InBUSINESS Q3 2015 by Ashville Media Group

NOLAN ON HAVING TO HUSTLE MENTORS SERIES RAY

InBUSINESS CONNECTING IRISH BUSINESS

Q3 2015

DRAWN BY

FUNDING THE FIXER

SUCCESS

Sugru’s

ILLUSTRATOR PAUL YOUNG ON BREAKING INTO HOLLYWOOD

JANE NÍ DHULCHAOINTIGH on her crowdfunding success

MAXIMISING

The New

MEDTECH A LOOK AT ONE OF

IRELAND’S FLOURISHING INDUSTRIES

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JO-ANN FEELY on the future of work 05/10/2015 10:50

Dublin Airport Travel Services

Dublin Airport offers all passengers unlimited free Wifi

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05/10/2015 14:59

Editor: Joseph O’Connor Managing Editor: Mary Connaughton Editorial Assistant: Emma Kerins (Chambers Ireland) Commercial Editor: Conor Forrest Art Director: Alan McArthur Editorial Contributors: Conor Forrest Valerie Jordan Olive Keogh Rachel Murray Jane Quinn Front Cover Photography: Conor McCabe Production Manager: Mary Connaughton Production Executive: Nicole Ennis Sales Director: Paul Clemenson Special Innovation Reports: Shane Kelly Managing Director: Gerry Tynan

Published by: Ashville Media Group, Old Stone Building, Blackhall Green, Dublin 7 Tel: +353 1 432 2200 Email: info@ashville.com Web: www.ashville.com On behalf of: Chambers Ireland, 3rd Floor, Newmount House, 22 - 24 Lower Mount Street, Dublin 2 Tel: +353 1 400 4300 Email: info@chambers.ie Web: www.chambers.ie All articles © Ashville Media Group 2015. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means without written permission from the publisher. Opinion and comments expressed herein are not necessarily those of Ashville Media or Chambers Ireland. ISSN 20093934

Entrepreneur Illustrator Paul Young on breaking into Hollywood and landing his dream job as a newspaper cartoonist

Maximising Medtech

A look at the medical technology sector, one of the country’s most promising industries Words: Valerie Jordan

Words: Joseph O’Connor

MENTORS

Hustle First,

DISRUPT LATER

Words: Conor Forrest

Funding The Fixer

Sugru’s Jane Ní Dhulchaointigh on how new capital will help bring her mouldable glue to the masses Words: Joseph O’Connor

The New Work Order

Jo-Ann Feely of Alexander Mann Solutions considers what the future of work will look like

Masters of Mischief

Love them or loathe them, bookmakers Paddy Power know how to produce a successful PR campaign

COVER STORY:

Having built some of the most profitable web companies from these shores, Ray Nolan knows a thing or two about doing business. JOSEPH O’CONNOR met with the self-assured, laid-back techie who has his sights set on disrupting another industry.

ay Nolan certainly shoots from the hip. And why wouldn’t he? As one of Ireland’s most successful tech entrepreneurs, he doesn’t have much need to pander to Government or to toe a company line. What you get as a result of meeting with the Malahide man is a frank discussion – filled with expletives – on his successful and not so successful ventures, the start-up landscape here and the overuse of ‘entrepreneur’. Nolan is best known for making his fortunes from the sale of hostelworld.com, a site that revolutionised online travel through its simple business model. Back in 2009 he sold its parent company Web Reservations International (WRI) to private equity firm Hellman Friedman for around a200 million. But Nolan had already made his mark five years earlier, when he sold one of his first ventures, Coretime, to computing giant Sage. There’s been a lot in between for the now 49-year old. He chairs a number of internet companies, including healthcare search engine WhatClinic.com. He served as a non-executive chairman at leading flight search engine Skyscanner for three years. He was one of the first investors in Mark Little’s Storyful which was acquired by News Corp in 2013 for a18m. He’s a director for both Smartbin, a provider of management software to the waste collection industry, and Ding, ex-Esat boss Mark Roden’s mobile transfer company. 38

A rugby fanatic himself, Nolan developed the Ultimate Rugby app with former Ireland international Brian O’Driscoll, which came about through a partnership formed back in 2003 when Nolan won the EY Emerging Entrepreneur of the Year Award. Then there’s worky. com, which was supposed to be a “LinkedIn for ordinary people”, but which failed to ever get off the ground. Nolan says the tech was awesome but the idea wasn’t. The site itself is still up and running, Nolan describing it as “a personal challenge to leave it up there.” Now Nolan is back with a brand new venture called XSellco, which he hopes will disrupt the online trading market. It’s been a couple of years and tweaks in the making. He and a team of developers specialising in web development, ERP, CRM, retail and distribution have been building the software platform to change how merchants sell online. XSellco went live in late 2013 and Nolan has already made clear his ambitions for the venture by acquiring competing company ReplyManager earlier this year, a Florida-based firm three times the size of his Dublin-headquartered business. The service is about what Nolan calls “alignment” and taking the pains out of supporting transactions, while enabling merchants to earn bigger margins when selling their wares on platforms like Etsy, Bigcommerce, eBay and Amazon. According to Nolan, feedback so far has been positive and he reads me a customer comment sent earlier that day via messaging app Slack: “This kind of message InBUSINESS | Q3 2015

MENTORS:

RayNolan

The self-assured, laid-back techie on the need to hustle Words: Joseph O’Connor

InBUSINESS | Q3 2015

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TRAVEL IN STYLE. TRAVEL IN SPACE.

The new ŠKODA Superb. From €289 per month including three years servicing. Imagine a car that blurs the line between beauty and functionality. Where style and spaciousness are in perfect harmony. Where there’s room for everything, except compromise. We imagined such a car and we call it the new ŠKODA Superb. Longer, wider, taller, lighter and packed with the latest technologies, the new Superb represents 120 years of forward thinking. Available from €26,795, the Superb is one of the most eagerly awaited cars of 2015. Call into your local ŠKODA dealer and see the all-new Superb for yourself. skoda.ie

Clever inside The most popular Superb model, the Ambition, is available with a host of standard features such as: Bi-Xenon Headlights with LED day time lights

Smartphone compatible with latest Infotainment Systems

Largest interior in its class

Terms and conditions apply. RRP prices displayed exclude dealer delivery and related fees. Typical Finance Example: Superb OTRP €27,395. Deposit / Part Exchange €8,390.95. 36 monthly payments of €289 (Including service plan of €13.99 per month). Optional Final Payment €10,718. Total cost of credit €1,764.31. Total hire purchase price €29,159.31. Minimum deposit is 10%. Subject to lending criteria. This offer is made under a hire purchase agreement. ŠKODA Finance is a trading style of Volkswagen Bank GmbH Branch Ireland, authorised by the Federal Financial Supervisory Authority in Germany and regulated by the Central Bank of Ireland for conduct of business rules. Images used for illustrative purposes only. Every effort is made to ensure accuracy however errors may occur and speciﬁcations may change without prior notice.

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11/09/2015 14:37 10:54 05/10/2015

RAY NOLAN ON MENTORS SERIES HAVING TO HUSTLE

InBUSINESS InB CONNECTING IRISH BUSINESS

Q3 2015

DRAWN BY

FUNDING THESugru’s FIXER

SUCCESS

ILLUSTRATOR PAUL YOUNG ON BREAKING INTO HOLLYWOOD

JANE NÍ DHULCHAOINTIGH on her crowdfunding success

MAXIMISING

MEDTECH

A LOOK AT ONE OF IRELAND’S FLOURISHING INDUSTRIES

The New 9 772009 393018

TALENT EXPERT

a2.70

JO-ANN FEELY on the future of work

Go to chambers.ie for the online edition

[LIFESTYLE] 130

MOTORING:

New offerings from Mercedes-Benz and Audi 134

INNOVATION:

Gadgets to perk you up at the ofﬁce 136

TRAVEL:

Jane Quinn uncovers the real Madrid 139

BOOKS:

Insights from Google and some of the world’s best business brains 140

FASHION:

Three looks with three very different purposes

Snapchat

Michael Carey, Managing Director, East Coast Bakehouse

SME Feature

We paid a visit to Roe River Books in Dundalk, the indie bookstore writing its next chapter

136

Hack to the Future

A look at what the high-energy collaborative events called hackathons are all about Words: Conor Forrest

Book Extract

An extract from Matt Cooper’s new book The Maximalist: The Rise and Fall of Tony O’Reilly

142

The Last Word

134

130

Java Republic MD Grace O’Shaughnessy on coffee, fair trade and the rise of café culture Words: Valerie Jordan

[REGULARS]

10 Movers & Shakers 13 Opportunity Ireland 14 Start-Up Central

Words: Joseph O’Connor

Our Local Government InBUSINESS 10 MEATH Supplement continues to look at the 13 important role played by local authorities in Irish enterprise Page

Page

144 The IB Index

Page

LEINSTER • MUNSTER • CONNAUGHT •

A warm welcome for Wexford jobs, plans for the capital’s tallest commercial office building and Trim wins gold in floral competition.

Waterford awards open for business, Tipp merger yields €3m in savings and Ennis on track for new walking and cycling routes.

Plans for Galway to become major startup hub, a new IDA building for Castlebar and preparations underway for MeetWest.

Page

ULSTER

Cavan’s Rising Centenary programme unveiled, US Congressman celebrates Donegal links and Monaghan to promote its festivals in the UK.

In Association with

CMYK: 83 / 0 / 8 / 0

CMYK: CMYK: 49 / 0 / 100 / 0 0 / 0 / 0 / 100

HEX: 40B3DF

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RGB: 168/203/23

RGB: 31/30/33

RGB: 64/179/223 Font:

• Din Medium • Din Regular

MAKING IT IN We look at why SMEs and multinationals are identifying Co Meath as an excellent place to do business

FOCUS ON LOCAL ECONOMIC DEVELOPMENT Why jobs and economic growth must continue in every region to ensure it is not a two-tier recovery

Page 8

47 Chambers Catch Up

Support to Scale

The IDA’s Barry O’Dowd on bringing a new generation of early stage fast-growth companies to Ireland

5 Business News

FOREIGN DIRECT INVESTMENT:

PUTTING CORK ON THE MAP Cork city centre was showcased as a location for global investment at a recent FDI forum in London

In Association with

InBUSINESS | Q3 2015

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Making Investing Easy

3 3 3 4 3 4

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Equities Equities Equities investment funds Warning: The value of your investment may go down as well as up. Warning: These funds may be affected by changes in currency exchange rates. Warning: If you invest in these funds you may lose some or all of the money that you invest. Investing in iFunds involves taking out a life assurance or pension policy with New Ireland Assurance. Terms and conditions apply. New Ireland Assurance Company plc is regulated by the Central Bank of Ireland. A member of Bank of Ireland Group.

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05/10/2015 14:39

BUSINESS NEWS

WEB SUMMIT MOVING TO LISBON

he Web Summit is to quit Dublin and relocate to Lisbon in 2016. The news comes as a major blow to the Government, who have used the event in recent years as a reference point for foreign tech firms seeking to establish a European base here. According to Dublin Chamber CEO Gina Quin: “The decision should serve as a wake-up call to the Government about the importance of increasing investment in infrastructure. It’s also a reminder of how Dublin is competing with other international cities for business.”

TRADING

PLACES

XIM Summit, Ireland’s export-import conference, has been officially launched at Dublin Port. The conference will see leading export and import professionals share knowledge and expertise with attendees. The event, which will also feature an expo, meet the buyer sessions and dedicated workshops, takes place on November 18th at Croke Park Conference Centre. EXIM is sponsored by FedEx Express and supported by ConnectIreland, InterTrade Ireland, Chambers Ireland, the Export Co-opp and eBSI Export Academy.

InBUSINESS | Q3 2015

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Thomas Smith, CEO, eBSI Export Academy; Joanna Murphy, CEO, ConnectIreland; Thomas Hunter McGowan, CEO, Intertrade Ireland; Elaine Carroll and Kapil Khanna, EXIM Summit; Ian Talbot, CEO, Chambers Ireland and Tony McGuinness, FedEx Express Europe

05/10/2015 11:24

BUSINESS NEWS

CATHEDRAL GOES

HIGH TECH Visitors to Saint Patrick’s Cathedral in Dublin 8 will now be able to get a high tech insight into the building, past and present, with the launch of the new Discovery Space. Highlights of the new area, which is housed in the south transept of the historic building, include a large touch screen table featuring interactive content on the building’s history and a large jigsaw of one of the windows of the cathedral. The Discovery Space is phase two of the a250,000 works to the building. Fáilte Ireland provided 65 per cent of the funding for the works, with Saint Patrick’s Cathedral making up the balance.

PICTURE

THIS

Six new brewing vessels arriving into Dún Laoghaire harbour on September 7th, destined for the brewery at St. James’s Gate. The 4.24 khL vessels each have space to store 750,000 pints of beer. They will provide Diageo with extra fermentation and maturation capacity.

TECH SECTOR ATTRACTING

MOST INBOUND TALENT Visitors check out St Patrick’s Cathedral’s new Discovery Space

COVER STORY P20 “SO MANY OF THE TRADITIONAL INDUSTRIES REALLY NEED TO CHANGE THEIR ATTITUDE AND THEIR OUTLOOK AROUND HOW THE WORKPLACE OF THE FUTURE IS GOING TO BE.”

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Jo-Ann Feely, Global Client Partner, Alexander Mann Solutions

ew research from LinkedIn shows that Ireland is a net beneficiary from international professional talent migration with 20 per cent more professionals coming to Ireland than leaving the country in the second quarter of 2015. According to the world’s largest professional network, the software industry was the most popular sector for professionals moving to Ireland, reflecting the country’s popularity as a major destination both for continental European start-ups looking to expand and for US technology firms looking to set up a European operation.

SECTORS THAT ATTRACTED THE MOST PROFESSIONALS:

• TECHNOLOGY (SOFTWARE) • PROFESSIONAL SERVICES • TECHNOLOGY (HARDWARE) • HEALTHCARE & PHARMACEUTICAL • RETAIL & CONSUMER PRODUCTS

THE BIGGEST NET CONTRIBUTORS OF PROFESSIONALS:

ITALY

16% LATIN AMERICA

14% FRANCE

13% ASIA

8% EASTERN EUROPE/ BALKANS

8% InBUSINESS | Q3 2015

05/10/2015 11:24

BUSINESS NEWS

PENNEYS

BY NUMBERS

292 stores

operates in

European markets

Business

BITES

employs over

62,000 people

operates from 11 million square feet of selling space across

Primark store, Boston

countries

PRIMARK LANDS STATESIDE Budget fashion chain Primark has opened its Boston flagship store, the brand’s first location in the US, following a ribbon-cutting celebration led by Boston’s Mayor Martin J Walsh. A Primark spokesman said the company chose Boston because of its high concentration of students and its roots as a centre for Irish immigration. Primark plans to eventually open two more stores in the Boston area, as well as five others in the northeast. Founded in Dublin as Penneys in 1969, the retailer has expanded rapidly since first venturing away from home with the opening of a shop in Madrid in 2006. Headquartered in Dublin, the retailer has annual sales in excess of £4 billion. Its products are sold in Ireland through the Penneys chain.

PUTTING IRELAND ON THE MAP

The Google Trekker

InBUSINESS | Q3 2015

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áilte Ireland will be borrowing the Google Trekker over the coming months to capture many of Ireland’s remotest tourism beauty spots which haven’t yet been captured by Google Street View. The Google Trekker is being accessed through Google’s Trekker Loan Programme and can be used to capture street view imagery in remote places where the car can’t go.

EIRCOM BECOMES EIR

eircom has officially unveiled a new name for the group in a rebranding exercise that will cost a16m. The telecom company says the change of name to eir will mark the largest rebranding exercise in 20 years in Ireland. We’ll be reporting on the story in our Q4 issue.

ACCOUNTANCY FIRM MERGER APPROVED

The proposed merger between Grant Thornton and RSM Farrell Grant Sparks has been approved by the Competition and Consumer Protection Commission. The move will consolidate the combined entity’s position as number five in the Irish accountancy market.

CYBERSECURITY FIRM ANNOUNCES BURSARY FOR CIT

eSentire Inc., a leader in managed cybersecurity services, is celebrating the opening of its new European-based headquarters in Cork by announcing the first bursary for the Department of Computing at the Cork Institute of Technology (CIT).

AER LINGUS DELISTS FROM STOCK EXCHANGES

Aer Lingus shares have been delisted from the Irish and London stock exchanges almost nine years to the day since the airline’s flotation. The airline was floated to much fanfare by the then Fianna Fáil government in 2006 at a2.20 a share.

05/10/2015 11:24

BUSINESS NEWS

THE BURNING QUESTION

Who is the person you most admire in business and why?

NEW JOBS IN THE BAG

JO-ANN FEELY Global Client Partner, Alexander Mann Solutions Karen Blackett, CEO of MediaCom. Karen is the first businesswoman to top the Black Power List and has launched an apprenticeship scheme at MediaCom for disadvantaged young people who want to get into the media industry, taking on 10 to 15 people each year.

Still from the Brown Bag produced short film Anya

BARRY O’DOWD Senior Vice President of Emerging Business, IDA Martin Naughton who has been at the helm of the Glen Dimplex group as it has become a global leader in the heating market, employing 8,500 people and generating revenues of a1.5 billion. He has built deep relationships for Ireland with Notre Dame University and was behind bringing American football to Ireland.

GRACE O’SHAUGHNESSY Managing Director, Java Republic One person that comes to mind is Mary Robinson. I have followed her journey ever since her presidency. She holds herself with such confidence and knowledge in the areas in which she works. She has spoken out for those who have no voice and stood out from the crowd in what was a pretty maledominated world.

RAY NOLAN Entrepreneur There are lots but to name one would make them feel too special! But we’ve always played above our station in terms of our ability. We’ve always been and will continue to be great businesspeople.

005 InBusiness Q3 2015_News.indd 8

ublin-based animation studio Brown Bag Films has announced that it will add 50 new members to its team after being acquired by the Canadian animation company 9 Story Media. The Doc McStuffins creators made the decision to come together with the Canadian company to “grow and develop” its output as well as adding 50 new members to the team, according to a press statement. The Irish computer animation company, which has been based in Dublin since 1994, will still be led by the original creators Cathal Gaffney and Darragh O’Connell.

For more on Irish animation turn to our entrepreneur section on page 16

BREWING INDUSTRY

ON THE RISE

IRISH BEER INDUSTRY: THE STATS Supports over

4,000

agricultural jobs

The Irish Brewers Association (IBA), the representative voice for the brewing industry in Ireland, has released its annual market report, which shows that direct employment in the beer industry is up 8 per cent, due to new product development and the ongoing investment by the sector in Ireland. While production of beer in Ireland for export fell slightly between 2013 and 2014, the beer industry remains something of a success story, with Ireland producing over 700 million litres of beer in 2014. The craft beer sector continues to grow, now accounting for an estimated 1.2 per cent of the market.

Employment up

since 2013

Output of microbreweries up

63%

since 2011

43%

of beer is produced for export

InBUSINESS | Q3 2015

05/10/2015 11:24

THE DIFFERENCE IS IN THE DETAIL Professionals and business people expect the highest standards. With AIB Private Banking you are assured of an enhanced banking service that saves you time and effort. Our signature new banking experience provides you with the relationship-based service that you appreciate. We understand the value of great advice. Our financial planning service gives you access to expert, impartial guidance to help you make informed financial choices to secure your future. Itâ&#x20AC;&#x2122;s details like these that make us different. If you would like to find out more about AIB Private Banking, contact Patrick Farrell, Head of AIB Private Banking, directly on: (01) 641 7634 or email patrick.a.farrell@aib.ie Typically our clients have an annual salary or income which exceeds â&#x201A;Ź250,000.

Allied Irish Banks, p.l.c. is regulated by the Central Bank of Ireland.

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MOVERS & SHAKERS

MOVERS SHAKERS CIARÁN COYLE

OLIVER LOOMES

AISLINN O’BUACHALLA

JOHN STOBIE

NEW TITLE: Chief Administrative Officer EMPLOYER: Ulster Bank PREVIOUS ROLE: Head of Ulster Bank Change

NEW TITLE: Country Director EMPLOYER: Diageo Ireland PREVIOUS ROLE: Guinness Global Brand Director, Diageo

NEW TITLE: Head of Residential Recoveries EMPLOYER: Savills PREVIOUS ROLE: Head of Residential, JLL

NEW TITLE: Director of Sales EMPLOYER: Clanwilliam Group PREVIOUS ROLE: Channel Sales Director, Dell Ireland

Ulster Bank has announced the appointment of Ciarán Coyle to the role of Chief Administrative Officer where he will join the bank’s executive committee. Upon joining Ulster Bank, Coyle worked in the retail division before moving to the services division where he held a number of senior leadership roles including Head of Ulster Bank Change.

Diageo Ireland has announced that Oliver Loomes has been appointed to the role of Country Director. Loomes is one of Ireland’s foremost beer marketeers and, as Country Director, will head up Diageo’s commercial and sales operations on the island of Ireland.

Savills has appointed Aislinn O’Buachalla as their Head of Residential Recoveries. O’Buachalla began her career in property 17 years ago after completing the Auctioneering, Valuations & Estate Agency course at Bolton Street DIT. She initially worked with Sherry FitzGerald and later with Lisney as a senior residential estate agent.

Healthcare, technology and services company Clanwilliam Group has announced the appointment of John Stobie as Director of Sales. Stobie, who was previously Channel Sales Director at Dell Ireland, will bring over two decades of enterprise and channel sales experience to the role at Clanwilliam Group.

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InBUSINESS | Q3 2015

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MOVERS & SHAKERS

NEW APPOINTMENTS IN THE BUSINESS COMMUNITY NATIONWIDE

PATRICIA DEANE

BRIAN CAULFIELD

IDA LUKA-LOGNONÉ

HELEN DUFFY

NEW TITLE: Senior Technical Recruitment Consultant EMPLOYER: Matrix Recruitment Group PREVIOUS ROLE: Recruitment Administrator

NEW TITLE: Chairman EMPLOYER: IVCA CURRENT ROLE: Partner, Draper Esprit

NEW TITLE: CEO EMPLOYER: Allianz Worldwide Care PREVIOUS ROLE: CEO EMEA, Allianz Global Assistance

NEW TITLE: Technical Director EMPLOYER: MLM Ireland PREVIOUS ROLE: Senior Associate, JNP Architects

Patricia Deane has been appointed as Senior Technical Recruitment Consultant in Matrix Recruitment Group’s Carlow office. As part of her appointment, Deane will play a pivotal role in leading the south east technical team in recruitment and business development activities.

Brian Caulfield, partner in Draper Esprit, has been elected chairman of the Irish Venture Capital Association (IVCA). A serial entrepreneur who turned to venture capital, Caulfield previously founded software companies Exceptis Technologies, which was acquired by Trintech Group, and Similarity Systems that was acquired by Informatica.

Allianz Worldwide Care has announced that Ida LukaLognoné, Executive Committee member of Allianz Worldwide Partners, has succeeded Ron Buchan as CEO of Allianz Worldwide Care. The international private medical and life insurer employs over 800 staff at Park West in Dublin. Luka-Lognoné brings with her a wealth of experience in the insurance industry.

Helen Duffy has been appointed as Technical Director of MLM Ireland, a multi-disciplinary engineering and environmental consultancy. In her new role, Duffy will have responsibility for leading the management function and delivering on the strategic objectives of the business in Ireland.

Call Visit Email Follow

InBUSINESS | Q3 2015

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(01) 432 2200 www.ashville.com info@ashville.com @Ashvilleteam

05/10/2015 11:29

Chambers_IDA.indd 1

05/10/2015 14:41

JOB CREATION COMPANY: Supervalu COMPANY: 6D Global Technologies SECTOR: Technology LOCATION: Dublin

SECTOR: Retail

LOCATION: Kildare

ANNOUNCEMENT: SuperValu, the Irish grocery retailer, announced that 70 new jobs have been created at its new Newbridge store which opened in September. The new 13,000 sq ft store represents an investment of 2.2m.

