.
“Australia is a mature and highly developed economy that offers significant opportunity for Irish exporters. Despite the long distance to market, Australia’s open economy, significant infrastructure expenditure and strategic location at the doorstep of Asia has led many Irish companies to enter and perform strongly in the market. The size and scope of this trade mission demonstrates that now more than ever the importance of this market,” explained Minister Humphreys.
“320 Irish companies are now exporting to Australia and these companies employ over 25,000 people in Ireland. Our ambition is to grow client exports to €360 million by 2020. I am delighted to lead this Trade and Investment Mission to Australia and engage in an extensive programme of activity which focuses on supporting Irish companies to expand exports into this significant region. My aim over the coming days is to build awareness and promote the Irish advantage of the participating companies through their innovation and capability in key sectors. I look forward to engaging with key decision makers at the highest levels in Government and Industry to promote Ireland as a source of world-class products and services,” she added.
Key deals announced today include:
New Office Openings
Fineos Corporation, a global provider of customer centric core insurance software, who employ 130 people across Australia and New Zealand and who service BT Financial, AMP, Commonwealth Bank and Westpac.
Alpha Wireless announce the opening of a new research and development office in Sydney to support the company’s expansion in Asia Pacific.
Glofox Gym and Fitness Studio Management Software announce the opening of a new office in Sydney.
Mainstream Renewable Power announce the establishment of an office in Melbourne to focus on renewable projects in Victoria and across Australia.
Linesight who provides professional services and strategic support to the global construction industry, open a new office in Sydney.
Kevin Sherry, Executive Director, Global Business Development, Enterprise Ireland said: “Expanding the Irish export footprint in markets beyond the UK is a key priority for Enterprise Ireland and we are working closely with Irish industry to pursue realisable opportunities to support greater market diversification throughout the Asia Pacific region.
“Since 2018, Enterprise Ireland has strengthened our resources in key sectors such as Digital Technologies, Financial Services, Education, Agritech, Healthcare, Construction and Food FDI across the Asia Pacific region and will add additional resources by end of 2019 including new offices in Melbourne and Vietnam as well as pathfinders in New Zealand and Shenzhen to support that continued growth,” he continued.
Enterprise Ireland also today announced that the Agency in Australia has partnered with Asia’s largest fintech innovation hub Stone & Chalk, as a landing pad in both Sydney and Melbourne for Irish fintech companies seeking to enter Australian and Asia Pacific markets. Australia is the third largest market globally for Irish fintech exports after the UK and US, with many Irish fintech tech companies gaining success in this market, including; Taxback, Currency Fair, Fexco, Daon, Fineos, Fenergo, Kyckr, Brightflag, and Priviti.
Stone & Chalk was chosen for its market-leading record of generating commercial outcomes between ventures and corporates, and its exceptional network of start-ups, scaleups, mentors, investors, and corporate partners.
CEO of Stone & Chalk, Alex Scandurra said “It takes a metaphorical village to raise a fintech, and this type of highly connected and high-quality village is what we offer here at Stone & Chalk. We don't sell space, we enable success. The partnership with Enterprise Ireland will create a highly valuable bridge between Ireland and Australia. As Stone & Chalk residents, Irish ventures will join our unique marketplace that includes 27 Australian and international corporate partners, and over 650 entrepreneurs working in over 100 start-ups and scaleups. They will gain access to our corporate and government partners, and our mentor and investor communities, who have helped our start-ups and scaleups secure over $320 million to date.
David Eccles, Enterprise Ireland Manager for Australia and New Zealand, said: “Partnering with Stone & Chalk is a great example of how we embed ourselves with leading innovators to support the future of fintech locally and globally. We’ve seen first-hand how Stone & Chalk champions and accelerates the growth of each and every business through the experience of our own clients already based at Stone & Chalk, such as Priviti. We are delighted to formalise our partnership and look forward to supporting many more fintech companies together.”
ENDS
For further information:
Marika MacCarvill, International PR, Enterprise Ireland 086-171 2568