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Speech by the Taoiseach, Mr. Enda Kenny T.D., at the Opening of Dogpatch Labs Europe Barrow Street Thursday 29 September, 11.00 am

 

Thursday 29th September 2011

Introduction

Ladies and Gentleman,

I am delighted to be here today to open this really impressive facility and to meet such an inspiring group of entrepreneurs.

I would like to welcome Terry, Gus and Dave who have come from the US especially to be with us today.

I would also like to congratulate Noel Ruane on his appointment as Entrepreneur-in-Residence here at Dogpatch Labs Europe.

Congratulations also to the first class of Dogpatch Entrepreneurs on securing places in the Lab.

I know that spaces are highly sought after and some of you have travelled from overseas to avail of the opportunity.

You are very welcome to Ireland.

In addition, I would like to acknowledge the presence of Paul Carty, Chair of the National Pensions Reserve Fund and Frank Ryan, CEO of Enterprise Ireland.

Securing Dogpatch Labs Europe for Dublin is a very welcome development following NPRF's investment in Polaris under Innovation Fund Ireland.

Innovation Fund Ireland

I would like to congratulate the NPRF and Enterprise Ireland on the success of the Fund so far.

I understand there will be further announcements of exciting investments in the near future.

The Fund is a good example of how we can use the resources available to us - through the National Pension Reserve Fund - to stimulate investment in the economy.

This fits with the Government's wider ambitions to maximise the level of investment in the economy through the NewERA initiative.

We want to get maximum impact from the resources available to the Irish State - by focusing on productive investments which will help competitiveness and growth.

I believe that Innovation Fund Ireland may provide a model for similar initiatives and we will be working on these ideas in the coming months.

Ireland's prospects

I believe that the presence of a Dogpatch Lab here in Dublin will further add to our international reputation as a centre for innovation.

Securing the first European Lab for Dublin is a significant vote of confidence in Ireland.
And there are many reasons for confidence right now.

Earlier this week Twitter announced their plans to locate in Ireland.

Only last Monday I visited EA one of the leading international gaming companies. They are locating the Customer Support centre for their new Star Wars games in Galway creating 200 new jobs over and above the 200 jobs already announced.

And you only have to look across the road at the Google building to see yet another jewel in our crown.

Our success in attracting foreign investment has been enduring despite global economic conditions.

Apart from our ICT successes we also have eight of the world's top ten medical technology companies located here.

And this is because of our enduring strengths: above all the quality of our people.

Most of all, people refer to the passion our young people bring to what they do. Its their energy, their ideas, their confidence, which will be the true basis of our recovery.

Economic Recovery

And we are making progress in addressing our well documented economic difficulties.
After three years of contraction our economy has returned to growth and we expect that growth to continue.
We have trebled our investment in research, development and innovation over the past decade.
We also have programmes designed to link enterprise and researchers - in emerging areas such as cloud computing and smart energy grids.
I hope that our business friendly environment will encourage the Dogpatch entrepreneurs here today to stay in Ireland to grow their businesses.
The achievements to date of participants in the existing US Dogpatch Labs are well known.

And I only have to look around this space and feel the atmosphere to understand why Dogpatch has been so successful.

The supports and facilities which are available here are fantastic and I believe Barrow Street is a perfect location for this exciting facility.

Conclusion

This is a time for optimism and confidence in Ireland despite a challenging global environment.

My Government believes that Ireland is a perfect place for entrepreneurs from Ireland and overseas to start-up and grow high-potential companies.

The presence of Dogpatch here in Dublin is an important addition to Ireland's enterprise and innovation environment.

I would like to wish you every success both with the Lab and with all the exciting businesses which will be driven from here over the next few years.

I will be watching your progress with keen interest.

Thank you.

ENDS