COMPANY: SAS SECTOR: Technology LOCATION: Dublin ANNOUNCEMENT: Global business analytics company SAS is to create 150 jobs in Ireland over the next three years. The business is to open a new sales and customer contact centre in Dublin, with an investment of 40m.

ANNOUNCEMENT: Digital business company 6D Global Technologies is to open an office in Ireland, creating 60 jobs over three years. The Nasdaqlisted firm is targeting the European market for expansion.

Opportunity IRELAND InBUSINESS highlights some of the companies that are expanding operations and generating new employment opportunities around the country.

COMPANY: Nexvet Biopharma SECTOR: Biopharma LOCATION: Offaly ANNOUNCEMENT: Nexvet Biopharma, a veterinary biologics developer, has secured a dedicated biologics manufacturing facility in Tullamore which will lead to the creation of up to 30 new roles over the next year.

IMPACT OF FDI InBUSINESS | Q3 2015

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COMPANY: Realex SECTOR: Technology LOCATION: Dublin

COMPANY: UTRC

SECTOR: R&D

LOCATION: Cork

ANNOUNCEMENT: United Technologies Research Centre (UTRC) is expanding its Cork facility, setting up an additional aerospace research hub and hiring 25 people. The Irish facility was established back in 2010.

The IDA has reported an “excellent flow of projects” in the first half of 2015: 110 investments, up from 100 last year, with the potential to create 9,000 jobs. Employment in IDA client companies now stands at 174,488 people, the highest level in the agency’s history. The impact IDA clients have on the economy is as follows:

ANNOUNCEMENT: Irish-founded online payments firm Realex, which was acquired by the US firm Global Payments for 115m in March, is to create 50 new jobs in Dublin, including roles in sales, marketing and IT.

• 124.5bn exports • Growing supply base - 13.9bn of purchases from Irish suppliers • 1.4bn R&D spend • 8.5bn payroll • 2.8bn of corporation tax Taken from IDA Ireland’s Q3 2015 Update. For more on the types of companies the IDA is attracting to Ireland go to page 66.

05/10/2015 11:31

START-UPS

START-UP CENTRAL NEWS, VIEWS AND PROFILES ON THE LATEST START-UPS IN IRELAND

HOW IT ALL STARTED

NIALL DENNEHY

Co-Founder, imprez How did you fund your business initially? Initially the business was entirely selffunded by myself and my business partner Joseph Thompson. As we scaled the business we took on funding from a private investor, and recently we released some equity in the business via crowdfunding. What’s the best advice you were given? A mentor told me that “the best time to start something was yesterday, the second best time is today”.

45%

NEW BUSINESS APP FOR START-UPS

Figures taken from the Irish Venture Capital Association’s latest VenturePulse report

Journal Media, the company behind digital news publisher thejournal.ie, is planning a new business app that will have a focus on SMEs and start-ups. According to The Irish Times, the company has a “shortlist of two” names for the venture, which will launch either in the fourth quarter of 2015 or the first quarter of next year.

The growth in venture capitalist funding for tech start-ups compared to the same period last year.

What was the most important lesson you learned starting out? Don’t try to do everything yourself. You could spend weeks trying to become average at something that a freelancer could do excellently in an hour. With the internet it’s become exceptionally easy to outsource almost any task at a very affordable cost. Your biggest make or break moment? Securing the deal to become the ‘official presentation supplier’ to a large multinational. This enterprise relied heavily on professional presentations to win bids. Initially we designed a large percentage of their presentations but more recently we have been tasked with training their staff so that they can design the presentations themselves. Would you change anything in hindsight? I would have started the business ten years earlier so that I could have taken more risks. Back then I didn’t have a family and young children to think of! Company: Imprez Location:

The Digital Hub

Staff:

Website:

www.imprez.ie

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Minister Alex White with Paul Holden (left), Chairman and Gerry Macken, CEO, The Digital Hub Development Agency

GRAINSTORE OPENS AT DIGITAL HUB The Grainstore, a Victorian building renovated into contemporary office space for growing technology companies in Dublin 8, has been officially opened by Minister for Communications, Energy and Natural Resources Alex White. The building’s seven newly refurbished offices are part of the Digital Hub, Ireland’s largest enterprise cluster for technology, digital media and internet companies. The four-storey, 10,650-square foot building will bring the number of office buildings at The Digital Hub to nine and represents an investment of almost 4 million in the refurbishment of the historic premises.

InBUSINESS | Q3 2015

05/10/2015 11:35

START-UPS

Maeve Harrington, Director of KnowledgeBase and Jillian O’Sullivan, Partner in Grant Thornton

START-UP PROFILE: KNOWLEDGEBASE KnowledgeBase is a Dublin based e-Learning start-up co-founded by Peter Stewart and Maeve Harrington. Launched in March 2015, KnowledgeBase’s interactive e-Learning resource provides busy professionals with detailed information on a range of important legal, regulatory and business subjects. KnowledgeBase’s first offering is an interactive online guide to the new Companies Act 2014. Stewart is a veteran of a number of start-ups in the financial and management services sectors, while Harrington is an experienced marketing professional with over 23 years’ experience gained across a range of industries. The firm has recently announced details of a new partnership with business advisors Grant Thornton. For more details visit knowledgebase.ie.

Patrick Walsh, Managing Director of Dogpatch Labs, Minister for Jobs, Enterprise and Innovation Richard Bruton and Ronan Harris, Head of Google Ireland

TOP DOGS TO BE MENTORED UNDER NEW PARTNERSHIP The Google for Entrepreneurs Tech Hub Network is expanding to Dublin by partnering with Dogpatch Labs, one of Ireland’s leading start-up organisations. The goal of the Google Tech Hub partnership is to open new doors to mentorship, investment and growth opportunities, and to help developers and entrepreneurs launch new ideas and turn them into thriving young companies. Dogpatch Labs members will now also have access to Google Tech Hub co-working spaces in over 20 locations globally including London, San Francisco and Tel Aviv.

APP FOR STARTUP CORK LAUNCHED

The Startup Cork programme and app have been launched by Project Director for Cork innovates Siobhán Finn, with Startup Cork Ambassador Donncha O’Callaghan. The programme for The Startup Gathering 2015 includes over 50 events that will take place throughout Cork from October 2-10. The full programme of events is available for download on the Startup Gathering 2015 app and online at startupireland.ie/startupgathering.

Barry Guiney, CEO of 4Impacts Intelligent Solutions; Startup Gathering Cork City Region Co-ordinator & Cork innovates Project Director Siobhan Finn; Startup Cork ambassador Donncha O’Callaghan; Blaine Doyle, CEO of GlowDX; Veronica Kenneally, MD of Veronica’s Snacks and Diarmuid Lynch, Bank of Ireland

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ENTREPRENEUR

In this issue’s entrepreneur slot, InBUSINESS caught up with Paul Young, Co-founder and Chief Executive of Kilkenny-based Cartoon Saloon. 015 has been quite a year for illustrator and cartoonist Paul Young. The humble Roscommon native spent the summer promoting Song of the Sea, the Oscarnominated animated feature film which he produced. He has also been named as an EY Entrepreneur of the Year finalist, not to mention joining forces with Hollywood A-list star Angelina Jolie on upcoming feature The Breadwinner. He’s even landed his dream job as a newspaper cartoonist. InBUSINESS spoke to Young about how, despite now being recognised as an entrepreneur, he is still holding on tight to his pencil.

Q: You’ve obviously had a fantastic response to Song of the Sea but how much of a gamechanger was The Secret of Kells being nominated for an Oscar in 2010? A: It certainly helped and it was a massive surprise. We went to the States and had some screenings there beforehand. There was a bit of a delayed reaction in seeing the real benefits from a business perspective but it certainly did help because word about the film started to get out and DVD sales picked up in the States, before it finally went on to Netflix. It was then that people started to understand who Cartoon Saloon were and we started to get interesting offers to partner on films, some which we explored and some which we didn’t.

Q: Can you give us some background on how you first became involved in animation? A: I was always into drawing. I grew up in Boyle, Co Roscommon but I went to art college at the University of Ulster in Belfast. I took a few years out travelling and doing caricatures in places like Greece. After that, I went to Ballyfermot College to study animation because that seemed to be the best way to get a job in the industry. That’s where I met Tomm Moore and Nora Twomey. When we finished college we all went down to Kilkenny where we started to work on the trailer for what became The Secret of Kells.

Q: How difficult is it to get funding for an animation film in Ireland? A: It took us a long time in the beginning. There’s only a couple of people making animation films in Ireland. Having done two in the past ten years we are pretty prolific in that sense. Most studios are doing television, short films and commercials. When we started the company we had an idea for the Secret of Kells, which ended up taking us seven or eight years to get going. The way we

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A still from the upcoming animated feature film The Breadwinner, which is the story of Parvana, a young girl living under the Taliban regime in Afghanistan, who must disguise herself as a boy and become the breadwinner of the family when her father is unfairly imprisoned. A story of self-empowerment and imagination in the face of oppression, The Breadwinner also celebrates the culture, history and beauty of Afghanistan. A version of the film will be produced in Dari in addition to the Englishlanguage version.

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ENTREPRENEUR Irish accents. We have Chris O’Dowd narrating the series along with some lovely Derry accents. The Irish accent is legitimate now.

Pictured at the Oscar Nominees Luncheon were Paul Young, Co-Founder & CEO, Cartoon Saloon; Screenwriter Will Collins; Tomm Moore, Co-Founder & Creative Director, Cartoon Saloon; Eric Beckman of GKIDS

Song of the Sea

“ANIMATION

IS A VERY

COLLABORATIVE INDUSTRY SO THE BEST THING ANYONE CAN DO IS TO SHARE

THEIR IDEAS

AND GET

WORKING WITH A TEAM

AS SOON AS POSSIBLE. A LOT OF PEOPLE SIT ON IDEAS FOR YEARS. THEY WRITE SCRIPTS IN ISOLATION BUT YOU REALLY HAVE TO SHARE YOUR WORK.”

016 InBusiness Q3 2015_Paul Young.indd 18

Q: Do you see yourself as more of a cartoonist than an entrepreneur? A: I used to very reluctantly consider myself a producer so I’m an extremely reluctant businessman. I always want to be considered a cartoonist. I’m definitely a bit of both because we’ve had to figure out the business side of things ourselves as it was hard enough to find examples to follow. When going to the markets, such as MIPCOM in Cannes, we saw other people around Europe doing what we were trying to do so we latched on to people who seemed to know what they were doing. We’ve had to become businesspeople while holding on tight to our pencils. did it was through European co-production and having partners in France and Belgium after attending an event called The Cartoon Movie that took place in Potsdam, Germany. It was there that we met a French producer who agreed to partner with us. What I found interesting is that you really need to meet people seven or eight times before you’re ever going to do business with them. You have to believe that you’re going to be around in another five years. Animation is a long process. People want to know that you’re around for the long haul. Q: Is there anything more the Government could be doing to support the animation industry? A: I’m very happy that the Government has kept Section 481, the tax rebate scheme for film and television. We’re the envy of the world with it. One thing that would be a great help is if the Government could introduce more co-production treaties. Canada has a coproduction treaty with almost every country in the world and it has helped their industry to no end. In a lot of countries there is a set budget on the amount that has to be spent on children’s television and animation. We don’t really have that here and it would be great to have more incentive for Irish producers to do more animation for Irish audiences. As it stands, we could end up with a lot of Irish children growing up with American and UK accents. It’s impossible to finance Irish animation without going outside the country and then you’re left with the pressures of making it more international. We have tried to counter that with Puffin Rock, our TV series which we have now sold to Netflix, Nickelodeon UK and RTÉ among others. It’s been brilliant. They love the

Q: Do you have to look outside Ireland when attracting top talent? A: We do have to look elsewhere but there is a lot more talent in Ireland now which is great. The studios are doing their best to work with the colleges but there’s not enough graduates yet to have all-Irish crews. We have animators from Italy, Spain, France, Denmark and they’re a great influence so it’s a lovely mix in the studio. But we have more Irish people than we’ve ever had so that’s wonderful too. Q: Do you have any advice for young animators who are trying to get a break in the industry? A: Animation is a very collaborative industry so the best thing anyone can do is to share their ideas and get working with a team as soon as possible. A lot of people sit on ideas for years. They write scripts in isolation but you really have to share your work. If you’re starting a business you should definitely go straight to the markets, even if you don’t have anything to sell yet. It takes such a long time to finance anything that you may as well start the relationships now. Q: What are you most proud of to date? A: I’d say Song of the Sea, although I am pretty proud of doing a job that I always wanted to do before getting into animation, which is working as a newspaper cartoonist for the Sunday Independent. I just rang up the business editor, Tom Molloy, who I had known in a past life. I was looking to do more editorial cartoons as I had been doing some for The Kilkenny People. Now I do the business interview caricature each week. It’s great, every Friday morning I get the chance to just draw. There’s nothing like a newspaper deadline either! InBUSINESS | Q3 2015

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COVER STORY

The New

Disruptive innovations, new business models and radical thinking are having a huge impact on how we work today. But what does the future of work look like? JOSEPH O’CONNOR sat down with Jo-Ann Feely, Board Director and Global Client Partner at Alexander Mann Solutions, to find out more.

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Conor McCabe

o-Ann Feely has only a brief window for which we can meet. Tomorrow she commutes to London. Next week will see her in New York. But today she makes time for our interview in the Marble Bar at the Westbury Hotel, Dublin. Feely is as well placed as anyone to comment on the future of work. By way of background, she has spent almost 21 years in the HR transformation and outsourcing industry, 14 of those with Alexander Mann Solutions, the global talent acquisition and management firm founded by Dubliner Rosaleen Blair in 1996. When Feely joined the London-headquartered company it had a staff count of 80. Today it employs over 3,200 people with 65 blue-chip clients in 80 countries across the globe. Given the firm’s worldwide presence and Feely’s dual role as Global Client Partner and Board Director, you could say her work life resembles that of George Clooney’s character in Up In The Air. Typically, in any given week, she’ll find herself in the UK. Usually she spends two to three days in London, with trips to the US and Asia required four to five times per year. Her commute, however, is very much dependent on her clients’ needs, all of whom are major players in the world of investment banking. She mentions a few: Citigroup, Credit Suisse, Bank of America Merrill Lynch, Deutsche Bank. Fortunately for Feely, unlike Clooney, she is on a mission to hire rather than fire, which gives her a unique insight into the changes taking place in talent acquisition and the general world of work. “We’re starting to get a glimpse

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I‘VE LEARNED THAT YOU HAVE TO BE REALLY DISCIPLINED. WHEN YOU ARE NOT PRESENT AND PEOPLE CAN’T SEE YOU, IT’S HUMAN NATURE TO FEEL YOU NEED TO PROVE YOUR VALUE THAT MUCH MORE.”

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of what’s ahead,” she says. “Especially as millennials are entering the workplace.” It’s this millennial generation – those born between 1980 and 2000 – that is reshaping how we define work. By 2020 it is estimated that they will account for 50 per cent of the global workforce and, according to Feely, they have a very different attitude to what work should look like. “Their perspective on the values around the companies they want to work for and how they want to work is very different,” she explains. “Many of them don’t see themselves as working in offices but instead working virtually. Also, many don’t see themselves as working for the same company for more than 18 months, which is quite significant.” And these millennials matter. Not only because they are a very different generation to the ones that have gone before, but they are also bigger in numbers than any since the soon to retire baby boomer generation. What has made them so unique is the dominance of technology in their lives. For this reason, digital technology has been the real gamechanger and we are already seeing the impact it has on how we work. “My travel has cut down substantially because there are so many more tools at our disposal,” says Feely. “Using Skype and video link phonecalls is very acceptable these days, even at senior level meetings. People are not expected to be there. As a result, it is possible for people to have a much more flexible working environment and, in fact, they expect it.” The statistics back up these expectations. A recent report from PwC entitled Millennials at Work – Reshaping the Workplace finds that 41 per cent of millennials say they prefer to communicate electronically at work rather than face-to-face. So will we lose out as a result of having less human interaction in the way we work? Feely doesn’t see it that way. While it will change the way we communicate on some level, she believes that new technologies also facilitate a greater interaction with communities as well as potential customers and employees. “It’s interesting. My strong sense, and through the work we do with our clients, is that it is actually increasing the opportunity for connectivity with people and communities outside the workplace. If anything, the new tools have facilitated that better. At the end of the day you still need to have great engagement with your clients and customers and that can only really be had through human touch.” Another characteristic of these millennials 22

020 InBusiness Q3 2015_Cover Story.indd 22

is their brand awareness. There are signs that they are much more attracted to employer brands that they admire as consumers. This is resulting in companies having to be more conscious of their reputation in order to attract top talent. We are seeing more engagement between multinationals and local communities as firms realise the worth of investing in CSR. “More and more large brands will develop a very local presence,” asserts Feely. “One of the big retail organisations we work with has set up a number of running clubs within the local communities where they operate. They are in the sports retail sector so understanding and working with the youth in those communities is very important.” The way we manage our work-life balance is changing too. As we see a much more flexible, freelance and collaborative work world evolve, it is inevitable that the lines that differentiate our work lives from our normal lives will become more blurred, and I was interested to get Feely’s take on it. “I’ve learned that you have to be really disciplined,” she says. “When you are not present and people can’t see you, it’s human nature to feel you need to prove your value that much more. It’s also harder to take breaks. In the office having colleagues interrupting you on a regular basis for catch-ups means you’re more inclined to take a break. It does benefit companies but it also benefits people, it’s a double-edged sword. Companies need to be flexible but you as an individual need to be very disciplined so you don’t lose that sense of balance.” One section of the workforce who stand to benefit are those with parental responsibilities. Feely, who herself is a mother of three, sees this as having a positive knock-on-effect for gender balance in the workplace. While research suggests that women still take on the lion’s share of responsibilities at home, parenting responsibilities are much more evenly split than they were in previous years.

CV: Jo-Ann Feely ROLE: Global Client Partner, Board Director LIVES: Fairview, Dublin FAMILY: Husband Ralph Mills, children Ella (12), Leo (6), Isabel (6) CURRENTLY READING: Bossy Pants by Tina Fey FAVOURITE FILM: Little Miss Sunshine by Jonathan Dayton and Valerie Faris HOBBIES: Running, GAA and rugby (avid Dublin and Leinster supporter)

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WINNERS AND LOSERS Like most major advancements taking place in the world today, they come with both advantages and disadvantages. But who, ultimately, will benefit from all these changes - the employer or the employee? The sceptics among us believe that big company capitalism will reign supreme as profit margins dominate a model built around flexibility and speed to market. That the new work model will enable companies to scale back on pensions, health and other benefits and make greater demands from their flexible workforce. Feely, however, believes that the real onus is on employers to adapt to how people live their lives. “The challenge at the moment is for the employer because so many of the traditional industries really need to change their attitude and their outlook around how the workplace of the future is going to be. They really need to put some thought into how they engage so that it is reflective of how people live their lives.” There are plenty of considerations for candidates too. Feely warns of the perception that working for the newer, more innovative high tech companies will lead to a much more positive working life. “We often hear of the high-tech Silicon Valley firms being at the forefront of technology in their industry and there is no doubt that they are,” she says. “But some of the more traditional industries are also changing the way they work and candidates should not overlook that. Sometimes the opportunity to be in InBUSINESS | Q3 2015

020 InBusiness Q3 2015_Cover Story.indd 23

THE N E

digital marketing, for example, within a traditional banking organisation is equally exciting because you’re actually at the forefront of changing how the organisation works.” In terms of how employers choose to adapt to the changes taking place, Feely offers a caveat: avoid blindly following trends. “There’s a real temptation for companies to jump on the bandwagon. It’s important that you recognise what works for your organisation and what will be adopted and sustained versus just jumping on something because it’s the next big thing. The future of work and how things are going to change still has to fit in with your industry. It can’t just be something that you see as committing to now and not in the future.” With such significant changes taking place at such a rapid pace it is imperative that we understand which new tools and ways of working help drive positive change. Talent acquisition and management experts such as Alexander Mann Solutions – with the insights they hold – will certainly be at the heart of these debates despite many having believed the sector as a whole was becoming redundant. In fact, if anything, it’s booming. These industry specialists are well placed to provide real-time insights, keeping their pulse on both the corporate world and candidates as businesses navigate their way through a rapidly changing landscape. Either way, Feely is optimistic about what’s ahead. “It’s exciting,” she says. “We have a unique opportunity to change the way in which employers engage candidates and people in general have a unique opportunity to change the way they work. “The age-old adage of ‘work hard and reward will follow’ to an extent still holds true. But equally, working smarter and being much more fulfilled as a person is also an opportunity. I’d like to think that’s something my children will benefit from. If people have a much more balanced perspective of the role work plays in their life, it can only be a positive thing.”

WORK O ER: RD

The future of work can only improve this further. “The opportunity to work flexibly and remotely certainly benefits families and returners, people who are in a period of their career when they need much more flexibility, if they are the primary carer for children or indeed for ageing parents. It will lead to better gender balance and hopefully we’ll see it more on boards, not just more women on boards but more flexible working right to the top.”

PEOPLE

44% 36% of people believe the most important thing in a job is job security

are building their strategies around their organisations’ social and environmental conscience

64% 31% of people believe that technology will improve their job prospects

are employing only the best and offering long-term job security and reward

65% 46%

of people want to work for an organisation with a powerful social conscience

expect at least 20% of their workforce to be made up of contractors or temp workers by 2022

29% 31%

of people want the chance to take control of their career, what they do and when do it

are hiring a diverse mix of people on an affordable ad hoc basis

WHAT WILL TRANSFORM THE WAY PEOPLE WORK OVER THE NEXT 5 TO 10 YEARS?

53% 39% 36%

technology breakthroughs

resource scarcity shifts in global & climate change economic power

33% 26% 13% demographic shifts

rapid urbanisation

don’t know/ not sure

The results of a 2014 PwC survey of 10,000 members of the general population based in China, Germany, India, the UK and the 23 For more US, as well as a global survey of 480 HR professionals. findings from the PwC Future of Work study go to www.pwc.com

05/10/2015 11:43

INDUSTRY FEATURE

MAXIMISING

MEDTECH Ireland’s medical technology sector is flourishing with a community of established and emerging companies clustered mainly in the west. InBUSINESS takes a look at one of the country’s most promising industries.

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INDUSTRY FEATURE

f you’re in hospital and in receipt of a cardiovascular stent, take some comfort in the fact that there’s a four in five chance it has been made in Ireland. The medical technology industry, or medtech, is one of the biggest growth industries in the country. Eleven of the top 13 multinationals have locations here, including Abbott, Hospira, Medtronic, Johnson & Johnson, Baxter and Boston Scientific. There are also a host of established indigenous companies and smaller emerging start-ups. There’s a confidence in the sector too; a recent industry report revealed that 92 per cent of medtech companies operating in Ireland feel confident about their business. Over 40 per cent were planning to hire new staff in the coming months and 68 per cent were expecting sales to rise. It’s a rapidly evolving area. More than half of those companies operate a dedicated R&D operation and approximately a quarter of them have a shared services mandate. It’s a well-integrated sector and is ranked number one in the world for the exchange of technology and ideas. Government investment in R&D includes a range of programmes and initiatives such as the country’s first human stem cell manufacturing sector (CCMI) and the SFI CÚRAM Centre for Research in Medical Devices at NUIG, the Biomedical Diagnostics Institute in Dublin, the Healthcare Innovation Hub in Cork and the BioInnovate Fellowship Programme, also at NUIG. CENTRE OF EXCELLENCE Medtech is also a big employer. Indeed Ireland has the highest number of personnel per capita employed in the sector, mostly located in the west of the country, and therefore a pool of experience and talent. The cluster effect that has come about around Galway has been the launch pad of several start-ups. The sector aims to address unmet clinical needs through technology and innovation, so collaboration between the tech, business and medical community is pivotal. Dr Mark Bruzzi, Director of BioInnovate Ireland, a university-based programme that enables entrepreneurs to come up with innovative medtech start-ups, says the flow of information and communication is essential: “Our opportunity and our challenge is the interaction between the business, clinical and technology communities here. “The cluster effect in the west of Ireland has come about due to the talent, the recognition of our clinical community and the interaction with the business and tech community. The other advantage is the innovative culture – high value products can be innovated here.” The trends in the sector are for medical devices to become smaller, for solutions and monitoring to become remote and for digital healthcare or app-based solutions. Opportunities for the industry lie in the expanding patient base globally, particularly in emerging markets with a growing middle class; the increase in total population and specifically senior population; increases in chronic diseases; and improved access to healthcare worldwide. InBUSINESS | Q3 2015

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MADE IN IRELAND

2nd

largest exporter of medtech products in Europe

50%

of ventilators used in acute hospitals worldwide

33%

of the world’s contact lenses

30m

people with diabetes use Irish made injectable devices

a9.4 bn in medtech exports annually

SUCCESS STORIES InBUSINESS looks at a number of recent success stories from the medtech sector. EMBO MEDICAL

Embo Medical developed a safer, more cost-effective device for carrying out embolisation, a procedure to stop blood flow to a diseased organ or vessel. It is used to treat cancer and internal bleeding. Current devices are cumbersome, expensive, can migrate from their intended location and are time consuming to implant. Embo’s solution is the Caterpillar, a one-shot embolisation device. There are 220,000 embolisation procedures performed annually and the market is expected to grow to $500 million over the next five years. Embo Medical received a3m in funding to develop and manufacture its product in Galway.

CROSPON

Galway-based Crospon develops minimally invasive medical devices for imaging and aiding surgery in the oesophagus and stomach. EndoFLIP Imaging System is the first in a range of products the company is bringing to market. It is the first system to allow surgeons calibrate surgery of the oesophagus, stomach and other hollow organs to produce more consistent surgical outcomes. The system will also eliminate the need for fluoroscopy and therefore radiation exposure during dilation procedures. Crospon was named Irish Medical Technology Company of the Year in 2009 by the Irish Medical Devices Association and was awarded the 2012 European Enabling Technology Award for Surgical Imaging Technology by Frost and Sullivan.

*IDA Ireland

Pictured during an Enterprise Ireland study visit to the African medical technology sector: Thembi Malebye, Enterprise Ireland, Johannesburg; Adrian McHugh, Crospon Ltd; Ronan Gilligan, Hospicode Ltd; Mark Greene, Brentech Ltd; John Shiel (Enterprise Ireland)

05/10/2015 11:44

INDUSTRY FEATURE

VERYAN MEDICAL

Veryan Medical has developed a highly innovative vascular biomimetic stent technology (BioMimics 3D) for use in the large arteries of the leg. The company is headquartered near London but all of the R&D has been conducted from the company’s facility in Galway, where more than 90 per cent of the company’s staff are based. Veryan successfully conducted a randomised study of the BioMimics 3D stent, which showed that the device has significant clinical benefits over its competitors. As a consequence the device received CE marking in 2012.

Veryan Medical’s BioMimics 3D

3D4MEDICAL

3D4Medical specialises in developing educational health, fitness and medical apps for professional reference and student training. Its apps have revolutionised the teaching and learning of anatomy, physiology and exercise by enabling users to navigate 360° views of the human body. 3D4Medical’s apps have been downloaded more than 8.5 million times and Apple’s Vice President, Michael Tchao, described Heart Pro as “one of the best apps ever”.

These factors could drive sales but need to be exploited, says John Shiel, Senior Development Advisor for Enterprise Ireland with particular responsibility for medtech: “Last year the life sciences sector returned 13 per cent growth in exports and five per cent growth in employment. That’s pretty good and we’re quite pleased but we need to sustain and improve impetus and we need to sell more. “Our job is to help companies expand on export markets. Our internal market is small so we need to get into new ones, in particular highgrowth markets like BRICS and Sub-Saharan Africa. What we’ve noticed in these markets is the rapidly emerging middle class; they’ve got money to spend and they want top quality healthcare. That’s where we’re trying to position our clients.” Shiel says Enterprise Ireland attends a range of events to facilitate sales and expansion into new markets for the indigenous sector, such as Africa Health and Arab Health trade events. It also organises the Med in Ireland event, Europe’s largest medtech conference, inviting around 300 buyers and decision-makers. Like most sectors, finance and particularly funding for early-stage start-ups is a challenge – the products are expensive by their nature. Underpinning this is the need to develop costeffective products, to maintain operating costs and product pricing and to foster a favourable financial environment. Medtech is an important industry for Ireland and a significant source of employment but it’s also addressing real clinical needs, alleviating the pressure on hospitals and improving patient health. See side panels for some of the Irish medtech success stories.

BioInnovate Fellows 2013

BIOINNOVATE BioInnovate is a specialist medical device innovation fellowship programme at NUIG. Its aim is to address unmet clinical needs with a market opportunity. Fellows spend the first five weeks of training in needs finding and filtering, followed by eight weeks in clinical immersion. They also receive mentorship from industry experts, clinicians, venture capitalists and academics. Two technologies go forward each year to receive grant aid. They are then incubated and accelerated in the university. BioInnovate recruits from a range of backgrounds including medical, technical, business and engineering. Applications are now open for the innovation fellowship 2016/17. www.bioinnovate.ie

3D4 produces educational health, fitness and medical apps

APICA CARDIOVASCULAR

Apica Cardiovascular is a medical device company dedicated to establishing innovative medical devices for the treatment of cardiovascular diseases, which are reaching epidemic proportions in several countries. The Apica ASC (access, stabilisation and closure) device facilitates access and closure in heart surgery. The company was acquired by Thoratec last year. Having successfully launched the Apica device the company is continuing to develop products in this area.

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Dr Mark Bruzzi, Director of BioInnovate Ireland

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05/10/2015 11:44

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BUSINESS OF SPORT

ften accredited to American showman P.T. Barnum, the old adage that there is no such thing as bad publicity hasn’t exactly been embraced wholeheartedly by businesses. If it does happen, it’s usually a mistake, and a quick public apology is offered by a red-faced company. For example, earlier this year in South Africa Bic faced the ire of the internet on Women’s Day 2015, when it posted an image on social media sites that read ‘Look like a girl, Act like a lady, Think like a man, Work like a boss’. The predictable backlash was swift against a company that has also launched pink pens designed especially for women, to widespread ridicule. Paddy Power, the company that has recently merged with Betfair to create a betting behemoth, is another matter. Their marketing strategy seems to be about deliberately making the biggest waves possible. Indeed, the head of their marketing department, Ken Robertson, has the slightly unbusinesslike title of ‘Head of Mischief’. Recent campaigns that have landed the company in hot water include a billboard placed near the Aviva Stadium before the Ireland v Scotland football international

Love them or loathe them, bookmakers Paddy Power know how to produce a successful PR campaign. CONOR FORREST takes a look at the marketing behind the madness.

in June, which featured Roy Keane mocked up as William Wallace proclaiming ‘You may take our points, but you’ll never take our freedom’. Keane, however, failed to see the funny side, and launched a High Court action alleging his image rights had been infringed. The brand also brought an international spotlight to bear on its activities as a result of the ‘It’s Oscar Time’ and ‘Money back if he walks’ betting offer on the Oscar Pistorius trial of last year, which became the most complained about advertisement in Britain for the entirety of 2014, and was described by the Advertising Standards Authority there as having “brought advertising into disrepute”, no mean feat. INGENUITY While their campaigns continue to court controversy, there is clearly an element of sheer astuteness and timeliness to many of Paddy Power’s marketing efforts. For example, during the horsemeat scandal that broke in Europe, the company launched a cookbook entitled Cooking up Mischief – Six Delicious Horse Meat Recipes and later set up a ‘Free Horse Burger’ stand in Dublin’s Merrion Square. In another publicity stunt that garnered a lot of attention, two Daft Punk look-a-likes arrived

Stephen Hawking provided a mathematical perspective on England’s chances in the 2014 World Cup

at the 2014 Brit Awards, made it in front of the cameras and promptly dropped their trousers to reveal Paddy Power underwear. And, as this year’s marriage referendum drew nearer, Paddy Power invested in a rolling Dublin billboard Paddy Power recruited featuring two Nigel Farage to front balaclavatheir Ryder Cup advert clad men in an embrace, alongside the words ‘Tiocfaidh Ár Lá’. But, for sheer ingenuity (with

Masters of

MISCHIEF 28

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BUSINESS OF SPORT

PADDY POWER’S MISCHIEF: THE TOP FIVE 2002

We leaked a fake photo and everyone went nuts. But every 90 minutes, an area the size of 122 footy pitches* is chopped down, and no one gives a monkey's. So if you're twiddling your thumbs waiting for the World Cup to start, log on to blog.paddypower.com and show the trees some love. Chop, chop. *Figure from greenpeace.org

Paddy Power’s Amazon rainforest stunt

a good sprinkling of mischief), it’s hard to beat the campaign in which they pretended to cut down hundreds of trees in the Amazon rainforest in order to spell out ‘C’MON ENGLAND PP’ just a week before the 2014 World Cup kicked off in Brazil. The outrage was instantaneous and rippled across the world, with thousands of furious social media users branding the stunt ‘ridiculous’, ‘idiotic’ and disgraceful’. Those same people were left a bit red-faced, however, when it soon emerged that it was in fact a monthlong campaign that involved the painstaking digital recreation of a 3-D rainforest. The company let the fury build over several days, before ﬁnally coming clean with another doctored image that spelled out ‘We didn’t give the Amazon a Brazilian’, accompanied by an appeal for donations to Greenpeace. A DISTINCTIVE BRAND It’s an aggressive form of guerilla marketing, and there’s no doubt that it works. Since the beginning, the company has set out to establish itself as a brand apart from its competitors, similar to Ryanair in its earlier days. As the company says itself in a synopsis of its strategy: “Distinctive brand positions are critical to standing out in a crowded marketplace, and focusing on these areas will ensure we retain our lead in marketing efﬁciency.” Increasing publicity by provoking a reaction appears to be one of the InBUSINESS | Q3 2015

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main strategies, as noted in recent campaigns such as the marriage referendum billboard earlier this year, and the recruitment of Nigel Farage, leader of the UK Independence Party and noted for his anti-EU views, to front a Ryder Cup advert entitled ‘Nigel Swings for Europe this Ryder Cup’. Aside from their live action stunts, Paddy Power’s PR proﬁle is bolstered by two tenets – content and engagement are king. The Paddy Power blog, for example, features irreverent, witty and insightful sporting content and celebrity columns from Gary Neville to Stephen Hawking; the latter provided a mathematical perspective on England’s chances in the 2014 World Cup. And their Twitter page engages its followers with the brand through a never-ending stream of news, offers, memes and, what it is known for most of all, banter. Add to that a betting service that combines regular offers with novelty bets to draw the interest of more than just the average punter, such as opportunities to place bets on the next volcano to erupt, when alien life will be proven or the next person to win the Nobel Prize, and you have a recipe for success (and infamy, too, it would seem). Speaking to BBC HARDtalk in August, Paddy Power himself put it best: “You want people to talk about your advertising, you want it to become a topic of conversation and not just the wallpaper.”

An ad featuring two elderly women crossing a pedestrian crossing with two odds bubbles above their heads became the most complained about ad in the UK that year, possibly aided by a 4x4 in the background which gave the impression of betting on who would be run over first.

2012 During a Euro 2012 Group B meeting between Portugal and Denmark, Nicklas Bendtner celebrated his goals by showing off his special Paddy Power branded underwear. Bendtner was fined 100,000, considerably less than most other footballing fines, including the 25,000 fine levied against the Croatian Football Federation when their fans set off fireworks and threw missiles during a game against Ireland.

2014 Paddy Power infuriates people worldwide before the 2014 World Cup by posting an image to Twitter that suggested they had removed hundreds of trees in the Brazilian rainforest in order to spell out a good luck message to the England team. Cue red faces when it was eventually unveiled as an elaborate hoax.

2014 On fire during the World Cup, Paddy Power enlisted the help of a most unlikely columnist to calculate England’s chances – physicist Stephen Hawking, who touched upon the mathematical aspects of important topics such as the influence of WAGs, environmental factors and how to take the perfect penalty.

2015 Paddy Power sends a rolling ad around the streets of Dublin featuring two men in balaclavas kissing, accompanied by the slogan Tiocfaidh Ár Lá and odds on the Yes or No vote. Cue instant outrage on Twitter.

05/10/2015 11:47

Value through Innovation

Even after a century of experience, we remain intensely curious. For the sake of future generations. Boehringer Ingelheim has always remained true to its character as an independent family-owned company. Our vision drives us forward. It helps to foster value through innovation in our company and to look to the future with constantly renewed commitment and ambition. Today, we operate globally with 142 affiliated companies in 50 countries. With more than 41,500 employees worldwide and a track record developed over 125 years, we are dedicated to improving the outlook for healthier lives. www.boehringer-ingelheim.ie

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05/10/2015 16/07/2015 14:43 14:11

FEATURE

Last July Sugru raised over £3.5 million in a crowdfunding campaign initially intended to raise £1m. JOSEPH O’CONNOR spoke to Irish founder Jane Ní Dhulchaointigh about how it will help bring her mouldable glue to the masses.

InBUSINESS | Q3 2015

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05/10/2015 11:54

FEATURE

he phenomenon of crowdfunding is booming. As we witness the emergence of a much more shared economy, collaborative funding via the web is fast becoming the mainstay of technology and new product investment. Just ask Sugru founder Jane Ní Dhulchaointigh. In July of this year, her London-based start-up smashed two equity crowdfunding records: the largest single investment of £1m and the widest reach with stakeholders in 68 countries. To many, it’s no surprise that it proved to be the perfect financing choice for Sugru given that it was an online community of users in the first place that helped catapult the product to global heights. So what exactly is Sugru? Described by Ní Dhulchaointigh as a “space age playdough”, it’s a mouldable glue that has a similar consistency to plasticine when it comes out of the packet, but bonds to most materials and becomes a durable rubber within 24 hours. It’s ideal for fixing things; whether that’s repairing shoes, securing cables or replacing rubber on ﬂexible parts that need to move. It was named by Time magazine as one of the 50 best inventions in the world the year it launched. That was back in 2009 when, after six years of development funded by a £35,000 grant, Ní Dhulchaointigh and co-founder Roger Ashby were satisfied that the prototype was ready for market. Though it’s still not profitable yet, it turned over £2.3m last year, employs 50 staff and is valued at around £25m. Not bad for the Kilkenny native who came up with the idea while studying product design at the Royal College of Art. “Shell-shocked” is how Ní Dhulchaointigh describes her response to the crowdfunding campaign, which raised £3,548,820 from 2,700 investors, 355 per cent above the original target of £1m. She says there were a number of factors that led her to believe that crowdfunding was the right fit for Sugru. “It’s something that we’ve been watching for a while because of the nature of the business. People use Sugru and then tell their friends about it, what they’ve done with it, and that’s basically how we’ve grown. Also, when they’re early in on something that they believe is going to be in everyone’s kitchen drawer in ten years’ time, they’re thinking, ‘God, I wish I could have bought shares’. Those elements made us think it was a good fit and that we’d give it a go.

“Our instinct was right because our customers got very excited about it and we ended up raising our initial target from our customer base in about four days. Then the news got out that we were crowdfunding and it got into the press, so we ended up ﬂying past that and finished on around £3.5m.” Now Ní Dhulchaointigh is focused on Sugru’s growth strategy by forging new retail alliances around the globe. Its main markets are Ireland, Scandinavia and the UK. It is expanding into North America and in April signed a deal with department store company Target. But the strategy hasn’t changed, according to Ní Dhulchaointigh, as Sugru had the same “big growth plans” in its infancy. Big growth plans are one way of describing efforts to make your product as ubiquitous as the likes of Blu-Tack and Sellotape. “The reason we arranged the funding is because we have these plans,” she explains. “We’re in the midst of a rollout with several large retailers in the US, about 10,000 which we’ll launch in throughout this year, having already launched in around 5,000. Our story started on the internet and now it’s very much about getting one step closer to Sugru becoming something that you can just pick up while doing your shopping, not something you need to order online.” Sugru is not stopping there. It wants to become relevant to more consumers and has identified the lucrative home DIY and toy markets as areas to target. This does mean, however, developing the product further to ensure it reaches the correct safety standards. Ní Dhulchaointigh says it’s a work in progress. “Our aspiration for Sugru has always been that it would be accessible and useful for as many people as possible. One part of that that’s quite tricky is passing all the regulations. Sugru is adhesive so it has to bond very well to things and so we’ve had to compromise between the performance and strength of the material with how safe it might be for children. As it stands, it’s completely safe for fixing toys when it is cured but children shouldn’t play with it when it’s uncured because it is like other glues at that stage. If we can formulate Sugru to pass all the toy regulations it would be very exciting, a big market, secondary to home DIY. We’re working very hard on it and it’s going well.” With Sugru now available in over 160 countries, you have to wonder what it is that has made the product resonate with its legion of fans who take to social media to share their Sugru hacks with the world. According to Ní Dhulchaointigh, it’s down to a number of factors. The

Sugru’s timeline as they see it

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InBUSINESS | Q3 2015

05/10/2015 11:54

FEATURE

most obvious one being that it works. But the reason that people spread the word is because fixing something makes you feel good about yourself. “It’s empowering,” she says. “People say ‘I fixed that. That was me’. They’re in charge of their own stuff and they feel proud. It’s not so much about Sugru but it’s about how Sugru makes them feel about themselves.” Coinciding with a major recession didn’t hurt either. With an increased consciousness on consumption and waste, more and more people understand the true cost of things. “People feel that there’s more to life than how much stuff you have,” claims Ní Dhulchaointigh. “People like to show that they’re the sort of person who doesn’t waste money or doesn’t go around chasing after status symbols, that they’re the sort of person who is resourceful and clever about their consumption. It’s not necessarily about not having the money but the effect that not having the money has on how you think.” As Sugru continues to build operations in London, along with a growing team on the ground in the US, Ní Dhulchaointigh (who shows no signs of giving up her Kilkenny accent more than one decade on from her move to the UK) is remaining loyal to her homeland. The focus is about making the product more widely available in Ireland to a community that featured strongly in the crowdfunding campaign. “We are trying our best to get into as many stockists as we can because we have a lot of people using Sugru in Ireland. We do have a

InBUSINESS | Q3 2015

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Sugru creator Jane Ní Dhulchaointigh

Make your camera child-friendly

Improve your console controller

Secure your iPhone and cable

very strong community there. Before the end of the year we should have some big news around a major new Irish stockist, which will be great because people seem to like buying it from shops. I can’t announce it yet because the order isn’t 100 per cent in but we’re excited about that.” In terms of getting back to Kilkenny, Ní Dhulchaointigh makes the trip around five or six times per year. “I wish I could get back more,” she says. “I miss people there so hopefully as the team grows I’ll get home more often. We do bits of work with people in Dublin. For instance, I curated an exhibition with the Science Gallery last year. I’m very interested in this kind of work because I love the idea of helping more young people get involved in stuff that they’re interested in, whether it’s in science, technology, arts or whatever.” When she’s not busy inspiring young graduates to pursue their ambitions, Ní Dhulchaointigh is getting interview requests from and namechecked by major international media organisations. This year, she was listed by CNN as one of seven “tech superheroes” to watch. With recently raised capital in the bank, new markets in her sights and strong partnerships being forged, we’re certainly keeping an eye on what’s next for this young Irish talent.

05/10/2015 11:54

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05/10/2015 14:43

FEATURE

SNAP

CHAT IN THE PAST I ALWAYS THOUGHT JACOB’S CHOCOLATE KIMBERLEY WAS UNIQUE, AND FOX’S CRINKLE CRUNCH WAS PARTICULARLY INDULGENT. HOWEVER, I’VE TASTED A FEW OF THE

Michael Carey, Managing Director, East Coast Bakehouse

developed in the East Coast Bakehouse innovation centre, and I suspect I’ll have a new favourite soon.

NEW BISCUITS BEING

The former management team of the Jacob Fruitfield Group has established a new Drogheda-based biscuit business, which will employ 100 staff when fully operational in quarter one of 2016. Michael Carey is the man at the helm.

The total investment is a15 million, funded by equity, bank debt and Enterprise Ireland grants. The initial capabilities of the Bakehouse will include a full range of sweet and chocolate coated biscuits. There are some outstanding new food and drink businesses in Ireland, and some great entrepreneurial success stories. I believe there is room for further new start-ups of scale, businesses that are well financed and run by highly experienced management teams. InBUSINESS | Q3 2015

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Over 2,000 people have contacted us about potential employment opportunities in Drogheda and the retailers are being very encouraging. The worst day as an entrepreneur is better than the best day working as an employee of a multinational group! The team at East Coast Bakehouse has over 60 years’ combined experience in the biscuits sector. It’s good to be back together again!

I’ve learned that it’s vital to work as part of a team, that we need to spend a huge amount of time seeking to understand the needs of the customer, and that the

quality of the food on offer is crucial.

We want to establish a new food business of scale, capable of being competitive and playing on the global stage. Biscuits are a core part of Irish society; used as a snack, as an indulgence, as a gift. It goes well with tea and coffee.

05/10/2015 11:57

SME FEATURE

THE INDIE BOOKSTORE WRITING ITS

NEXT CHAPTER It has been a tough few years for the book trade in Ireland and abroad, and no one has felt it more than the independent bookseller. InBUSINESS paid a visit to Roe River Books in Dundalk where owner Tom Muckian talked the threat of Amazon and receiving a grant from a well-known American author. Q: Could you give us some background on your business?

A: We bought the bookshop in 2007. It was originally a school bookshop established in the early 1970s. While working in civil engineering I was asked by a client to survey the building. He had just bought the business, primarily for the premises, and had no real interest in the book trade. A few months later he indicated that he might be selling the business and I asked if I could have first refusal. An hour and several cups of coffee later, I had agreed to buy a bookshop. Initially intended as a sideline to my engineering work, the subsequent economic crash meant I spent more and more time on the bookshop. We moved to a larger shop unit in the first year and expanded the shop range to include general books. 36

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Q: Where did the name Roe River come from? A: As a retailer I’ve become increasingly aware of the impact that online shopping has been having on town centres and communities. Amazon is probably the best known and most successful online retailer, and I dislike just about everything they stand for. They siphon vast amounts of money out of every country they trade into and pay next to nothing in terms of tax revenue back in. Communities suffer, shops close and town centres increasingly become derelict wastelands. If the Amazon is the longest river in the world, and the Roe River – in Great Falls, Montana – is the shortest at just 61 metres long, I suppose we’re saying we see ourselves as their polar opposite. We’re familyowned and run, community and customer-driven, with a strong focus on human interaction.

Q: How have you managed to adapt to the changing landscape within the industry?

A: Unlike music and film, the strength of the book industry is that the format itself is something that has value. A book can be as beautiful to look at as it can be enjoyable to read. People have an emotional response to the book itself. E-readers are convenient, but the general consensus is that its market share has peaked at 20 to 25 per cent. Success in the bookselling industry is to know your customer. Provide the service they want, in a manner they appreciate, and they’ll stick with you. Q: Has the independent bookstore been more successful in ‘riding the storm’ than the big retailers?

A: I would say yes. In the Celtic Tiger years bookshops tried the supermarket approach to bookselling. Apart from the obvious bestsellers, big retailers chose to sell you what they wanted to sell rather than what the customer actually wanted; tables full of 3 for 2 offers on whatever titles the publisher wanted to

promote. Real book buyers and readers, in general, buy quality not quantity. Independents understand that and provide a better, if not always cheaper, service to the customer. Q: You have described owning a bookshop as not so much a career choice but a vocation. Please explain.

A: I’ve never once thought about retiring from bookselling. So long as people still want to buy books I will still want to sell them. I’m not sure I would feel that way about any other job. If you love books (and obviously I do) bookshops are simply nice places to be. I’m also quite evangelical about books and reading. Maybe I’m getting old but I do worry about the attention deficit generation being bred by the internet. Books are a beautiful counterbalance to the noise and clamour of what passes for reading on the internet. Q: As a small business owner in Dundalk, do you receive much support?

A: Unfortunately not. Local authorities aren’t equipped to help and simply don’t understand InBUSINESS | Q3 2015

05/10/2015 11:58

SME FEATURE

Tom Muckian, owner, Roe River Books

Q: What’s the best business

Q: What’s the biggest challenge you face as an SME in Dundalk?

A: Business rates. Rent is also an issue, but at least with rent, there are some landlords – like ours – who recognise the difficulties being experienced by retail. Rates, however, are far too high and in many cases people who choose to close down do so not because of a lack of footfall or business but because local authorities can’t, or won’t, reduce rates.

advice you’ve received?

A: Find something you love doing and then find a way to make money doing it. I’m still working on the second part. Something else I’ve found to be true is that when you have a business of your own, you don’t own the business, the business owns you. Anyone who’s ever been self employed will know what I mean. InBUSINESS | Q3 2015

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Q: Where would you like to see the business in five years from now?

A: Where it is, and thriving. I would like to see less of a dependence on school texts for our turnover. These are probably at the greatest risk from digital content. General books are my real passion and I’d love to see

Cristian Gãitan

the realities of retail. Decisions that impact on our ability to trade are made without any consultation by people who have no experience of retail. In November 2014 the local authority, without prior notice or consultation, turned the main street on which we trade into a taxi rank. This sort of arrogant indifference is, unfortunately, typical. Business organisations like the Business Investment District Scheme – of which I am a director – and the local Chamber of Commerce try their best but for most retailers it’s a real struggle to survive.

a continued interest in books and resurgence in town centre retail. Q: Roe River Books has been named as one of nearly 70 independent bookshops in the UK and Ireland to receive funding from James Patterson in the latest round of grants given by the American author. What’s the significance of this for your store?

A: It’s great news and we’re all delighted here at Roe River Books. A shop facelift is well overdue so the timing couldn’t be better. New signage and a repainted shopfront are a

must, and we hope to make a few internal changes to the layout of the shop. It’s also great to see someone like James Patterson undertaking this project to give back in such a direct manner. Beyond the financial benefit it’s a huge morale boost as well.

05/10/2015 11:58

MENTORS

Hustle First,

DISRUPT LATER Having built some of the most profitable web companies from these shores, Ray Nolan knows a thing or two about doing business. JOSEPH O’CONNOR met with the self-assured, laid-back techie who has his sights set on disrupting another industry.

ay Nolan certainly shoots from the hip. And why wouldn’t he? As one of Ireland’s most successful tech entrepreneurs, he doesn’t have much need to pander to Government or to toe a company line. What you get as a result of meeting with the Malahide man is a frank discussion – filled with expletives – on his successful and not so successful ventures, the start-up landscape here and the overuse of ‘entrepreneur’. Nolan is best known for making his fortunes from the sale of hostelworld.com, a site that revolutionised online travel through its simple business model. Back in 2009 he sold its parent company Web Reservations International (WRI) to private equity firm Hellman Friedman for around d200 million. But Nolan had already made his mark five years earlier, when he sold one of his first ventures, Coretime, to computing giant Sage. There’s been a lot in between for the now 49-year old. He chairs a number of internet companies, including healthcare search engine WhatClinic.com. He served as a non-executive chairman at leading flight search engine Skyscanner for three years. He was one of the first investors in Mark Little’s Storyful which was acquired by News Corp in 2013 for d18m. He’s a director for both Smartbin, a provider of management software to the waste collection industry, and Ding, ex-Esat boss Mark Roden’s mobile transfer company. 38

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A rugby fanatic himself, Nolan developed the Ultimate Rugby app with former Ireland international Brian O’Driscoll, which came about through a partnership formed back in 2003 when Nolan won the EY Emerging Entrepreneur of the Year Award. Then there’s worky.com, which was supposed to be a “LinkedIn for ordinary people”, but which failed to ever get off the ground. Nolan says the tech was awesome but the idea wasn’t. The site itself is still up and running, Nolan describing it as “a personal challenge to leave it up there.” Now Nolan is back with a brand new venture called XSellco, which he hopes will disrupt the online trading market. It’s been a couple of years and tweaks in the making. He and a team of developers specialising in web development, ERP, CRM, retail and distribution have been building the software platform to change how merchants sell online. XSellco went live in late 2013 and Nolan has already made clear his ambitions for the venture by acquiring competing company ReplyManager earlier this year, a Florida-based firm three times the size of his Dublin-headquartered business. The service is about what Nolan calls “alignment” and taking the pains out of supporting transactions, while enabling merchants to earn bigger margins when selling their wares on platforms like Etsy, Bigcommerce, eBay and Amazon. According to Nolan, feedback so far has been positive and he reads me a customer comment sent earlier that day via messaging app Slack: “This kind of message InBUSINESS | Q3 2015

05/10/2015 12:02

Jen Murphy

InBUSINESS | Q3 2015

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Illustration courtesy of Jen Murphy (@JenJen_Murf). Jen is a graphic design and caricature artist based in the west of Ireland. For further details contact: jenmurphy.designs@gmail.com

05/10/2015 12:02

MENTORS

STRAIGHT TALKER:

RAY NOLAN ON... THE BENEFIT OF BEING IRISH IN BUSINESS We are great businesspeople. We are more copped on than any other race in the world, bar none. I’ve always felt that being Irish really helps. It doesn’t just help because people have a natural affinity to Irish people because we’re all lovely, but our nature is to be very affable. You can have a bit of craic with an Irish person. NOT TAKING WRI PUBLIC We were naive and maybe naively advised but my regret is that we didn’t get an IPO done and I still haven’t done an IPO, and I will do an IPO if it fucking breaks me. Because I believe in a free market and therefore I’m prepared to pay for the privilege of having a company float. It should be a way that companies raise money but it isn’t. It tends to be a place for late stage companies to get out. NOT MAKING WORKY WORK My biggest awakening about worky.com was, I thought you could do something you weren’t passionate about, and just because you’re good at tech you could make it work. I’m not passionate about HR, I’m not passionate about getting jobs. I don’t understand it very well and even though we had people around us that did, I wasn’t waking up feeling great about it.

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Nolan developed the Ultimate Rugby app with former Ireland international Brian O’Driscoll

wouldn’t be unusual,” he says, checking his phone. “My standard one this morning is: ‘very, very impressed. My prices are 100 per cent in line with the Buy Box price which gives me huge competitive advantage.’ “Something like over one-third of people who use our CRM software have of their own volition written to tell us it’s great. You’re changing their lives. You’re allowing them to look after support on their phones.” That’s the common thread through all of Nolan’s work - making people’s lives easier and more efficient through innovative software. Despite his impressive track record in creating what are market-disrupting technologies, Nolan has only recently become comfortable with the notion of being called an entrepreneur. Just don’t mention the s-word! “It feels very hoighty-toighty to be called one,” he says. “But even worse to be called a serial entrepreneur. What’s a serial entrepreneur? If you’re an electrician and do

two houses are you a serial electrician? If you want to use the mantle ‘entrepreneur’, you can never be a serial entrepreneur. Because you either are or you’re not. There’s a lot of guys who failed five times calling themselves serial entrepreneurs. Look, it is what it is.” And there’s truth in what Nolan says. Great entrepreneurs tend not to describe themselves as an entrepreneur. If they really are an entrepreneur and have actually earned that title, they generally allow others to call them that, with respect, and over time. Nolan is a case in point and prefers to let the work do the talking. So what does he make of the current landscape for starting a business and all the talk about Dublin becoming a major start-up hub? “Look, anyone can start a business. You don’t have to be a genius. That means that guys who think it’s cool might start a business versus guys who have a good idea and who have the devotion in terms of man hours and effort. Until I was 30 I made a point of working every InBUSINESS | Q3 2015

05/10/2015 16:51

MENTORS

STRAIGHT TALKER:

RAY NOLAN ON... HIS RUGBY PLAYING DAYS A couple of years ago I played my last game. I could probably still play but not at a very high level. I would certainly like to believe that my boots are not hung up forever. Maybe there’ll be an oldies tournament somewhere worth going to.

InBUSINESS | Q3 2015

038 InBusiness Q3 2015_Nolan.indd 41

Christmas day. Sitting there, beavering away on code. I never put a clock on when was a good or bad time to work. I just worked.” Nolan is satisifed that a reasonably good ecosystem for start-ups exists here but has some stern words for any politician who claims to have contributed to it. “It’s great to have start-ups, they do employ people, there should be more of them,” he says. “I like that there’s an ecosystem for start-ups here but it’s not very well supported by the Government. I hate to see guys doing photo opportunities with TDs if a new start-up or a mid-sized company has created jobs. Because nothing that this Government and probably the government before did helped create that job. They just stood on the sidelines while the entrepreneurs made it happen.” HAVING TO HUSTLE So what advice does Nolan have for anyone trying to get a business off the ground? It’s

certainly not to network. “Network?” he asks. “Why network? Network with who? You see a lot of people networking with each other. Is that a good thing? To go to every meet up, start-up gathering, so that we can all share our woes? ‘I didn’t raise any money. Did you raise any money?’ If you’re talking about networking or meeting your customer, that’s networking. I would love to see people achieve more and network less.” For Nolan, a self-taught programmer, it’s all about hard graft and having to hustle. After leaving school at 16, he spent six years doing poorly in a DIT engineering course, one which he says he had no interest in. But he secured his first job at Smurfit by sending a CV and explaining he had failed all his college courses but that he could program. “Attending all these conferences is almost dodging the real thing,” he says. “People should hustle. If I had to start a new business today and I had no money, that’s what I’d be doing – and for clarity, I didn’t start mine in a garage because there was no fucking garage, I started with a laptop that was leased. I don’t know how the guy gave me the lease because I had no credit history. I worked wherever I could work and I never got any money, but I hustled.” He adds that people considering the prospect of going out on their own have the ability to do so while working in a full-time job. “You go home at five o’clock. You put in three hours on your new thing, and when you’re ready, you jump ship. That might give you a flavour of how many hours you’ll have to put in. Hopefully you’ll move at a time when you’re making money. Maybe you won’t but you’ll have gone some way down the line rather than having jumped into an incubator. I’m not slagging incubators but just to find yourself in a closeted world, you could have achieved, you could have written an early beta of the product, you could have opened the first store.” When asked why he doesn’t pack it all in himself given that he has already made his millions, Nolan says: “I don’t find it to be work. I know I’m privileged and I count my blessings that I am. I do what I want but I work.” Perhaps a recommendation by Australian entrepreneur Bill Liao, which can be seen on Nolan’s worky.com profile page, best sums up Nolan’s approach to business and life: “I would like to recommend Ray Nolan as a man who clearly knows how to get things done and who believes like I do that time spent raising capital is better spent making a great product and selling.” 41

05/10/2015 16:51

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05/10/2015 14:44

FEATURE

Hackathons have been around for several years, but these high-energy collaborative events are becoming more much mainstream and are not only for coders. CONOR FORREST takes a look at what’s involved.

HACK TO THE WHAT IS IT? A hackathon – which also goes by the name codefest or hack day and which refers to programming exploration rather than computer crime – sees enthusiastic computer programmers, software developers, graphic designers and many more gather for a day or several days of intensive collaboration on software (and sometimes hardware) projects at a structured event. Hackathons have been viewed as places for investors to discover new funding areas, or to quickly develop the next big thing. Hackathons are often competitive and informal affairs – many participants bring sleeping bags, and survive on energy drinks and fast food. WHO ATTENDS? Everyone and anyone! While you might think of a hackathon as being restricted solely to coders, that isn’t the case. DCU’s Innovation Academy has run several InBUSINESS | Q3 2015

043 InBusiness Q3 2015_Hackathons.indd 43

hackathons so far in 2014 and 2015, including Beefhack, Ireland’s first food hackathon with a total prize fund of a22,500 (a10,000 for first place), which saw people from around the world spending a weekend trying to develop solutions aimed at the food industry, from farm safety and sustainability to product traceability and animal welfare. WHAT GOES ON THERE? Hackathons often begin with a presentation on the event, including the specific theme, if any. Participants then form teams and brainstorm ideas and solutions, and develop prototypes. They often focus on particular platforms, such as mobile apps, or use a specific programming language (e.g. JavaScript or HTML5). At the end, teams present their results. If there’s a contest, a panel of judges will select the winning projects and award the prizes, which

can be quite substantial – a social gaming hackathon at the TechCrunch Disrupt conference in San Francisco saw the winners take away $250,000 in funding. A lot of the ideas or software generated from these events are not quite fit for the real world, though in some cases an idea with potential bursts into life. ARE THERE ANY REAL BENEFITS? Plenty, and not just for the attendees who learn something new by mixing with the best and the brightest in their field – businesses and other organisations can stand to gain also. Though some events are simply for educational purposes, hackathons can be used to generate usable software, to raise awareness or funds for initiatives or charities, to introduce newcomers to programming (and for more experienced hands to strengthen their skill sets), or simply as a contest. They can also serve as rich recruiting

events – industry professionals keeping an eye out for the next top talent. Exhibit at the right hackathon and you could benefit from targeted advertising, the kind that takes months to organise the old-fashioned way. You could also position yourself as an expert in your field and speak at the event. Don’t forget to post about the experience afterwards and make reference to it on social media. Or why not host a hackathon? Many companies are getting involved – PayPal for example hosted numerous hackathons around the globe last November, challenging developers to create solutions that involved the use of PayPal’s application programme interface (API). Gather together some of the brightest minds across a variety of sectors, give them a theme and let them get to work. Who knows, the world might stand to benefit. 43

05/10/2015 12:04

BOOK EXTRACT

“O’REILLY ALWAYS BELIEVED THAT THINGS WOULD

COME RIGHT FOR HIM IF HE WAITED, BECAUSE THEY ALWAYS HAD.”

The title of Matt Cooper’s new book The Maximalist: The Rise and Fall of Tony O’Reilly is taken from a 1999 press interview quote by O’Reilly who vowed that he wanted “more of everything”. This proved to be the undoing of Ireland’s once richest and most powerful businessman. In the following extract Cooper details how, in 2009, the billionaire’s illustrious career began to unravel, in light of the Waterford Wedgewood collapse and as a new challenger for Independent News & Media emerged. n spite of the immensity of the Waterford Wedgwood collapse, O’Reilly did not have time to wallow in self-pity. He was still full-time chief executive of Independent News & Media, and its crisis was deepening. At the end of January he admitted that efforts to sell APN, a newspaper publisher in Australia and New Zealand that Independent News & Media owned, were being abandoned. Instead, other “nonstrategic” assets were to be sold, although this would produce only a fraction of the money that the sale of APN would have raised; belatedly, O’Reilly’s cherished London Independent was officially for sale. Efforts were to be made to sell a new bond to replace one for 200 million that was due for repayment later that year. No final dividend would be paid to shareholders from the 2008 profits, saving Independent News & Media (INM) the 60 million it had been projected to cost. That was a seminal moment. As recently as November 2008, despite the shortage of funds, O’Reilly and 44

044 InBusiness Q3 2015_Book Extract.indd 44

other shareholders had benefited from the payment of an interim dividend; in his case it amounted to more than 10 million. “You invested in INM for the dividend,” says one key executive. “It was viewed as the safest in town, because O’Reilly needed it, so he’d always pay it. Nobody ever thought the money wouldn’t be there to pay it.” The loss of dividend income would be devastating to O’Reilly. In the decade up to 2006 he had pulled an average of 14 million a year in dividends out of Independent News & Media. In 2007 he had taken a record 30 million. He needed that money to pay his bills. O’Reilly always believed that things would come right for him if he waited, because they always had. But he had left it too late this time. “Too often he spoke about how he’d done things 20 years ago, and 30 years ago, and we’d have to say, ‘But that was then and this is now, and things have changed,’” says one of his loyal executives. The end was imminent. The businessman Denis O’Brien was now a major shareholder in the

group. The company’s deteriorating financial position had led to a halt in hostilities with O’Brien some months earlier, despite two years of angry words and public squabbling. O’Reilly’s son Gavin O’Reilly, Independent News & Media’s chief operating officer, felt he was working well with O’Brien and, particularly, his adviser Paul Connolly. Gavin didn’t want to continue simply as a go-between flanked by his two major shareholders. An arrangement was made for Tony O’Reilly and O’Brien to meet for the first time since the latter had become an investor in INM. A YOUNGER, MORE DETERMINED ENEMY The meeting took place in late February 2009, the day of an Ireland v England rugby international at Croke Park that both men were attending. O’Brien refused to go to Castlemartin, O’Reilly’s Co Kildare estate, for talks, and a suggestion that they use the house of a mutual friend, Ray McLoughlin, was nixed when he said that he had decorators in and that it was unavailable. InBUSINESS | Q3 2015

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BOOK EXTRACT

Instead they met at O’Reilly’s Dublin town house, on Fitzwilliam Square. O’Reilly had been involved in many confrontational meetings during his career, and he had usually come out on the winning side. This one threatened to be different, however. A younger, more determined, more unpredictable and seemingly ruthless enemy threatened him – and had the money to carry out that threat. O’Reilly was determined not to cede ground. The meeting did not start well. O’Brien felt that the chair he was offered was lower than O’Reilly’s, and deliberately so. New seats, of equal height, were brought in. O’Reilly had a table set for lunch, full of Waterford and Wedgwood products, but O’Brien was not for eating. Nonetheless, O’Brien says that the meeting was cordial. “Tony kept on asking me why I bought the shares in the first place.” That was hardly the point, given the situation in which the company found itself. “I suppose he felt we were aggressive in our demands, but the business was on the brink of receivership.” No agreement about Independent News & Media was reached as they debated its financial condition and management, other than that they would meet again after the match, this time in the company of Gavin, Paul Connolly and Ray McLoughlin. This was when the most serious blow was delivered. O’Brien indicated that if O’Reilly did not retire he would demand an extraordinary general meeting to remove him. O’Reilly could not be certain of winning such a vote, given the strength of O’Brien’s voting power and the possibility that other shareholders would come to the same conclusions as O’Brien and the lenders about O’Reilly’s responsibility for the perilous state of Independent News & Media’s finances. Resigning now would offer some cover against indignity, but losing a vote publicly would be humiliating. And the campaign before an egm InBUSINESS | Q3 2015

044 InBusiness Q3 2015_Book Extract.indd 45

vote would result in even greater scrutiny of the company’s finances and, probably, an even greater fall in the share price, further eroding what was left of O’Reilly’s assets. It might even have tipped Independent News & Media into examinership or receivership. O’Brien made it clear that he had the resources to withstand such an eventuality and that he considered O’Reilly did not. It was a game of poker, and although both held poor hands, O’Brien’s was the better. O’Reilly was bewildered by what he saw as O’Brien’s aggressiveness. He was willing to concede on certain points but did not want to capitulate. One thing he certainly didn’t want to give up was his seat on the board; if he had to relinquish his role as chief executive, he wanted to remain as chairman. Nor did he want to give O’Brien’s representatives seats on the board. As he saw it, that would be surrender. He suspected that the offer of their involvement as partners on the board was something of a Trojan horse. The meeting broke up without agreement, but O’Reilly now knew, if he hadn’t before, that his place in “his” company was nearing its end. “He had such a grip on the business as CEO, and a weak chairman in Brian Hillery, and he controlled every aspect of the decisionmaking process,” that he had to go, O’Brien says, explaining why he was so determined to remove O’Reilly. “They thought it was News Corporation they were running.” Within two weeks O’Reilly’s sons and the board put him under further pressure to step down, not just as chief executive of Independent News & Media but also from the board entirely. There was speculation that banks had made his departure a condition of refinancing the business, but that wasn’t the case. The pressure had come from within, as those around him realised that further resistance was futile and that they were at risk of losing everything.

“BUT HE

HAD LEFT IT TOO LATE THIS

TIME. “TOO OFTEN HE SPOKE ABOUT

HOW HE’D DONE THINGS 20 YEARS AGO, AND 30 YEARS AGO, AND

WE’D HAVE TO SAY, ‘BUT

THAT WAS THEN AND THIS IS NOW, AND

THINGS HAVE CHANGED.”

THE END WAS IMMINENT”

This is an edited extract from The Maximalist: The Rise and Fall of Tony O’Reilly, published by Gill & Macmillan and in shops now, priced at 24.99.

05/10/2015 12:05

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05/10/2015 14:45

CHAMBERS NEWS

A ROUND UP OF ALL THE NEWS AND EVENTS FROM THE CHAMBER NETWORK NATIONWIDE

CHAMBERS

CATCH UP CHAMBER COMMENT “Much has changed over the years, our membership has grown, we are now a full-time Chamber and we have been through many ups and downs but we hope that we are still representing the business community with the same enthusiasm and member focused Nick Donnelly, Waterford Chamber CEO; Paudie Coffey, Minister of State at the Department of the Environment; US Ambassador to Ireland Kevin F. O’Malley; Michael O’Dwyer, Waterford Chamber President and Dena O’Malley

A WATERFORD WELCOME

FOR US AMBASSADOR WATERFORD CHAMBER PRESIDENT MICHAEL O’DWYER welcomed US Ambassador Kevin F. O’Malley to Waterford Castle in June for his first official visit to the county. Ambassador O’Malley was the guest speaker at the Waterford Chamber President’s Lunch which hosted a capacity crowd. Welcoming the Ambassador, O’Dwyer spoke of the positivity, determination and renewed sense of hope that is evident in the business community at present, along with the positive news of job creation and significant investments which are ongoing in the region.

InBUSINESS | Q3 2015

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approach as our colleagues who founded the Chamber 50 years ago.” Brian McCormack, Letterkenny Chamber President speaking at an event to mark the 50th anniversary of Letterkenny Chamber of Commerce.

05/10/2015 12:06

CHAMBERS NEWS

CHINESE DESCEND

ON KILDARE A

high level delegation from the Municipal Government of Guangzhou in China visited Kildare on July 1st. The government officials met with the President of North Kildare Chamber of Commerce Vivian Cummins and CEO Allan Shine along with representatives from Maynooth University, Kildare County Council, IDA Ireland, Enterprise Ireland and Science Federation Ireland. The meeting examined how: • Kildare can strengthen and extend the existing research relationships between Irish researchers, leading Chinese institutions and key state laboratories through knowledge and people exchange.

CHAMBER

CAPTION

Pictured at the launch of the Waterford Chamber Business Expo, which took place on September 10th in Bolands BMW on the Cork Road, were David Good, Bolands BMW; Teresa Jane O’Mahoney, BMCI Insurance & Investments and Waterford Chamber President Michael O’Dwyer

•W e can develop new China-Ireland partnerships focused on research excellence in our strategic thematic areas, that will prove competitive, sustainable and scalable in international funding programmes.

CHAMBER COMMENT

• We can build greater cultural understanding between Kildare and Guangzhou. • We can utilise the experience of research collaboration with China to help Irish companies compete in the world’s second largest economy and to encourage foreign direct investment into Ireland for national economic benefit.

Chamber President Vivian Cummins, President of Maynooth University Prof Philip Nolan, Wang Dong, Vice Mayor of Guangzhou and Mayor of Kildare Cllr Brendan Weld

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Dick White, CEO, Gorey Chamber; Sabine Rosler, Wells House and Gardens, winner of the AIB North Wexford Business Award for Tourism; Keith Groarke, AIB Gorey

ALL’S WELL FOR

TOURISM AWARD WINNER Wells House and Gardens have been announced as the winner of the 2015 AIB North Wexford Business Award for Tourism. Organised by Gorey Chamber, the awards were held at the Kitchen Restaurant on North Parade in Gorey last June. Speaking at the event, Keith Groarke of AIB said: “Tourism continues to be a highly important part of the local and national economy. This award goes some way to applauding the work of Sabine Rosler and the entire team that has seen Wells House and Gardens being transformed in a short number of years.”

“A future proofed postcode system is something which Limerick Chamber has consistently called for over a number of years and we welcome the precise and efficient nature of the new system.” Dr James Ring, Limerick Chamber CEO, welcomes Ireland’s new postcode system, eircode

InBUSINESS | Q3 2015

05/10/2015 12:06

CHAMBERS NEWS

Patrick Street, Cork

CORK WINS PURPLE FLAG STATUS

ork’s city centre has been officially recognised for its vibrant and diverse nightlife. The city has been awarded a Purple Flag which recognises towns and cities which offer entertaining, diverse, safe and enjoyable nights out. The Purple Flag award requires that a comprehensive set of standards, management processes and good practice procedures are in place in a given town or city. The Purple Flag Academy Awards ceremony will take place on November 3rd in Guildford in the UK. Here all newly awarded cities and towns from Ireland and the UK will receive their awards to take back to their respective areas.

[APPOINTMENT NOTICE] NEW PRESIDENT AT DLR CHAMBER Dún Laoghaire Rathdown Chamber has a new president who has spoken about the need to increase the opportunities the Chamber provides for local businesses to network with each other. Kevin Kelly was elected Chamber president back in June. Kelly, who had been in the role of Vice-President, takes over from Dr Josephine Browne of IADT after a two-year term. Pat Neill of Dundrum Town Centre has been elected as Vice President.

DUNDALK BACKING THE LOCALS Dundalk Chamber is urging people to shop local in the months ahead. A convenient way to do this is to use shop local gift vouchers, which can be spent in over 130 businesses in the town. The temptation for shoppers to travel further afield for perceived savings is always there but Dundalk Chamber believes that these so-called savings are not beneficial for the town. Speaking on the issue, Michael Gaynor, President of Dundalk Chamber said: “We need to support and value our local shops and businesses as much as possible. Dundalk Chamber’s shop local gift voucher can be spent in any shop displaying the sign and with over 130 shops participating there is a wide choice of purchases and services available.” Vouchers can be purchased in a range of local stores as well as at Dundalk Chamber offices or online at www.dundalk.ie/vouchers

Stephen Kenny, Dundalk FC Manager pictured with Michael Gaynor, Dundalk Chamber President

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Health and wellness expert Karl Henry pictured with Helen Downes, Chief Executive, Shannon Chamber

SHANNON GETS HEALTH CONSCIOUS Health and wellness expert, author and TV personality Karl Henry addressed an audience of almost 150 people on the subjects of health, nutrition and exercise at a Shannon Chamber event held in the Transit Lounge at Shannon Airport on September 17th. The event was sponsored by Shannon Airport Duty Free and GECAS. Recommending that everyone should regulary check their waist size, Henry provided attendees with their very own takeaway measuring tape. Shannon Chamber’s health and wellbeing seminar was held as part of Chamber Week, a nationwide initiative of Chambers Ireland, which ran from 14th to 18th September.

05/10/2015 12:06

CHAMBER NEWS PRE-BUDGET SUBMISSION

PRE-BUDGET

SUBMISSION Chambers Ireland believes that Budget 2016 must be used to support development and job creation in strategic areas.

udget 2016 marks a significant change to previous years. In its Spring Statement the Government announced that next year’s Budget will be the first expansionary budget since 2008. How the Budget is implemented will determine our economic future and with this in mind, Chambers Ireland believes that Budget 2016 must be used to support development and job creation in strategic areas. At the same time, it is important to insulate Ireland’s economy from external shocks. In our pre-budget submission this year, we have recommended a number of targeted actions that can be grouped into four overall categories.

SUPPORTING ENTREPRENEURSHIP AND BUSINESS GROWTH We must incentivise a new generation of entrepreneurs to establish businesses and generate indigenous growth and employment. Through a series of targeted tax adjustments that will have a limited impact on the Exchequer, we believe entrepreneurs and small businesses can begin to thrive. Key recommendations: • Ensure equity in the USC treatment of owner-directors and selfemployed • Reform the tax system for ownerdirectors and the self-employed by introducing a similar tax credit to PAYE workers • Introduce social protection for owner-directors and self-employed people • Reduce the marginal tax rate to below 50 per cent • Merge income tax and USC into a single income tax • Align employee remuneration with company performance by incentivising employee share schemes • Allow investors who use the Employment and Investment Incentive to claim full relief up front • Reduce Capital Gains Tax to 20 per cent for non-passive investments • Remove restrictions on the CGT entrepreneurial relief and align it more closely with the UK model

SUPPORTING LOCAL ECONOMIC DEVELOPMENT Pictured at the launch of the submission outside Leinster House were Tony Lambert, Chief Executive, Fingal Dublin Chamber, Ian Talbot, Chief Executive, Chambers Ireland and Madeliene Quirke, Chief Executive, Wexford Chamber

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There has been a pronounced disparity in how some towns and counties in Ireland have

InBUSINESS | Q3 2015

05/10/2015 12:12

CHAMBER NEWS PRE-BUDGET SUBMISSION

We must incentivise a new generation of entrepreneurs to establish businesses and generate indigenous growth and employment. Through a series of targeted tax adjustments that will have a limited impact on the Exchequer, we believe entrepreneurs and small businesses can begin to thrive.

experienced the recovery. Output and employment remain low in many areas, and many of our Chambers outside of large urban centres report that their members are still struggling. There has been a renewed focus nationally on local economic development, and we outline two measures identified by our Chamber Network as best practice that can be implemented nationally to support this process. Key recommendations: • Incentivise local authorities to ring fence a portion of commercial rates for local economic development with matching funding from the Exchequer • Develop State-supported crowdfunding programmes to fund social investments

INVESTING IN PHYSICAL AND SOCIAL INFRASTRUCTURE Ireland needs the right social and physical infrastructure if it is to maintain its international competitiveness. We are competing against the top countries in the OECD for investment and for market share. Therefore letting our infrastructure depreciate is not an option. Equally, if we are to

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Ian Talbot, Chief Executive, Chambers Ireland

position ourselves as a knowledge economy, our human capital must be developed to its fullest. We highlight areas where we believe investment and reform are required urgently to maintain our capital stock. Key recommendations: • Make childcare affordable by introducing direct public subvention and reforming the ECCE scheme • Refocus the National Training Fund to up-skill those currently in employment • Ensure affordability of health insurances by calculating the Risk Equalisation Scheme Levy as a percentage of the value of the plan rather than a flat fee • Temporarily reduce VAT on the construction of residential properties from 13.5 per cent to 9 per cent and suspend development levies for a period of two years in strategic areas • Prioritise investment in infrastructure to ensure we can support our future economic growth

ENHANCING EFFICIENCY IN OUR PUBLIC SERVICE Our public sector has made terrific progress in implementing necessary reforms and delivering more services with fewer resources. The public sector should be commended for this vital contribution to Ireland’s recovery. We believe that this process should continue, and that appropriate outsourcing to the private sector can support the public sector in streamlining its service delivery. Continue the reform of the public sector and examine the potential benefits of appropriate outsourcing to the private sector. To read our full submission outlining our vision for how to reinforce Ireland’s growth, visit www.chambers.ie.

05/10/2015 12:12

CHAMBER NEWS INFRASTRUCTURE AND CAPITAL INVESTMENT

Infrastructure & Capital Investment: BUILDING ON RECOVERY Chambers Ireland has strongly welcomed the projects included in the Government’s Infrastructure and Capital Investment Plan.

ollowing Chambers Ireland’s call for prioritisation of investment in strategic infrastructure in our Pre-Budget Submission this year, Government on September 29th announced its much anticipated Infrastructure and Capital Investment Plan. Dubbed ‘Building on Recovery’, the plan sets out Government’s a27 billion capital investment strategy for the next six years. The projects included in the plan are strongly welcomed by Chambers Ireland. Spanning areas such as health, flood defences, transport, education and broadband, the plan marks a return to normal levels of public investment which will lay the foundations for Ireland’s future growth. Chambers Ireland has here listed the key capital projects which we consider to have a great

052 InBusiness Q3 2015_CS_Capital.indd 52

cumulative and long-term impact on economic growth throughout the country.

ENERGY EirGrid recently published plans for developing Grid West and the NorthSouth Interconnector. Its investment plan to 2025 is also currently under review. Secure access to an affordable and reliable electricity supply is central to businesses’ ability to generate growth and compete internationally. Our electricity grid is a key piece of infrastructure for indigenous businesses as well as for foreign direct investment. Sufficient energy capacity is a pre-requisite for local economies to be able to both compete for investment and to attract new companies into the local area. For Ireland in particular, energy intensive industries have a strong presence in the economy providing many urban and regional jobs. These companies must be facilitated with sufficient capacity to meet their energy needs in order to retain their base in Ireland. The grid currently operates at nearfull capacity in a number of regions and this acts as a barrier to growth. Investment to upgrade the grid is therefore a necessity.

TRANSPORT In a 2015 report on transport trends, the Department of Transport, Tourism and Sport acknowledged that a minimum a300 million budget shortfall currently exists to maintain the current land transport network as is. Failing to invest in our road network slows our growth prospects and causes environmental damage. In January this year a report by An Taisce concluded that traffic congestion now has returned to 2008 levels. In addition to slowing commuting times, traffic congestion damages economic productivity and causes more air pollution due to higher levels of CO2 emissions. CSO projections estimate that our population by 2021 will have grown by 200,000 people at minimum. All of these additional people will require effective transport methods to access employment. In order to accommodate this population growth and realise Government’s ambition of returning to full employment we need to first upgrade our transport network.

WATER Irish Water recently concluded a consultation on its 25-year strategic plan. The capacity of our water services network to meet daily water requirements of both businesses and domestic households is of immense importance to our ability to create sustainable economic growth. For Ireland to continually attract FDI and facilitate the establishment of new industries, the capacity of our water network must be improved and

InBUSINESS | Q3 2015

05/10/2015 12:13

CHAMBER NEWS INFRASTRUCTURE AND CAPITAL INVESTMENT

this can only be achieved through large-scale capital investments. Low headroom capacities bear a high risk of water shortages, which can result in high disruption costs for businesses and domestic water users. Recent water outages in Dublin in the period 2010-2014 are estimated to have cost the Irish economy in excess of a78 million per day. Added to this is the unquantifiable cost of reputational damage to Ireland and the mideast region, which risks dissuading potential investors from establishing enterprises in the region.

HIGH-SPEED BROADBAND Access to high-speed broadband is no longer a luxury but an economic necessity. Next generation broadband provision is a pre-condition for Irish businesses to remain competitive and to increasing their share of e-commerce activities. Accelerated investment is required across the country to reduce the digital divide that currently exists between urban and rural areas and enable businesses to compete on a level playing field.

OUR VIEWS As our recovery is taking hold, Chambers Ireland welcomes that Government has increased annual investment to 3.5 per cent of GNP. Investing in infrastructure is an essential element in a modern economy and society â&#x20AC;&#x201C; particularly in ours which is experiencing both population and economic growth. The forecasts for the coming years suggest that our recent

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strong economic performance will continue and that unemployment levels will further reduce. As a result, Government should expect to have further funds available to invest. Chambers Ireland therefore recommends Government to use the mid-term review to explore whether the list of current projects can be expanded, and to consider if we are investing enough in the right areas. By investing smartly and strategically, Ireland will be put on the right track to attracting further inward investment and Irish businesses will be supported to grow their output. The return on investment will almost certainly be higher than the cost therefore it is in the national interest of all citizens to ensure that Government allocates the appropriate resources to invest in our future.

05/10/2015 12:13

CHAMBER NEWS MEDIATION

MEDIATION MAKES

BUSINESS SENSE Chambers Ireland has been consulting with stakeholders in the legal and mediation community to discuss how businesses could be encouraged to consider mediation as their first port of call when resolving disputes.

he benefits of mediation are that it delivers confidentiality and costs savings, while offering parties an opportunity to reduce the risk of an adverse decision by allowing a degree of control over the process and its outcome. A significant benefit offered by mediation in commercial disputes is the cost and time effective access to justice. It is precisely for this reason that mediation can be so beneficial to businesses, particularly SMEs who often don’t have the same resources as larger corporations.

MEDIATION SCHEME However, awareness of the benefits of mediation is not as widespread amongst the Irish business community as it could be. In response to this, Chambers Ireland consulted with our stakeholders in the legal and mediation community to discuss how businesses could be encouraged to consider mediation as their first port of call when resolving disputes.

In mediation, both parties have control over the decision to settle the dispute and the terms of any settlement agreement. Mediation as a form of dispute resolution has many benefits for the business community.

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From these discussions, the Business and Commercial Mediation Pilot Scheme was launched on September 1st 2015 by a cross section of bodies (Chambers Ireland, the Chartered Institute of Arbitrators, the Law Society, the Bar Council of Ireland and the Mediator’s Insatiate of Ireland) with the objective of promoting the use of mediation as a cost and resource efficient way for businesses to resolve commercial disputes.

WHAT IS MEDIATION? Mediation is a flexible settlement technique, conducted privately and confidentially, in which a mediator acts as a neutral facilitator to help the parties try to arrive at a negotiated settlement of their dispute. In mediation, both parties have control over the decision to settle the dispute and the terms of any settlement agreement. Mediation as a form of dispute resolution has many benefits for the business community. Below are some of the advantages for business owners should they engage in mediation.

PRESERVING BUSINESS RELATIONSHIPS Going to court can often be a polarising experience, whereas the benefit of mediation is that it can preserve business relationships.

Whether the dispute is with a valuable client or an important supplier, mediation focuses on resolving the matter in a way that keeps relationships intact. Mediators help shape the discussion to promote respect and common goals, and generate creative ideas to resolve the dispute. When not confined to the parameters of a courtroom, parties are free to come up with their own unique solutions.

ENCOURAGING OPEN DIALOGUE Mediation also encourages the open flow of information in a way litigation cannot. The goal is resolution, rather than winning at trial. Disclosure is important if parties are to fully understand each other – and once parties have had a chance to fully discuss issues, resolution becomes a real possibility.

TIME AND COST EFFECTIVE Perhaps most significant for small businesses’ bottom lines – mediation is timely, efficient and can be a fraction of the cost of litigation, which means less disruption to dayto-day business operations. Provided both parties are willing to engage in mediation, there are many different types of civil disputes that can be resolved through mediation, including, for example:

InBUSINESS | Q3 2015

05/10/2015 12:13

CHAMBER NEWS MEDIATION

Whether the dispute is with a valuable client or an important supplier, mediation focuses on resolving the matter in a way that keeps relationships intact. • Contractual disputes • Partnership disputes • Debt resolution • Defamation • Shareholder disputes • Boardroom disputes

HOW THE PILOT SCHEME WORKS Should your business be interested in having a dispute referred to the Business and Commercial Mediation Pilot Scheme, the first step is to contact Chambers Ireland to have your case referred to the Pilot Scheme Review Panel.

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The Review Panel will then decide whether the case is suitable for mediation, and if so, who is best placed to mediate the case. This will happen within no more than five working days of the case being referred. Following this, the case will then be referred to a suitable mediator. The designated mediator will arrange for an initial consultation with the requesting participant to be held free of charge, at the end of which an estimate of the likely fee will be provided in writing. The designated mediator will then be responsible for the sourcing of a suitable venue and agreeing a price with the requesting participant. It is hoped that that the Pilot Scheme will encourage Irish businesses to embrace mediation as the first port of call when resolving disputes, which we hope will

ultimately make Irish businesses more efficient in the long run. Should you be interested in referring a dispute to mediation, please visit the Chambers Ireland website where you can download a referral form. For more information, please contact mediation@chambers.ie. This publication has been produced with the financial support of the Civil Justice Programme of the European Union. The contents of this publication are the sole responsibility of the above named partners and can in no way be taken to reflect the views of the European Commission.

05/10/2015 12:13

CHAMBER NEWS UNDOCUMENTED MIGRANTS

A Problem-Solving Solution to an Unsustainable Situation Proposals for a scheme that would see 20,000 undocumented migrants become regularised citizens aims to free these people from their state of disadvantage and have widespread benefits for the community, writes Aidan Keyes, Public Affairs Executive, Chambers Ireland.

here are estimated to be between 20,000 to 26,000 undocumented migrants currently living in Ireland. Many of these migrants have been living, working and paying taxes here for a substantial amount of time, yet because of their legal status they do not have access to basic services and social benefits such as healthcare. These are hard working people that are raising families, paying taxes and contributing to the overall community and economy. The undocumented migrants seeking regularisation want to stay here, and want to be able to formally join the community that they are contributing to. The plight of youth migrants is even more challenging. These are very often the children of undocumented migrants who themselves have no legal standing in the country. These young people still have their entire lives ahead of them yet have an unfair

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ceiling on their level of development and achievement. A regularisation scheme will enable them to pursue options like seeking higher education or travelling rather than being stuck in a cycle of disadvantage. The MRCI, or Migrant Rights Centre Ireland, has drawn up a proposal for a scheme that would allow 20,000 undocumented migrants to become regularised citizens. They call it a “problemsolving solution to an unsustainable situation.” This proposal would allow migrants who had been in Ireland for the past four years and do not have a criminal record to become regularised after a short probationary period. In addition to the large social and humanitarian issues that a proposal like this will address for the undocumented migrants, it will also prove beneficial for the wider community. First of all, the regularisation scheme would generate millions of euro for the State between application fees, direct taxation and ongoing immigration registration fees. Aside from the revenue that would be generated, it would also have a positive impact on the business community. Currently there are some businesses that exploit these undocumented workers by overworking and underpaying them. This provides an unfair competitive advantage for the tiny minority of exploitative business owners while harming the vast majority of businesses who comply with their

employee obligations. Through a regularisation scheme migrants will be able to avail of full worker protection rights and compliant businesses will no longer be at a disadvantage. Helen Lowry, Community Work Coordinator at the MRCI addresses these issues: “There is a strong business case for the introduction of a regularisation. Currently there is opportunity cost of lost tax revenues. Tax revenues accruing from regularising workers are estimated to be of significant worth to the Irish Exchequer each year, depending on immigrant earnings. The current system unfairly rewards those employers who systematically hire and underpay undocumented workers. The resulting ‘race to the bottom’ further expands the underground economy, reduces tax revenues and creates an uneven playing field for small to medium size businesses. The regularisation scheme being proposed by the MRCI is an income generating one; it has the potential to generate a185 million over five years offsetting any resource implications and contributing significantly to the tax purse.” There is an obvious need for this issue to be addressed, and the MRCI has done just that. If their proposed scheme is accepted, it will free the undocumented from current state of disadvantage and it will have widespread benefits for the community as a whole.

InBUSINESS | Q3 2015

05/10/2015 12:14

CHAMBER NEWS ANTI-CORRUPTION POLICY

Why Good Governance

is Good for Business Companies who fail to take steps to introduce responsible business and anti-corruption polices often find themselves exposed to risks which could damage their reputation, writes Emma Kerins, Project Officer, Chambers Ireland.

hambers Ireland has long supported and encouraged ethical behaviour in the business community. Our annual CSR awards, now in their twelfth year, celebrate the efforts of the business community in Ireland to enhance the environment in which they operate. It is our belief that responsible behaviour and ‘doing the right thing’ is good for business in the long run. There are a growing number of companies around the world who are prioritising the integration of corporate social responsibility and rigorous corruption prevention into their overall business plan. These companies are demonstrating their leadership in this field by implementing effective anticorruption programmes within their organisations. Common features of such programmes include:

Companies who fail to take steps to introduce responsible business and anti-corruption policies often find themselves exposed to risks which could not only damage their reputation and brand, but also leave them open to potential fines and in some cases criminal prosecution.

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• Policies on bribery issues • Policies on conflicts of interest • Guides on political and charitable contributions The implementation of these policies has been shown to reduce the cost of doing business, improve public trust and attract investment. Companies who fail to take steps to introduce responsible business and anti-corruption policies often find themselves exposed to risks which could not only damage their reputation and brand, but also leave them open to potential fines and in some cases criminal prosecution. That being said, SMEs often feel that the requirement to have anticorruption policies in place is the business of large companies. Nothing could be further from the truth. While it is understandable that SMEs may feel overwhelmed by complex legislation and compliance procedures, having an effective anti-corruption policy does not need to be on a grand scale, supported by significant resources. In fact, there are several simple steps small companies can take to better protect themselves from risk. One such step is due diligence. This is a process of examining the background of a potential business partner in an effort to assess and mitigate risks of corruption. The aim is to ensure that corruption risks are identified by the company in advance. By conducting due diligence, a company can gain an understanding of whether there are any potential corruption risks, take steps to mitigate any risks identified and then make an informed decision about whether to enter into the contract or not.

In addition, due diligence should not be conducted in isolation but as part of a broader ethics and anti-corruption programme. The following are examples of typical ethics and compliance programmes that SMEs can easily integrate into their operations: • A code of conduct, including proportionate anti-corruption policies • Training of staff • A whistleblower programme In order to assist SMEs, Chambers Ireland has made a number of tools, developed by our partners in the International Chamber of Commerce, freely available on our website for companies who are interested in developing anticorruption policies and developing responsible business policies. These tools include: • An anti-corruption clause for contracts • A guide to responsible sourcing • Guidelines on gifts and hospitality • A copy of International Chamber of Commerce rules on combating corruption These simple templates and tools allow a company to develop internal processes to ethically meet the challenges of international commerce at little or no cost.

For more information on these tools and on Chambers Ireland’s CSR policies, please visit our website or contact us directly.

05/10/2015 12:15

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05/10/2015 14:46

PARTNER PROFILE WATERFORD CRYSTAL

Waterford Crystal AT A GLANCE

Having survived over two centuries – through good times and bad – there is huge pride in the Waterford Crystal brand at home and abroad.

ince the reopening of Waterford Crystal in 2009 and the subsequent purchase by Fiskars, Waterford Crystal has re-established near its roots, on The Mall in Waterford City. Waterford Crystal is now thriving again and it’s a good news story for Ireland. “A company that’s been around since 1783 is going to have difficult times and when we reorganised after 2009 and set up in the city, it was a proud day for all connected with Waterford Crystal,” explains David McCoy, Sales & Marketing Director of House of Waterford Crystal. “Those involved are so proud of the brand which is a product of the work of so many generations of local people over so many years. “We have a manufacturing plant and brand experience in Waterford, where we produce a lot of crystal

Waterford Crystal Retail Store

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and give visitors an opportunity to visit the factory and see how we make our beautiful products. A lot of work goes into producing a oneoff piece including the design and manufacturing. This is something that we have expertise in and it’s the reason why people come to us to design and produce their trophies, unique pieces and awards. We have a 12,000 sq ft showroom which represents everything we make in crystal, including a whole section on golf and sport, which is a major part of our business.” The list of famous awards and trophies produced by Waterford Crystal for the sports industry alone is simply staggering. Waterford Crystal also designs the pieces for the prestigious People’s Choice Awards, as well as the spectacular Times Square Ball – a crystal ball

which forms a prominent part of a New Year’s Eve celebration in Times Square in New York, colloquially known as the ball drop. There is huge pride in Waterford Crystal throughout Ireland and it’s little wonder that it is one of the most popular items used to mark such special occasions. Our corporate and gift awards programme can cater for rewarding your employees or clients. We can customise a piece from our core range that can allow you create your own unique message or logo on the item. Should you require your items gift wrapped and individual cards written, we can include as part of your order. Our worldwide shipping service allows you the flexibility to deliver 24/48 hours to Ireland, UK or USA. Our dedicated sales manager Tom Walsh can be contacted at tom.walsh@wwrd.com or +353 (0)51 317043. The factory in Waterford City is home to a brand new continuous melt tank furnace that has been tailor-made for Waterford Crystal’s specifications and melts two tonnes of molten crystal every day. It uses leading-edge technology to deliver molten crystal of the highest quality for our skilled master blowers to hand-shape and mouth-blow Waterford Crystal’s range of premium products. Thousands of visitors travel from around the world, to see the famous crystal being manufactured at the factory in Waterford. Factory tours are available all year round, visit waterfordvisitorcentre.com or contact +353 (0)51 317000.

05/10/2015 12:15

PARTNER PROFILE GLOHEALTH

IN GOOD HEALTH Why do so many of Ireland’s leading companies prefer GloHealth as their health insurance provider?

f you or your organisation are thinking of switching your health insurance, you’ll be in good company when you switch to GloHealth. Tens of thousands of employees at many of the leading companies in Ireland such as Facebook, AirBnB, TripAdvisor, Groupon, Boston Scientific and Xilinx are among the 130,000 people who are now customers of GloHealth, Ireland’s fastest growing health insurer over the last three years. The reason they have all moved is simple, GloHealth provides its corporate customers with comprehensive health cover that provides faster access to private treatment when needed. In addition, employees can take advantage of a host of innovative benefits designed to support and encourage them to live and maintain a healthy and active lifestyle. GloHealth’s approach has won huge favour with its business customers who now get greater value from their health insurance spend as well as with employees of these companies who can tailor their cover to meet their own particular needs and lifestyle. But don’t take our word for it – here’s what the team at AirBnB have to say about GloHealth: “Our employees really like GloHealth’s innovative

tailored benefits. These benefits have encouraged our employees to have a healthier lifestyle.” It is easy to see why GloHealth is recognised as being the innovator in a market that had seen little change in years. With their unique ‘Scan & Send’ claiming service, employees can claim back their daily medical expenses as they go by simply submitting their receipts using their smartphone. Other really innovative features available with GloHealth include the ability to select other valuable benefits to include in your cover, such as free annual worldwide multi-trip travel insurance. Core to the GloHealth offering is a strong focus on improving your health and wellbeing through their tailored wellness programmes, which are designed in conjunction with each client’s HR team. This ensures that they are relevant and aligned with the health and wellbeing objective of each company. The client specific wellness programmes can include a focus on: • Physical wellbeing which can include running and fitness seminars, BMI testing, metabolic testing, yoga and pilates classes along with a host of nutritional related topics.

Our employees really like GloHealth’s innovative tailored benefits. These benefits have encouraged our employees to have a healthier lifestyle. It is easy to see why GloHealth is recognised as being the innovator in a market that had seen little change in years.”

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In addition to a variety of initiatives around wellness, the team listened to us and tailored their support to meet the demands of our dynamic workforce. GloHealth’s support and guidance has enabled us to enhance our wellbeing offering on site to all our employees.”

• Emotional wellbeing modules which can include a focus on positive mental health, stress management, mindfulness, positive parenting along with a number of financial advice topics. • Preventative wellbeing modules which can include cover for flu vaccines, health screening, cardiac screening, cancer and heart health awareness. The staff in Boston Scientific in Clonmel have been particularly impressed with the GloHealth Wellness Programme, saying: “In addition to a variety of initiatives around wellness, the team listened to us and tailored their support to meet the demands of our dynamic workforce. GloHealth’s support and guidance has enabled us to enhance our wellbeing offering on site to all our employees.” Jim Dowdall, CEO of GloHealth, says the company is now the insurer of choice for new companies setting up in Ireland and for established

InBUSINESS | Q3 2015

05/10/2015 12:21

PARTNER PROFILE GLOHEALTH

SOME OF THE MANY LEADING COMPANIES IN IRELAND THAT ARE CUSTOMERS OF GLOHEALTH

Jim Dowdall, GloHealth CEO

Our focus is on providing our customers with tailored and innovative solutions that also encourage and inspire their employees to stay healthy and happy at work.”

WHAT THE FACEBOOK TEAM ARE SAYING ABOUT GLOHEALTH “The ability for employees to claim as they go with ‘Scan & Send’ and tailor their health insurance via personalised packages was a winning proposition for us.”

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businesses of all sizes across all sectors. “At GloHealth, we don’t believe in ‘one size fits all’ health cover,” he explains. “Our focus is on providing our customers with tailored and innovative solutions that also encourage and inspire their employees to stay healthy and happy at work. The companies that have switched to GloHealth are extremely focused on innovation and customer value and they recognise that GloHealth is the best fit for them. Simply put, GloHealth really appeals to companies who want to get greater value from their health insurance spend.” For each of the past two years, GloHealth has been selected as Country Champion in the European Business Awards as well as being recognised as the Best Private Health Insurer in Ireland. GloHealth continues

to show how an Irish company, with the backing of their strategic partner Irish Life, can be very successful as a result of a determined focus on delivering the best value to their clients. With new corporate customers joining GloHealth every week, the company is very confident that its market leading growth will continue as more businesses look to avail of health insurance cover and services that are now widely recognised as being the benchmark for value and innovation in health insurance in Ireland. For more information on how GloHealth can provide you with the best value health insurance visit GloHealth.ie or call 1890 720 720. You can also find them on Facebook, LinkedIn or follow them on Twitter @GloHealth

05/10/2015 12:21

PARTNER PROFILE EMBASSY OF BRAZIL

SMART POLICIES MAKE SMART CITIES Smart biofuels alone will not solve the problem of climate change. But they can help cities pave the way towards a sustainable transport system for its citizens.

ão Paulo, Dublin, New York, Berlin, Beijing, Mexico City, Mumbai. These cities are thousands of kilometers away from one another and yet they share one of the most pressing responsibilities of our time. As cities, they are the major source of greenhouse gas (GHG) emissions worldwide. According to the United Nations Environment Programme (UNEP), cities produce around 75 per cent of global CO2 emissions, with transport and building being the largest contributors1. This puts cities at the very heart of the climate change debate, both as the source of the problem and of the solution. With this in mind, the European Commission launched an initiative on smart cities, which are defined as cities that combine diverse technologies to reduce their environmental impact and offer citizens better lives. The development of a sustainable urban mobility and transport system is one of the pillars of the smart cities initiative. To build up such a system, cities will need

Through an integrated approach, one that includes human beings as part of the environmental system – instead of considering them as two separated entities – smart biofuels can help cities building a sustainable transport complex while supporting the lives of farmers.

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to implement a range of different measures, like promoting the use of public transportation, co-mobility and cycling. However, one cannot forget that, by 2030, it is estimated that around 90 per cent of vehicles in the EU will still be running on liquid fuels2. For this reason, encouraging the use of cleaner fuels will be crucial for the decarbonisation of urban transport systems across the EU. This is where smart biofuels can help.

A SUSTAINABLE AND AFFORDABLE ENERGY SOURCE Smart biofuels are those biofuels that are produced in a responsible and sustainable way, through an integrated perspective of human beings and nature. Despite all the criticisms directed at biofuels in previous years, some biofuels not only significantly reduce GHG emissions, but also contribute to improving the lives of people in rural communities. José Graziano da Silva, Director General of the Food and Agriculture Organization (FAO) recently stated that “given the right conditions, biofuels can be an effective means to increase food security by providing poor farmers with a sustainable and affordable energy source”.3 Through an integrated approach, one that includes human beings as part of the environmental system – instead of considering them as two separated entities – smart biofuels can help cities building a sustainable transport complex while supporting the lives of farmers.

THE BRAZILIAN EXPERIENCE WITH ETHANOL Take for example Brazilian sugarcane ethanol. Sugarcane is a semiperennial plant that, transformed into ethanol, reduces on average 90 per cent GHG emissions compared to fossil fuels. Most of the sugarcane is grown in degraded pastureland, which not only avoids competition with food but also results in increased carbon sequestration in the soil. Furthermore, bioelectricity produced from sugarcane bagasse, the fibre resulting from the cane processing, supplies enough clean energy to run the mills and power millions of homes. In 2014, 11 million Brazilian homes benefited from sugarcane bioelectricity, reducing CO2 emissions by 24 per cent. Overall, thanks to sugarcane ethanol, Brazil avoided emitting more than 300 million tonnes of CO2 since 2003. To achieve the same result without sugarcane ethanol, we would need to plant 2.1 billion native trees and maintain them for 20 years. Another important benefit of sugarcane ethanol is the improvement of air quality, reducing the rate of hospitalisation and mortality caused by air pollution. On the social front, Brazilian sugarcane ethanol production provides six times more jobs than the petroleum sector and spreads income benefits across numerous municipalities, as recognised by the Intergovernmental Panel on Climate Change.4 With smart biofuels, cities can achieve much deeper cuts on GHG

InBUSINESS | Q3 2015

05/10/2015 12:29

PARTNER PROFILE EMBASSY OF BRAZIL

emissions. Indeed, combustion engines will still make the majority of the urban fleet in 2030. Even with an increase in the number of electric cars, around 90 per cent of vehicles in the EU will run on liquid fuels. Since this technology barrier cannot be overcome in the short and medium term, cities will need to promote the use of cleaner liquid fuels, in order to build a truly sustainable urban transport system. Car efficiency will certainly help on this task, but it is not enough. Public transport vehicles can be even greener if they run on sugarcane ethanol instead of petrol. Family cars can also reduce their carbon footprint with sugarcane ethanol.

SMART POLICIES It is all about finding the right mix. Smart biofuels, alone, will not solve

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the problem of climate change. But, combined with improved public transport and urban mobility, electric vehicles, car efficiency, among other measures, smart biofuels can help cities pave the way towards a sustainable transport system for its citizens. Cities face a simple choice. They can either keep relying on fossil fuels and dumping tonnes of air pollutants into the atmosphere or they can adopt smart polices to ensure that smart biofuels – the ones that deliver real environmental and social benefits – are part of the energy mix. This article was produced by UNICA, the Brazilian Sugarcane Industry Association. For more information on the Brazilian ethanol sector, visit www.sugarcane.org or follow them on Twitter @SugarcaneOrg.

[1] UNEP, www.unep.org/resourceefficiency/ Policy/ResourceEfficientCities/FocusAreas/ CitiesandClimateChange/tabid/101665/Default.aspx [2] Cf. E4Tech, GHG emissions from road transport: where the EU will stand in 2030?, 2014 [3] José Graziano da Silva, Food in the Age of Biofuels, Project Syndicate. Available at www.projectsyndicate.org/commentary/biofuels-food-securityclimate-change-by-jose-graziano-da-silva-2015-06 [4] IPCC, 2014: Climate Change 2014: Mitigation of Climate Change, Contribution of Working Group III to the Fifth Assessment Report of the Intergovernmental Panel on Climate Change Working Group

05/10/2015 12:29

PARTNER PROFILE AN POST

THE COMPANY

CHAMPIONING CONVENIENCE The PostPoint brand underwent a substantial overhaul last year and now significant investment in technology is helping enhance its offering. InBUSINESS caught up with Pearl Clarke, Managing Director of PostPoint, to discover more about the service. Q: Can you give us a short overview of your career to date?

A: I joined PostPoint in 2005 as the Head of Finance and New Business Development and I took on the role as PostPoint Managing Director in 2011. Before joining PostPoint I held roles as Finance Manager with An Post and also worked as a management accountant with a newspaper group in London.

have seen firsthand the effort, commitment and determination each of these retailers put into making their businesses a success. I think it is vital for Irish people to support Irish businesses. I am very proud that PostPoint, as a 100 per cent Irish-owned company, is doing its bit by providing Irish retailers with an extensive product offering while also offering very competitive margins.

Q: So tell us about

Tesco, Gala, Mace, Londis, Costcutter, Daybreak, Topaz and Applegreen. PostPoint was the first company in Ireland to perform an electronic top up. Shortly after, PostPoint also became the first electronic services provider to develop BillPay in retail stores. We are part of the An Post Group, were established in 2000 and have been helping local retailers and communities do more in store ever since.

Q: What is the best part

PostPoint.

about your job?

A: PostPoint supplies

Q: What makes PostPoint

A: I love the fact that

electronic services to over 2,000 retailers nationwide, and works with all major retail brands including Spar, Centra, SuperValu,

an attractive offering for retailers?

PostPoint works hand in hand with Irish retailers in almost every village and every town in Ireland. I

Pearl Clarke, Managing Director, PostPoint

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A: Retail is an extremely competitive market and the smallest advantage can make the difference between a business surviving or folding. Retailers who join PostPoint benefit from being able to offer a range of exclusive An Post products, including One4all Gift Cards, stamps, postal products and TV licence renewal. These are very popular products which are well established and proven in the Irish marketplace, and give PostPoint retailers a key competitive advantage

when trying to attract customers into their stores. Retailers also know they can count on us to deliver innovation both in terms of technology and also in terms of new product offerings which will drive footfall into their stores. PostPoint is 100 per cent committed to the Irish market and we offer unparalleled retailer support. For example, our stores enjoy the support of a dedicated customer services team as well as an awardwinning sales support team and nationwide team of engineers. PostPoint retailers can order consumables, such as stamps and One4all, conveniently and quickly through the PostPoint helpdesk and all orders are delivered free of charge straight to the retailers door. PostPoint retailers process over 18 million transactions every year, including essential footfall driving services such as mobile phone top up, bill payment, waste management, gift cards, tolling, parking and international calling cards. For customers, our stores offer products and services which are useful, practical and simple. And, because PostPoint is part of An Post, customers can trust that all payments will be processed safely, securely and efficiently.

InBUSINESS | Q3 2015

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PARTNER PROFILE AN POST

Q: How does PostPoint cater for modern shopping trends and lifestyles?

A: PostPoint stores allow customers to do more at times and locations which are convenient to their schedule. The great thing about paying at a PostPoint is that our sites are open and available when the customer needs us, with most stores offering services at evenings and weekends, and some even open 24 hours per day. The services offered by our stores are ideally suited to today’s busy consumer, who is time sensitive and looking for a convenient solution on the go. Q: You recently rebranded PostPoint, can you tell us what was behind the move?

A: The PostPoint brand underwent a substantial overhaul in 2014. The most obvious changes included a new logo, a new tagline and a change in colour scheme. We also made a conscious decision to include the An Post logo on all our branding. Previously, we felt customers may be unaware of the link between PostPoint and An Post, so we wanted to create a brand that cemented the link in customers’ minds. In doing so, we have created a much stronger brand for PostPoint and for our retailers in store. An Post is one of the most trusted brands in Ireland and holds a unique position in Irish life as a dependable intermediary. For retail stores and for

InBUSINESS | Q3 2015

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customers, dependability and financial security are paramount when deciding on a preferred supplier, especially in a field such as electronic services.

Q: What are the major investments PostPoint has made in technology to improve services?

A: Over the last year, PostPoint has made a major investment in our point of sale technology replacing our previous dial up terminal, the Ingenico 5100, with a new modern broadband terminal, the Ingenico iCT250. The iCT250 terminal is the leading market offering from Ingenico, and the fourth generation of terminals PostPoint has employed. This upgrade from dial up to broadband has been an essential step for PostPoint and our retailers. The iCT250 is one of the smallest and most reliable desktop models available on the Irish market. It offers much greater transaction speeds, which is essential for our stores. Broadband capability also allows PostPoint to develop and introduce a range of new online products and services. Q: Could you tell us about PostPoint’s ambitions to broaden the range of services it offers to Irish retailers and consumers?

A: One of the biggest challenges facing companies operating in the FMCG sector is being able to adapt quickly enough to changing customer needs. In order

PostPoint supplies electronic services to over 2,000 retailers nationwide

for companies to stay relevant it is essential that they constantly innovate and develop new product offerings. For PostPoint this means always examining what it is that our retailers need in terms of products. The introduction of our new broadband terminal has already allowed us to introduce a number of new online products, and we have more in development. We are constantly growing the services available through our stores. Over the last year, PostPoint has boosted its bill payment facility to over 150 billers, one of the largest in the country, allowing customers to pay the majority of national and regional bills through their local PostPoint shop. Other recent additions include Irish Water, the local property tax, Airtricity PrePay, Energia PrePay and MyParcel Pickup.

Q: Are there any other areas that PostPoint plans to move into in the future?

A: With the rollout of our new broadband terminal almost complete, I see a huge amount of opportunity for PostPoint in the coming years, particularly in the SME field. We have already made moves into this market, having recently launched a very competitive merchant services offering for small and medium businesses. We are now looking at developing a number of other products and services for the SME sector. One such product, which we plan to launch in Q4, operates as an online communication platform. The system helps stores and small businesses communicate more effectively with their customers, through a range of communication channels such as SMS, an app, email, and direct mail.

05/10/2015 12:30

FOREIGN DIRECT INVESTMENT IDA IRELAND

SUPPORT

TO SCALE I In recent years, Ireland has been targeting a new generation of early stage fast-growth companies that will further enhance the country’s standing as a great place to do business. InBUSINESS spoke with Barry O’Dowd, Senior Vice President of Emerging Business at the IDA, the man tasked with bringing the next Google here.

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t seems somewhat strange to think of Google and Facebook as part of an older generation of international companies present in Ireland but this is an indication of how far we’ve come in recent years when it comes to foreign direct investment. Back in 2010, at a time when Ireland could already boast the presence of tech giants such as Apple and eBay, the IDA – the country’s inward promotion agency – changed tack. As part of the Government’s Horizon 2020 Strategy, a decision was made to place a much greater emphasis on attracting early stage fast-growth companies. A new dedicated division within the IDA was established and Barry O’Dowd was tasked with heading up operations. He describes the type of companies they were targeting. “They are beyond the start-up stage but are what we call ‘scaling’. They’ve proven themelves commercially. They’ve gone through the learning curve and have reached a commercial stage. They’ve already had significant rounds of finance and they’re well on track to grow fast on the back of that.” It’s worth reminding ourselves that when Google first arrived here it was only a 10-man operation. Today the company employs around

Opening the

new viagogo 5,000 people in Ireland, operations plant it has begun construction in Limerick were on a new data centre in Ciara Palache, West Dublin and is also Barry O’Dowd, helping the next generation Ministers Richard Bruton and Jan of entrepreneurs in the O’Sullivan, Oliver country through its Google Wheeler, Edward for Entrepreneurs Tech Hub Parkinson and Network. So it’s the next Geraldine Black Google that O’Dowd has set his sights on and the new strategy seems to be paying off. “The change of tack has been very successful,” he says. “We’ve seen it in terms of getting a plethora of who’s who of companies into the country, ones that are significant in terms of their pace of growth at an early stage. Some of these are companies that are now in the country for the last two or three years or even more recent than that but it certainly reads well in terms of a calling card.” Another element of the IDA’s strategy is to attract scaling companies before they go to the public markets with an IPO. In effect, Ireland helps nurture them at an early stage and once listed on the public markets, these young firms are given access to investors and capital that allows them to flourish as a public limited company

InBUSINESS | Q3 2015

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FOREIGN DIRECT INVESTMENT IDA IRELAND

and really scale their operations. So scaling is very much the thought process here, according to O’Dowd, and there have been some real success stories of companies that have had IPOs since their arrival such as Zendesk, MongoDB, New Relic, Hubspot and Marketo to name a few. Then there is another category of companies that have grown on the back of major acquisitions. Indeed.com is a case in point. They came from Austin, Texas but are now owned by Japanese HR firm Recruit Co. Indeed.com continues to grow successfully with over 200 people now employed in Dublin. Riot Games is another. Also based in Dublin, the company is now owned by Tencent in China. These acquisitions catapult firms into a whole new phase of development. There are also companies that have had successful financing rounds since coming to Ireland such as Squarespace, Adroll and Nitro. These firms are very attractive to the market and the financing is being used strategically to scale operations and bring them to the next level.

MOVING FAST So what continues to bring international companies here? There has to be more to it than Ireland’s competitive corporate tax rates. Well according to the IDA, it’s all about the four ‘T’s: talent, technology, track record and tax. But with these new generation of scaling companies, O’Dowd says it comes down to two main factors: talent and speed. “All of these guys are involved in fast-moving markets and they want to be able to move fast, get up and running and build a team. Also, the ability to get middle management from some of the more experienced companies is a major attraction. For instance, the two guys at MongoDB are ex-Oracle. The main guy at Nitro came out of Salesforce. That experience is very important for these companies to be able to access. But then there is the wider talent agenda in terms of getting software developers and support people, that’s something they can access very fast. So it plays to that agenda of speed. It’s something Ireland can offer and we’ve been able to capitalise on that.”

A NATIONWIDE AGENDA One of the major positive signs for the future of FDI in Ireland has to be the distribution of inward investment across the country. These companies are no longer just coming to the capital. A recent example is Atlanta-based Bluefin Payment Systems, who in September announced it is to establish a technology and operations centre in Waterford city, creating 40 new jobs over the next three years. On the same day CipherTechs InBUSINESS | Q3 2015

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Inc., the information security services provider headquartered in New York, unveiled plans to set up its EMEA headquarters in Kilkenny, creating 36 new jobs over five years. These announcements come thick and fast these days and while much of the focus was on Dublin and ‘Silicon Docks’ in recent times, a number of significant tech clusters have been quietly building in Cork, Galway, Waterford and Limerick. Barry O’Dowd, Senior Vice President of Emerging Business “You just have to look at at the IDA Cork and see the success we’ve had in security there,” says O’Dowd. “Examples are Malwarebytes, eSentire and AlienVault. All of those are in the security space and are doing really well. These companies have been attracted to the ecosystem in Cork and what’s going on in the area of security at the Institute of Technology and at UCC.” Meanwhile, on the sales side, there has been a number of successes in Limerick with sales support centres. Examples of those are Kemp, Arista, ETQ, viagogo and Gilt. “So you’re beginning to see that clustering effect,” says O’Dowd. “In Dublin you have a lot of the adtech companies such as Adara and Adroll. These newer generation adtech companies are very taken with the older generation of companies that we have such as Google, Facebook and LinkedIn.” A number of early stage fast-growth companies have been attracted to Waterford too. Primeur from Italy is a good example, as well as New York-based Adorama who set up operations in Dungarvan. Then in the west, Galway has an interesting line-up of new generation firms, among them fintech company Perseus, Smart Bear Software and cyberware company IDT911. O’Dowd is keen to get the message across that it is not just an agenda for the capital. “We’re very committed to bringing these companies around the country. There’s lots of evidence that we’re being successful in bringing them to locations outside of Dublin and that’s a key piece of our strategy now, to continue this drive that benefits the whole island in a wider context.” So on a personal note, is there any international firm O’Dowd would love to bring here? He laughs. “There’s plenty of them. I don’t want to give too much away. Right now we’re optimistic that we’ll exceed this year’s targets and when we hit the new year, our pipeline is strong.”

FDI Over the next 12 pages we profile some of these early stage fast-growth companies who have made Ireland their home and one bank helping them set up here.

P.69

Bank of Ireland

P.71 YOUPASS

P.73 New Relic

P.75

Malware Bytes

P.77 Kemp

Technologies

P.79 Primeur 67

05/10/2015 12:31

What makes us different? Over 70% of companies setting up in Ireland choose us*

Why have these companies chosen us? Because we’re the Number One corporate bank in Ireland. Our dedicated FDI team offer a leading service to international companies setting up operations in Ireland. And we have extensive experience of the Irish investment market and the varied requirements of international investors. It’s why some of the world’s leading companies chose to work with us.

To experience why we’re different contact:

Derek Collins Executive Vice President +353 (0)76 624 4595 +353 (0)86 259 2496 derek.collins@boi.com

Dan O’Donnell Vice President +353 (0)76 624 5538 +353 (0)86 389 4652 dan.odonnell@boi.com

Kevin Elliot Senior Vice President +1 212 856 8207 +1 646 624 9311 kevin.elliott@boius.com

www.bankofireland.com/FDI * Based on Bank of Ireland analysis of independent industry statistics 2015 Bank of Ireland is regulated by the Central Bank of Ireland.

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Corporate Banking

05/10/2015 14:47

FOREIGN DIRECT INVESTMENT BANK OF IRELAND

Investment

WITH IMPACT We spoke with Bank of Ireland’s head of FDI, Derek Collins, to discover more about what they’re doing to attract inward investment.

f the reports are to be believed, Ireland’s economy is beginning to find its feet. Add to that the news from IDA Ireland concerning strong foreign direct investment (FDI) performance in the first six months of 2015, and economists may hold the seeds of hope in their hands as we head towards 2016. Derek Collins is the global head of the FDI team at Bank of Ireland. “We have seen very strong performance in the first six months of the year in terms of the number of companies we are working with, and would also be optimistic regarding the pipeline for the remainder of 2015,” he says. “What we’re seeing is a continued interest by US companies that are looking to use Ireland as a base to build their EMEA business.” Collins is quite clear about the factors involved in this interest – the depth of Irish talent, the ease of doing business in the country, access to the European market, favourable tax conditions, our highly educated workforce and connected research infrastructure. “The other important element that goes

without saying is that the IDA makes it happen,” he adds. “We would like to acknowledge and compliment the decision by the Irish government to invest in the IDA, and to add additional resources across their US offices and other offices across the world.” The FDI team at Bank of Ireland views themselves as very much an integral part of ‘Team Ireland’, as a leading service provider in supporting the Government and the IDA in their efforts to attract investment. “We have a very professional working relationship,” Collins explains. “They are a government agency and they are very impartial in their dealings, but they recognise and acknowledge service providers like the bank through having an on the ground presence in the US. As part of this position, we are working hard to complement the IDA in its efforts to attract inward investment. For example, we have launched a new website to support customer research

Derek Collins, head of FDI, Bank of Ireland

InBUSINESS | Q3 2015

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as they look to invest in Ireland or Europe – an FDI library that provides the full spectrum of information that companies look for when evaluating an investment decision.” In addition, the bank launched its new enhanced Business Online proposition in early May. This platform has been developed in terms of its content and also the user experience, and access has been provided for across the varying mediums. “Our US customers are giving us great feedback on the new banking platform, which is now supported by our customer support centre being open until 4pm California time,” adds Collins. In order to expand its reach in the US and in tandem with the IDA, BOI has appointed a dedicated team member, Kevin Elliott, to work in its New York office supporting high growth companies as they look to invest in Europe using Ireland as their base. Elliot has worked with the IDA in the US for the past number of years, covering the life sciences and ICT sectors, and his move allows BOI to have a presence on the ground to provide the necessary expertise and responsiveness. Looking ahead, Collins remains positive for what the future holds for all stakeholders. “What we’re seeing is a commitment by Government to listen to what international companies are looking for and to ensure Ireland is and remains very competitive in the international landscape. We’ve also noted the big commitment by Government and the IDA to the financial services centre, and the recently launched strategic document, the implementation of which aims to create up to 10,000 jobs over the next decade. There are specific actions that can be taken by all key stakeholders, working together to achieve success in the financial services sector,” Collins concludes.

05/10/2015 12:31

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05/10/2015 14:49

FOREIGN DIRECT INVESTMENT YOUPASS

FRENCH

LANDING Lured to Dublin last year by the exciting start-up scene and top talent on offer, French fintech company YOUPASS is feeling right at home in the capital, as InBUSINESS discovered.

tart-ups are everywhere these days and competition is fierce, regardless of the sector. For this reason it’s important for a business to carve out a niche in the marketplace at an early stage. That’s exactly what Florent Thiebeaux did in 2011 when he founded fintech company YOUPASS in Nice, France at the age of 20. The start-up provides a form of online payment to gamers so they can top up wallets and buy digital goods online using their mobile phones. The key advantage is that customers using YOUPASS don’t need access to a credit card and, since its inception, the company has built up a customer base of over half a million consumers in France. Now, YOUPASS has established a presence at Dublin’s Digital Hub. Working among a vibrant cluster of technology enterprises, YOUPASS opened its Irish office in May 2014 and already has a staff of 20. Although headquartered in Nice, along with a small presence in London, Kerrie Power, Director of YOUPASS, says most of the company’s growth will be in Dublin, due to the high quality of talent here as well as it being a great base for start-ups. “When I met with YOUPASS through the IDA about a year or two ago, they were talking about what they wanted to do in Dublin,” explains Power. “They were interested in the language skills we have here, the technical and engineering talent that you can attract. Then there are InBUSINESS | Q3 2015

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The YOUPASS team in Dublin

our partnerships with other games companies, as well as Amazon, PayPal, Facebook who have a presence here. It’s one of those places where you can attract a lot of talent and develop great relationships very easily. So that’s the reason they were looking at Dublin and the reason they eventually came to Dublin.”

AT HOME IN A START-UP HUB Dublin has been developing quite a name for itself as a global start-up hub thanks to the work of organisations like the IDA and the new office of the Start-up Commissioner for Dublin. Power says it’s great to be part of such a vibrant and flourishing start-up landscape. “For young companies like YOUPASS it has been phenomenal to be part of the start-up scene here. Everyone has been super helpful. The networking events that the IDA organises has enabled us to reach out and meet other groups. Working in the Digital Hub has been brilliant for us as well because we’re working among great companies like SiliconRepublic, Stripe, Slash, there’s loads!” YOUPASS announced in June the creation of an additional 20 roles at its new Dublin base. The positions will be filled in the next 18 months and are in engineering, marketing, customer

The networking events that the IDA organises has enabled us to reach out and meet other groups. Working in the Digital Hub has been brilliant for us as well because we’re working among great companies like SiliconRepublic, Stripe, Slash, there’s loads!”

support, future localisation and fraud analytics. At present, the company only offers its service for sale in France, but it is now looking to expand into other markets in 2016. “That’s our plan but we don’t want to get into exactly which markets just yet,” says Power. “But watch this space because we hope to be in a few others by the end of next year.” For now much of the focus will be on customer experience. As YOUPASS CEO Lionel Artusio puts it: “We will be building an experienced IT and customer relations team to focus on providing the best products and services for our customers in Europe and worldwide pretty soon. The Dublin office will work closely with our Nice and London offices to put our ideas and strategies into motion.”

05/10/2015 12:32

NR-BusIreland-Bad-Software-f.pdf

8/24/15

5:20 PM

So make sure your software works. Software Analytics from New Relic gives you deep, real-time insights into how every part of your software is performing. So you can understand your customers and your businessâ&#x20AC;&#x201D; and focus on your future.

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05/10/2015 14:50

FOREIGN DIRECT INVESTMENT NEW RELIC

New Relic Data Nerds

DO DUBLIN

New Relic has established itself in Ireland and Dublin – and it’s loving this country and the opportunities it provides.

ublin holds a special place in the hearts of the New Relic team as the home of our company’s first international office. With our headquarters in San Francisco, in February 2014 the New Relic Data Nerds opened the doors to our Dublin office to deepen relationships with customers in Europe and around the world. Now, over a year after coming to Dublin, we have grown the team from a handful of sales and tech support staff to IT and other business functions. The talent and energy in Ireland has been a perfect match for New Relic’s continuous innovation.

WHAT IS SOFTWARE ANALYTICS? As every company becomes a software company, InBUSINESS | Q3 2015

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NEW RELIC:

THE LOWDOWN

500K users

1bn

mobile app installs monitored

San Francisco, CA with offices in Portland, OR, Seattle, WA, Barcelona and Dublin

website domains monitored

700B data points per day

businesses must make sure they understand their software’s performance, the customer’s experience in that software, and how their software’s data can inform business decisions. Between devices, browsers, app code, third parties, microservices, customer information and business metrics, it’s a lot, and it’s not showing any sign of slowing down. So how do you keep up? New Relic’s Software Analytics Cloud helps companies make better, data-driven decisions using real-time data from production software.

in the heart of the city, just steps away from Trinity College). The Europe, Middle East and Africa (EMEA) region has been a focus for New Relic, with revenue in EMEA increasing 94 per cent year-over-year in fiscal year 2015 and growing to 19 per cent of the company’s total revenue in the same period. Ireland has been a fantastic home for our New Relic team and we have had the incredible opportunity to connect with the country’s leaders since opening our Dublin office. Richard Bruton, Ireland’s Minister of Jobs, Enterprise and Innovation, hosted a press conference for our local office opening and we were later visited by Taoiseach Enda Kenny, during his visit to Silicon Valley and San Francisco. We can’t get enough of the Irish!

LIFE AT NEW RELIC

DATA NERDS AROUND THE GLOBE

With over 500,000 customers and 12,000 paid business accounts, it’s an exciting time to be at New Relic. We’re helping people build modern software businesses and we’re having a fun time while we’re at it. Our CEO Lew Cirne often says: “We love our Mondays.” We’re focused on building beautiful products and solving tough technical challenges and creating an environment where people can do the best work of their lives. From developers and IT ops to digital business owners, people everywhere are becoming Data Nerds and New Relic is thrilled to be at the centre of this movement.

In Dublin, we feel like we are in the heart of the global Data Nerd movement (our offices are

Learn more about New Relic at newrelic.com. And we’re hiring! Visit newrelic.com/careers

05/10/2015 12:33

CRUSHES MALWARE

Restores Confidence Malware threats today need a layered security approach & your antivirus is just not enough. Just add Malwarebytes â&#x20AC;&#x201C; the leading, award winning anti-malware vendor.

Malwarebytes, 5 Lapps Quay, Cork 021 2418017 | emeasales@malwarebytes.org

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www.malwarebytes.org

05/10/2015 14:51

FOREIGN DIRECT INVESTMENT MALWAREBYTES

SECURING AN

IRISH PRESENCE Security firm Malwarebytes has recently opened its new EMEA HQ in Cork. We spoke with the firm’s VP of Sales, EMEA, Anthony O’Mara, to discover more about how this came about, and their successes in Ireland so far.

mong the recently growing cluster of security companies located in Cork city you’ll find the EMEA headquarters of Malwarebytes, an organisation that is by now a household name for anyone with a leaning towards IT or computing. The precursor to their popular anti-malware offering was first built in 2004 by then 14-yearold Marcin Kleczynski as a result of accidentally downloading a virus onto his parents’ computer. Kleczynski founded the company when he was 18 and made his first million a year later and Malwarebytes has since gone from strength to strength. Last year, for example, around a27 million in venture capital was raised for the company. And, earlier in 2015, Kleczynski was on hand to open the new EMEA headquarters in Cork, a significant step in enhancing their enterprise footprint on this side of the world. Why Cork? At the helm of the new office is Anthony O’Mara, and he explains why. “The company had

InBUSINESS | Q3 2015

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been looking to move to Europe anyway, and the IDA had been engaging with them. Then, when they met me, they asked me my opinion,” he says. “I happen to live in Cork, although I’m not from Cork. But they said ‘we’re going to pick Ireland, where would you pick?’ There’s a great enterprise cluster here in Cork and with that now we have a security cluster. I think there is a talent pool here now who understand what it takes to operate in security. If you’re looking for talent that can hit the ground running, it’s in Cork.” Also on hand to assist in this decision making process was the IDA, who had previously been in touch with the organisation about a possible investment in Ireland. O’Mara is a big supporter of the IDA and the work they do in promoting and marketing Ireland as an attractive destination for inward bound companies seeking to invest. “They started talking to Malwarebytes and marketing into them about 18 months ago, selling Ireland,” he explains. “And when I

came onboard they were also very involved. If there is any road block, the people I have dealt with have been willing to try and remove them, no matter how big or small.” O’Mara is also quite forthright about the qualities Ireland possesses in attracting FDI, particularly in relation to the workforce. “The talent is here. I think that’s the biggest thing – no amount of tax deductions are going to make you come here if you can’t hire the people you need to drive the company. We still seem to attract not alone FDI but people of other nationalities, who speak other languages and bring high skillsets. Those two are the biggest contributing factors. And then things like tax are cherries. If you find your business worrying about tax, your business is not going to succeed.” Though it’s still early days for the new headquarters in Cork, the signs thus far are positive – sales have been growing 100 per cent quarter on quarter in Europe this year, almost all of which is driven by the team in Cork. The company has identified the talent of its staff as a key factor in its future success, and is already planning to hire more staff to support their revenue targets – O’Mara points to a total workforce of around 50 people in two years’ time. “The biggest thing for us is competing with the bigger players to attract talent,” he says. “We have doubled our headcount in the last six months around the world. And we’re looking for talent all of the time. If anybody would be interesting in working for a company like Malwarebytes, or in the sector, I’d be more than glad to talk.”

05/10/2015 12:34

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05/10/2015 14:53

FOREIGN DIRECT INVESTMENT KEMP TECHNOLOGIES

STEPS TO

SUCCESS InBUSINESS spoke with Kemp Technologies MD Marguerite O’Grady to learn more about the company’s first steps in Ireland, and the success they have achieved since.

t has now been five years since Kemp Technologies established their EMEA headquarters in Limerick, and the Irish arm has continued to grow from strength to strength. Beginning with just five people, Kemp Technologies in Ireland now employs 58, rising to 60 by the end of the year, with a further ten positions planned for 2016. The company operates in the application delivery technology side of the IT sector, providing load balancing technology that allows their customers to manage server availability. Five years ago, Kemp offered five products for sale. Since then their product range has increased by a factor of five. “The Irish operation has definitely been a big success for us,” explains Managing Director Marguerite

Marguerite O’Grady, MD, Kemp Technologies

InBUSINESS | Q3 2015

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O’Grady, an accountant by trade who has been with Kemp here since the beginning. Ireland was chosen by the founders as the best location for their EMEA HQ for several key reasons, including business supports for growing companies, a long history of FDI, and affordable set up costs at the time. Add to that the accessibility of Limerick via Shannon Airport, as well as the talent pool from the University of Limerick and LIT, and the southwestern city made for a very appealing destination.

HELPING HAND They didn’t make this move on their own, however. As is the case with many US organisations that find a new home on Irish shores, the IDA was instrumental in selling Ireland as

The success that we have experienced on this site meant that we got a greater charter from global HQ in New York to expand and try different functions here in Limerick.

a worthwhile location. “They did a lot of things that were very helpful from a local perspective, in terms of helping us to understand the different areas within the city when it came to opening an office, what courses in the different universities might be worth targeting in terms of sourcing talent,” O’Grady explains. “They provided very practical help in getting the Kemp name out there, and in meeting other companies that had been in similar situations starting up. A lot of the assistance from IDA was very practical and I know they’ve been a key component in our success so far.”

GROWTH AND SUCCESS Since then, the company has gone from strength to strength, growing and expanding the depth and breadth of work that is done in Limerick. “Initially our remit was simply operations and customer support,” O’Grady says. “But that has expanded over time. The success that we have experienced on this site meant that we got a greater charter from global HQ in New York to expand and try different functions here in Limerick. We have a large chunk of the global R&D team here in Ireland; about half of the 58 people that we have working for us are working on the products either through development or documentation, marketing and that link between marketing and product development.” Moving forward, O’Grady is targeting continued growth for the Limerick site, building on the back of 30 per cent growth this year, with successes in more markets in the EMEA region, including the Middle East and Africa. Coupled with a recent relocation to new business premises to facilitate this growth, and their increasing workforce, the signs are certainly good. “2015 will definitely go down as a good year for Kemp in EMEA,” she concludes.

05/10/2015 12:35

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06/10/2015 16:35

FOREIGN DIRECT INVESTMENT PRIMEUR

From Ireland TO THE WORLD Primeur CTO Luca Musso explains how Ireland represents a great opportunity for his company’s worldwide expansion.

multinational European software company founded in 1986 and headquartered in Switzerland, Primeur operates in the data integration market, providing data and system integration mainly for large companies – financial institutions and banks, the public sector, the automotive industry, telco operators and FMCG/retail. The company has found a second home in Ireland since 1999. Their first Irish office opened in Shannon in the heart of the midwest, and operated there for almost 12 years before the decision was made to relocate to Dublin. “We allow our clients to transfer, manage, secure and transform data,” explains Primeur CTO Luca Musso. “Three years ago we made the decision to move to Dublin to establish a R&D laboratory. I started operations here in Dublin with big help from the IDA. However, recruiting top candidates has been challenging for us in a city where the competition is high with the presence of so many global technology companies like Facebook and Google.” In order to accelerate the company’s growth, and to get access

Musso also has an eye on the US market, and on extending their presence using Ireland as a stepping stone across the Atlantic. Luca Musso, CTO, Primeur

to the most qualified candidates with whom they could establish strong business relationships Musso, again with the help of the IDA, travelled to Waterford and discovered the perfect location for a second R&D lab. “There is an important university there, Waterford Institute of Technology, and I found the opportunity to open an office in the Innovation Centre,” he explains. “Waterford is a strategic location because we can directly contact highly skilled engineers and IT professionals who are looking to invest in their future, establishing in most cases a long-term relationship with our company. We build our team by investing and believing in single individuals, which is something that is not so common, particularly in OTT companies or in other large corporations based in Dublin.”

VISION

Primeur R&D Lab - Waterford

InBUSINESS | Q3 2015

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Musso’s company vision is to grow and expand Primeur’s size and to stand out on a global scale as a key player in data integration,

delivering the greatest value to clients and helping them to accelerate their business. Primeur has built trust over the years with many Fortune 500 companies as well as medium size enterprises. In the next three years Primeur is planning to hire 15-30 employees in the R&D department, or even more should their pace allow it. “We are aiming to become a more truly international company reinforcing our operations in Europe, the US, LATAM and Asia,” he says. Musso also has an eye on the US market, and on extending their presence using Ireland as a stepping stone across the Atlantic. “There are so many links here between Europe and the US that will make it easier for us to build opportunity in the States.”

INVESTING IN IRELAND With two prime R&D labs located close to top IT and technology universities (Dublin and Waterford), Primeur Group is confirming their investment plans in our country. “Ireland for us is becoming a strategic hub. We are establishing central laboratories for product research and development – one of the most important technical aspects of the job will be done here. I think this is a demonstration of how much we believe in Ireland,” Musso concludes.

05/10/2015 15:18

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05/10/2015 14:53

AWARDS

2015 Ian Talbot, CEO of Chambers Ireland, Theo Cullinane, CEO, BAM Ireland, Sarah Dempsey, Head of Corporate Affairs and Economics, Ulster Bank (Winners of the Outstanding Achievement in CSR) and Minister Alan Kelly, Department of the Environment, Community and Local Government

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05/10/2015 12:36

This is the first in a series of tips to help SMEs see the benefits of being a responsible business

Tip No. 1

from

Responsible Business.ie

{ } Did you know that being a responsible business can

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69% of Irish consumers are more likely to buy from companies that act in a responsible way, even when compared to cheaper competitors1

1 Online survey commissioned by Ricoh polled more than 1,000 adults (16+) across Ireland

Brought to you by:

Responsible Business for SMEs is a new service for SMEs from the experts at Business in the Community Ireland

www.responsiblebusiness.ie Bright Ideas for Responsible Business.indd 1 XXXXXX_Business in the Community_ALS_IB.indd 1

17/08/2015 14:54 09:13 05/10/2015

CSR AWARDS WINNERS 2015

BEST IN Class CSR The 12th Chambers Ireland CSR Awards highlighted the level of dedication and creativity shown by Irish businesses in carrying out their CSR strategies.

lster Bank has won the Outstanding Achievement in Corporate Social Responsibility (CSR) Award at the 2015 Chambers Ireland CSR Awards held in Dublin on September 3rd 2015. The judging panel selected Ulster Bank for the sustained excellence of their CSR programmes. The twelfth annual awards were partnered by Business in the Community Ireland, run in association with the Department of Environment, Community and Local Government and kindly sponsored by BAM Ireland, the Environmental Protection Agency and JustGiving. Each winner

was presented with a specially commissioned trophy designed by Waterford Crystal. Speaking at the event, Ian Talbot, Chief Executive of Chambers Ireland said: “The number of companies embracing CSR is growing every year due to the increasing recognition that responsible business practice is smart business practice, with benefits not just for the wider community, but for the business itself. We are delighted to celebrate the commitment of Irish companies to CSR and impressed by the level of dedication and creativity shown by our businesses in carrying out their CSR strategies.”

OTHER AWARDS PRESENTED ON THE NIGHT EXCELLENCE IN COMMUNICATION AWARD

EXCELLENCE IN COMMUNITY – VOLUNTEERING - LIC

■ Electric Ireland - Darkness into Light

■ Ulster Bank - MoneySense for Schools

EXCELLENCE IN INTERNATIONAL CSR

EXCELLENCE IN COMMUNITY VOLUNTEERING - MLC

■ IBM Ireland - IBM Corporate Service Corps Program EXCELLENCE IN ENVIRONMENT AWARD - LIC ■ Cork University Hospital - Achieving a Sustainable Environment at Cork University Hospital EXCELLENCE IN ENVIRONMENT AWARD - MULTINATIONAL COMPANY ■ Astellas Ireland Co., Ltd. (Kerry Plant) - Changing tomorrow – Our journey to Sustainability EXCELLENCE IN MARKETPLACE CSR AWARD ■ Abbott Nutrition Ireland - Essential Elements of Nutrition Care Programme EXCELLENCE IN COMMUNITY – COMMUNITY PROGRAMME - LIC ■ Dublin Port Company - Early Learning Initiative EXCELLENCE IN COMMUNITY – COMMUNITY PROGRAMME - MLC

■ Intel Ireland - Intel Involved EXCELLENCE IN WORKPLACE - LIC ■ ESB - Positive Mental & Physical Health Promotion EXCELLENCE IN WORKPLACE CSR AWARD - MLC ■ PayPal - Live Well Programme EXCELLENCE IN COMMUNITY PARTNERSHIP WITH CHARITY - LIC ■ Bewley’s - Ireland’s Biggest Coffee Morning EXCELLENCE IN COMMUNITY PARTNERSHIP WITH CHARITY - MLC ■ Microsoft - Youth2Work EXCELLENCE IN CSR BY AN SME ■ DHR Communiation - Working with and for The Liberties

■ Genzyme - Partnership with Project Treo Port Láirge Ulster Bank, Winner of Outstanding Achievement in CSR

InBUSINESS | Q3 2015

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*LIC: Large Indigenous Company | *MNC: Multinational Company

05/10/2015 17:42

CSR AWARDS 2015 ULSTER BANK

Building a Vision FOR THE FUTURE Winner of 11 CSR awards since 2010, and the only bank in Ireland to be accredited with the Business Working Responsibly Mark, Ulster Bank recently joined the top tier of responsible companies in Ireland by winning the Chambers Ireland 2015 Outstanding Achievement in CSR Award.

reland’s third largest bank, Ulster Bank employs 5,500 people, and provides banking services to more than 1.9 million customers across the island of Ireland, from personal customers through to SMEs, large corporate and multinational businesses. “Our vision is to be the number one bank for customer service, trust and advocacy on the island of Ireland.” says Pauline McKiernan,

Manager of Sustainability and Community Affairs at Ulster Bank. “Being a responsible business is fundamental to everything we’re doing to achieve our vision – building a simpler, fairer bank for our customers, creating a great place to work for our people and being innovative in the ways we can achieve impact in our communities. It’s quite a simple strategy – focus on what matters to our stakeholders and create

Jill Smyth, Ulster Bank’s Head of MoneySense, working with students from Girls Model school Belfast and St Mark’s secondary school, Dublin in a recent north-south schools collaboration on financial education.

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long-term benefits for our customers, communities and our economy.”

MAKING SENSE OF MONEY MoneySense for Schools, Ulster Bank’s strategic community programme, was selected by Chambers judges as an outstanding example of a high-impact skills-based volunteering programme. It’s an online financial literacy programme the bank has been developing in collaboration with teachers since 2007. It was ahead of its time in being an internet-based resource well before schools had high-speed broadband, now welcomed by teachers as they embrace new digital platforms to enrich student learning. With 110 hours of free teaching resources, using videos, vox pops, interactive quizzes and case studies, it’s a whole new way of learning about money and banking. “Improving financial capability is a cause we’re committed to for the long-term” says McKiernan. “People will always need budgeting and money management skills to tackle the financial pressures that inevitably arise during different stages of our lives. Giving young people these skills will help prepare them for a better financial future.”

AWARDS 2015

WINNER

SHARING CORE SKILLS While MoneySense is designed for direct teacher delivery, it also harnesses the core personal finance skills of over 200 Ulster Bank employees who are trained to support teachers in delivering MoneySense. “Our volunteers are really the life-blood of the programme. It’s their in-depth knowledge of personal finance that brings the subject to life and adds real value to teachers and students. Our fulltime head of MoneySense manages the programme, schedules training and ensures ongoing coaching/ buddying-up to build volunteers’ skills and confidence,” McKiernan explains. The programme is helping to build pride and engagement and supports the personal development objectives of employees. These are key factors in ensuring employees are motivated and passionate about supporting the banks customers and communities.

SOCIAL IMPACT MoneySense has grown to become the largest free financial education resource on the island of Ireland. Over 1,200 teachers use the programme, impacting the lives of 55,000 students in 650 secondary schools islandwide. Collaborating with InBUSINESS | Q3 2015

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CSR AWARDS 2015 ULSTER BANK

teachers, Ulster Bank has recently developed new content for the Junior Cycle curriculum. The Bank has also responded to the needs of younger audiences, and will be launching its first MoneySense resource for primary schools next month. Each year the bank’s hands-on support for schools has included hosting a range of regular volunteer-led classes and special MoneySense learning events, including half-day ‘You’re in Business’ Enterprise workshops, a number of Dublin and Belfast schools themed collaboration events and student presentations to the education sub-committee at Stormont. Janice Martin, Deputy Principal at St Mark’s school, Tallaght, is one of many teachers who uses the programme regularly: “Personal finance is not a subject students are drawn to naturally, so when you have a programme like MoneySense which is interactive and fun - it’s amazing how interested they become in the topic of money! I was delighted to work with Ulster Bank in developing new resources last year for Junior Cycle – it’s good to see a bank investing in something that will make a difference to young people in the long term.”

MAKING A DIFFERENCE Chambers Ireland award judges also nominated Ulster Bank for three further awards this year. In terms of excellence in the workplace, the bank has a wide range of initiatives to create a great place to work. InBUSINESS | Q3 2015

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One initiative – the Choice flexible working programme – was shortlisted for its fresh approach to employee wellbeing and work-life balance. The programme marks a distinct cultural shift within Ulster Bank by engaging its leadership team to adopt and promote the benefits of flexible and home-working. This has not only resulted in meaningful cost-savings for the business, but has created a more trusting work environment, which in turn has improved employee engagement and motivation. Ulster Bank’s all-island £250,000/a300,000 Community Impact Fund was also shortlisted in the Excellence in Community Programme category. Developed in 2013 in partnership with the Community Foundations, the fund provides grants to help community organisations deliver financial education, enterprise and employability projects in local communities. It has awarded grants of a690,000 to 47 community projects that are helping people to find work, start a business or improve their personal finances. By addressing these issues and reaching those most in need, the fund supports inclusive economic recovery and future growth. This year Ulster Bank and its parent, Royal Bank of Scotland, launched their Skills and Opportunities Fund, which commits to providing grants of a300,000 per year for the next three years for local community projects across the island of Ireland that work to promote enterprise, education and employability.

Ulster Bank’s Cathal Nolan, pictured with Jennifer Gargan and Michelle Martyn of EPIC, Empowering People in Care. EPIC received a48,500 from Ulster Bank’s Skills and Opportunities Fund to help young people leaving State care to improve their confidence and employment prospects.

In supporting these long-term initiatives and spreading the word about the work they do, Ulster Bank’s CSR communications are all about rebuilding pride, engaging its people and making it easy for them to get involved in supporting their local communities. Through its chief executive staff roadshows, blogs, bulletins, people boards and listening groups, the bank’s innovative approach to communication is the engine that is already turning its business

Alison Rose, Chief Executive, Commercial and Private Banking at RBS, takes time out to support Ulster Bank customers with Aaron Owens at the Customer Contact Centre.

around, shaping positive cultural change and transforming the bank into a customer-centric organisation that all its people can be proud of. “If we’re to achieve our vision on service, trust and advocacy, we need this to be a great bank for our people. Ultimately, it is their involvement in supporting our customers and communities that strengthens our brand as a responsible business and helps us retain that strong community culture that we’ve built up over many decades,” McKiernan concludes.

05/10/2015 17:08

CSR AWARDS 2015 ESB GROUP

Powering CHANGE

AWARDS 2015

WINNER

ESB is leveraging its substantial resources and profile in Ireland to make real change, both within and outside the organisation.

s a matter of strategy, ESB Group remains as committed to the social and environmental dimensions of its business as to its financial performance. Since the publication of its first Corporate Social Responsibility report in 2004, the organisation has continued to deepen its understanding of the concept, ensure that responsible action underlies all decisionmaking, and is committed to being a successful, responsible and progressive company contributing to the economic and social life of Ireland and of those countries in which it operates abroad. In business for the long term, ESB aims to ensure all its actions have a positive, fair and ethical impact on all of its stakeholders.

WATER STRATEGY The ESB Networks Conservation Programme is one such initiative. ESB has recognised that water is a valuable resource that shouldnâ&#x20AC;&#x2122;t be wasted, solidifying this principle in its Sustainability Strategy 2020, committing ESB to reducing water usage by 30 per cent by that date. Based

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around the installation of a system providing real time water usage and facilities monitoring at ESB Networks depots, ESB has worked with a third party to develop automatic meter reading data via meter.ie, allowing the organisation to easily track its water consumption. The system uses ESB pulse output meters and data loggers that piggyback on existing infrastructure meters, meaning that limited civil works were required, resulting in minimal impact on the surrounding environment. ESB would like to acknowledge the support it has received from local authorities and Irish Water in implementing the project. Monthly reports are generated for ESB managers and, in addition, alarms are raised in circumstances of abnormal water usage levels, or possible leaks. In one case during the Christmas holiday period, a 5,000 litres per hour leak was identified, which could have resulted in the loss of up to 1.2m litres had it gone unnoticed for a week. A number of local advanced technology water conservation pilots have been carried out with

success, and it is planned to roll it out to further ESB depots moving forward.

PROMOTING HEALTHY LIVING With 5,500 staff members, ESB Group is one of the largest organisations in Ireland. Under its expansive CSR programme, ESB has also sought to improve the welfare and morale of its personnel in relation to positive mental and physical health, recognising that, similar to the national population, the incidence of stress and mental illness may be on the increase among its workforce.

To that end, a range of supports have been developed to encourage self-awareness, to develop coping strategies and, where necessary, to provide access to more acute intervention routes. ESB has launched a new health and wellbeing website as a staff communications platform, with quick and easy access to all relevant information staff may need to deal with the challenges and pressures of life. The company is also running a series of mental health and team resilience workshops for all teams, a series of seminars on mental health and resilience, as InBUSINESS | Q3 2015

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CSR AWARDS 2015 ESB GROUP

COMMUNICATION

well as a monthly bulletin providing information on various themes covering physical and mental health. It has also developed the Well-being Champions Network, comprising 40 staff members who have volunteered to promote and support the wellbeing team as well as managers and staff in their own locations. In order to extend the reach as much as possible, the website is widely published throughout the company, and its context explained to staff. The content is updated on a monthly basis and to date 1,696 staff members have accessed the wellbeing website. ESB’s health and well-being team, and the well-being champions, have promoted and organised various pro-active initiatives, and the service is supported by six employee assistance officers located throughout the country, as well as a 24/7 confidential counselling support service. InBUSINESS | Q3 2015

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LIGHT FROM DARKNESS As the supply division of ESB Group, Electric Ireland’s CSR strategy mirrors that of the overarching organisation, striving to make a difference in its external communities and addressing some of the key social issues facing Ireland today. Through its CSR fund, Electric Ireland has been working with Pieta House since 2003, a charity that provides a professional, face to face, free of charge therapeutic service for people in suicidal distress, or those who engage in self-harm. Since 2013, the charity’s flagship fundraising event, Darkness into Light, has been Electric Ireland’s main CSR initiative, an awareness event that takes place every May, when thousands of people gather across the country at 4am to walk or run a 4km route, raising funds and generating discussion around suicide and promoting hope and solidarity in Irish communities.

Electric Ireland has been working with Pieta House since 2003, a charity that provides a professional, face to face, free of charge therapeutic service for people in suicidal distress, or those who engage in self-harm.

To ensure all goals were reached, a comprehensive communication campaign was required, to spread the word both internally and externally. Electric Ireland drove support for the initiative internally, holding two staff launches and 30 regional launches where Electric Ireland was represented by a staff member, pre register events for staff members, as well as a six-week TV, radio, digital, PR, outdoor and social media campaign to raise awareness. Externally, radio and TV ads featured a voiceover from Westlife’s Kian Egan, bill inserts were sent to Electric Ireland’s 1.4m strong customer base, an innovative outdoor campaign was developed, featuring sensor projectors that displayed a darkness into light message when people walked past, promotion through social media assets, and a digital campaign with an online media banner that lit up the more people tweeted from it. Electric Ireland also donated a further a1 for every tweet made from the banner, and utilised its ezine, which has a 50 per cent open rate and goes to 300,000 customers. As a result, in 2014 Darkness into Light expanded to 39 locations across the country, with over 70,000 people taking part. The events raised a1.7m in funding, a huge sum for a charity that is 90 per cent publicly funded. A survey of 1,000 people conducted afterwards reported that 69 per cent of all adults were aware of the campaign, while 63 per cent knew someone who had participated. The event is symbolic of Pieta House – bringing people from darkness into light – and Electric Ireland is proud to support it.

05/10/2015 12:40

CSR AWARDS 2015 DUBLIN PORT

Early Support FROM DUBLIN PORT Through its CSR strategy, Dublin Port Company continues to build on the strong and longstanding connection it has with local communities.

ublin Port Company’s commitment to its corporate social responsibility programme is underpinned by the policy set out in the company’s strategic plan 2012 to 2016. Within the strategic plan, Dublin Port Company (DPC) recognises their role in local communities with which they have strong connections stretching back generations. The CSR policy strives to strengthen these links and re-establish the

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historical integration of the port with the city. DPC’s CSR aims to contribute to sustainable economic development by working with employees, the local community and society at large to improve the quality of life, in ways that are both good for the business of the port and good for Dublin city, its citizens and visitors. In keeping with this commitment, Dublin Port Company is proud to support the Early Learning Initiative (ELI) at the

National College of Ireland (NCI). The programme, which was winner of the Excellence in the Community category (LIC), engages with parents, educators and the community as a whole in encouraging children’s learning journey at preschool level and preparing them for later success in school. The ELI mission is to address educational disadvantages through the provision of an integrated programme for children, their parents and families, and educators from the early years up to third-level. The long-term vision is that ELI will lead the way in providing first-class educational support programmes within local communities, thereby

AWARDS 2015

WINNER

enabling children, young people and their families to develop the dispositions, skills and knowledge needed to achieve their educational, career and life goals. Research has shown that early learning is the foundation of all subsequent learning and a child’s intellectual development is closely linked to the amount and quality of verbal interaction they receive. As part of the overall initiative, the Parent Child Home Programme is designed to strengthen the natural bond between parent and child and to encourage a love of learning. It employs a non-directive approach and encourages the parent as the child’s first and best teacher. The Parent Child Home Programme promotes positive interactions, which are child-focused and led between children, parents and local practitioners in the home. Home visitors provide a key component of this programme. They are all local people who have been employed and trained by NCI. They visit participating families twice weekly, providing educational tools and guidance for parents. During 2013 and 2014 they made an average of 48 visits to the 78 families participating in the programme. Twelve staff members from the DPC attended volunteer programmes and InBUSINESS | Q3 2015

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CSR AWARDS 2015 DUBLIN PORT

have acted as mentors and role models to some of the older children in the ELI. This involvement has been noted as a key motivational factor for the children involved. DPC staff also assisted the NCI to secure further funding for various ELI programmes by hosting a breakfast briefing which brought together other business in the port area. Eleven companies were represented at the breakfast briefing and as a result NCI entered into partnerships with two other companies and are in discussions with a third about forging a partnership. They also received a significant donation from another company within the port.

IMPACT As the Parent Child Home Programme is part of a broader educational initiative, results are recorded and monitored regularly. The home visitors measure the Child’s Behaviour Traits (CBT) in the month of November and again in May. The findings published by NCI found that 83 per cent of the children in the programme were meeting their developmental milestones in May 2014 compared with only 17 per cent when the programme began in November 2012. Feedback from families participating in the programme has also been very positive. One parent cited a significant

improvement in her daughter’s language skills who is now sharing those skills with her sister who is not on the programme. Another parent said she had learned a lot and now makes more time for her son after realising how important it is for him. The next step for the ELI is the Area Based Childhood (ABC) programme which DPC is delighted to support. The programme’s key objective is to develop the numeracy levels of children in the Docklands area to bring them in line with the national average as well as providing parents with numeracy skills and confidence to enable them to be involved in their child’s education.

DPC recognises the positive impact of the work of the ELI and is proud to support the initiatives, not only financially but also by providing volunteers who act as positive role models. The DPC will continue to provide a forum for NCI to showcase the work of the ELI. DPC’s Corporate Social Responsibility agenda is a cornerstone of the organisation’s overall strategy. It is the commitment of DPC to contribute to sustainable economic development for the years ahead and through its CSR policy, aims to heighten the awareness of the positive role the port plays in the daily life of the city and its citizens.

1,710,000 passengers welcomed to the heart of Dublin City annually

www.dublinport.ie

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05/10/2015 12:53

CSR AWARDS 2015 EVERSHEDS

Fulfilling Lives

THROUGH CSR Eversheds’ CSR work is about making their staff available to help improve the lives of people who are less fortunate.

versheds’ Corporate Social Responsibility (CSR) programme is delivered through our Fulfilling Lives strategy. Fulfilling Lives is focused on maximising the potential of people in society. This includes our own people and those who live in our communities. By making ourselves available to help people who perhaps are less fortunate than many of us, we strive to contribute to improving the lives of others. We also strive to help our own people by involving them in social activities beyond their normal professional skillset, and we seek to

support them directly through our Workplace Wellbeing initiatives. 2015 has been a very busy and rewarding year for the Eversheds CSR programme. This year we re-launched our CSR policy to focus on four main pillars: Community, Workplace Wellbeing, Arts and Culture and Environment. Community, which has been a key driver of our CSR programme for many years, focuses on our work with charities, education and pro-bono initiatives. Barretstown, which provides much needed therapeutic recreation programmes for seriously

ill children and their families, is Eversheds’ longstanding charity partner. Our staff members regularly volunteer at fundraising activities and site enhancement days for Barretstown. We are also the sole organiser of Eversheds Sports Day for Barretstown, which is the charity’s largest fundraiser. This year’s event proved to be a major success with 40 teams gathering in Herbert Park to compete in a traditional school style sports day. The teams were also joined by international rugby star Gordon D’Arcy. To date, this initiative has raised approximately a70,000 for Barretstown, and has introduced the charity to many of our corporate clients. One of our more recent partnerships is with the Early Learning Initiative

Gord D’Arcy and fellow participants in the Barretstown Sports Day

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(ELI). The ELI is a key programme for us as it presents a fantastic opportunity for our staff to volunteer with their linked schools, to become positive role models for their pupils. Our aim is to help to mentor and motivate the students to be aware of career and life opportunities, perhaps beyond those in their immediate families or communities. The ELI initiative has received an overwhelmingly positive response from our staff, with 65 per cent offering to get involved by signing up for the vetting process. To date, 50 per cent of staff have become directly involved in at least one offsite initiative. Eversheds employees are also encouraged to participate in pro bono initiatives whereby members of staff provide free legal advice to those in the community who need it most. We work in partnership with the Bar Council of Ireland’s Voluntary Assistance Scheme and PILA (Public Interest Law Alliance). This is an ongoing programme, which is assessed each year by Eversheds to see how it can be developed and grown further, so that they can continue to make an impactful and practical difference to those around them. InBUSINESS | Q3 2015

05/10/2015 12:41

CSR AWARDS 2015 eir

A YEAR TO

REMEMBER eir and Special Olympics Ireland celebrate their 30th anniversary.

competitors also set personal bests. eir employees worked tirelessly to fundraise for Special Olympics Ireland over the course of 2015. They started the year with a fundraising goal of a100,000 and within six months they raised in excess of a155,000 through a rage of initiatives, the biggest being the eir Great Limerick Run campaign. Team eir brought home the ‘Fittest Company Challenge’ title and raised more than a66,000 for Special Olympics Ireland in the process. eir ran a competition to find a team of ambassadors to represent their company and support Team Ireland by volunteering at the 2015 World Games. The lucky six were chosen because

Ray McManus / SPORTSFILE

015 has been a milestone year for eir and Special Olympics Ireland as the two organisations celebrate 30 years of working together. This is the longest corporate responsibility partnership of its type in Ireland; it is no longer referred to as a sponsorship because it truly has become a partnership with both organisations working seamlessly together. This year is also significant because the Special Olympics World Games took place in LA this summer and Team Ireland enjoyed their most successful World Games to date. Eighty-eight Irish athletes leftLA with a staggering 86 medals, including 26 gold, 29 silver and 31 bronze. Thirty-one

Team Ireland’s Keith Butler, a member of D6 Special Olympics Club, From Walkinstown, Dublin, on his way to winning the gold medal in the AQ 800M Freestyle Division M5 Final at the Uytengsu Aquatics Center. Special Olympics World Summer Games, Los Angeles, California.

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they best demonstrated their commitment to volunteering and implemented creative ideas for fundraising. The team raised more than a10,000 through a range of creative fundraising initiatives including a Stars In Your Eyes singing competition, a ‘flip the shamrock’ St. Patrick’s day fundraiser, bake sales, race nights and much more. The six hail from counties across Ireland. “The World Special Olympic Games are now in the memory bank and what a wonderful array of memories we shared in what can only be described as a once in a lifetime experience. I was assigned to spectator services along with many of the Irish volunteers – this role was a meet and greet type role which I suppose suited us Irish with the ‘gift of the gab’. Many people were interested in the Irish accents and wondering how we had so many volunteers – Special Olympics Ireland is the only country which sends volunteers to work specifically on the World Games. The Americans

thought we were all awesome!” says Tony Cusack, eir Volunteer. “The impact of the success of Special Olympics Ireland is best demonstrated by the fact that in Ireland, 30 per cent of people with an intellectual disability engage in sport; compare that with 3 per cent in Europe and 2 per cent for the rest of the world,” adds Carolan Lennon, Managing Director, Wholesale open eir. “Special Olympics Ireland provides athletes with far more than the physical benefits of sport. Through sport, athletes develop both physically and emotionally, they make new friends, realise their dreams, and become the best they can be. This is at the very core of what we do in eir. It is our job to enable and facilitate people to connect, using our technology in homes and businesses to make the way we live and the way we work easier. Like Special Olympics Ireland we want to enable people to be the best that they can be and to reach their true potential.”

eir and Team Ireland volunteers get set to fly to LA for the 2015 World Games

05/10/2015 12:53

CSR AWARDS 2015 ABBOTT IRELAND

Life. To The

AWARDS 2015

WINNER

FULLEST Abbott is a global company with a focus on improving their local communities.

globally diversified healthcare company, whose central purpose is to help people through better health, Abbott has been operating in Ireland since 1946, employing 3,000 people across 11 sites. Investment in Ireland has been consistent and regionally spread. We have six manufacturing facilities located in Clonmel, Cootehill, Donegal, Longford and Sligo and a third-party manufacturing management operation in Sligo. We have commercial and support operations in Dublin and shared services in Dublin and Westport. Abbott serves the Irish market with a diverse range of healthcare products including diagnostics, medical devices and nutritionals.

COMMITMENT TO CITIZENSHIP At Abbott, we believe that innovative, responsible and sustainable business plays an important role in building a healthy, thriving society. We strive to foster economic, environmental and social wellbeing through our operations. It starts with responsible and sustainable business. Every day, people around the world depend on our products to live healthier

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lives. That’s why we run our business the right way, for the long term – for the benefit of the many people we serve. By building a more inclusive business, we aim to reach more people, in more places, than ever before. From strengthening the capacity of suppliers to creating products that address local health needs, we are always finding new opportunities to expand the positive impact of our people, products and business in communities around the world. We can’t tackle every challenge. But what we can do is address the critical issues that best match our scientific expertise, business acumen and unique resources, applying innovation and ingenuity to find the answers.

CITIZENSHIP STRATEGY Our approach to global citizenship is aligned with our strategy for business growth and grounded in several key priorities that are most important to our stakeholders and to our growth strategy.

OUR STRATEGY IN ACTION IN IRELAND Delivering Product Excellence: Abbott’s vascular manufacturing plant in Clonmel is Europe’s first recipient of the prestigious Shingo Prize, awarded to organisations that exhibit operational excellence. Improving Access: In 2014, eight Abbott experts from our diagnostics units in Longford and Sligo spent five weeks in Tanzania, volunteering their time, knowledge and skills to help train and mentor local laboratory teams. Their primary objectives: to implement an integrated IT system for patient registration and lab sample management; to train local staff to use the system; and to tighten the links between the 23 national labs and the Ministry of Health. Safeguarding the Environment: At our Cootehill manufacturing plant, we recently converted our boilers to burn natural gas rather than diesel fuel, reducing our boiler carbon emissions by 22 per cent. As this gas arrives by pipeline, a more environmentally friendly source, the need for advance ordering and storage is eliminated.

Responsible Business Practices: In Ireland, as in every other country where Abbott operates, we want to be known as a great place to work. We offer progressive work practices and innovative employee programmes that help our people reach their full potential and live healthy, well-balanced lives. Our LiveLifeWell programme inspires, engages and empowers employees to embrace a holistic approach to their physical and mental wellbeing. Strategic Philanthropy: Abbott Fund Family Science is one of our major initiatives to pique children’s interest in science and scientific careers. Primary school children, along with their parents and teachers, are taught about science and innovation through exciting experiments and activities led by Abbott scientists and engineers. Operation Discovery brings secondary students to an Abbott facility, where our scientists and engineers guide them through hands-on lab experiments. Shared Value initiative: As we explore shared value at Abbott, we seek to establish proactive partnerships that enable us to deliver tangible business value, create positive social impact at scale. InBUSINESS | Q3 2015

05/10/2015 12:44

CSR AWARDS 2015 MATER HOSPITAL FOUNDATION

Choosing a WORTHY CAUSE The health sector in Ireland is in need of support – by partnering with the Mater Hospital Foundation we could help shape the future of healthcare together.

n effective corporate social responsibility policy is increasingly becoming more and more important to companies as they gain awareness of their community and the social responsibilities within it. CSR doesn’t just benefit the partner companies and organisations – a good CSR strategy can develop employee morale, contribute to sustainable business practices as well as generate goodwill towards the company in their local community. By becoming a supporter of the Mater Hospital Foundation you will directly help to enhance patient care and life-saving projects within the hospital, boost employee morale within your company by showing

your commitment to CSR and, ultimately, strengthen your own corporate image. Choosing the healthcare sector and the Mater Hospital Foundation in particular would provide a much needed boost – while in the UK it is taken for granted that other forms of funding are a necessary and crucial part of the health system, in Ireland there is a significant requirement for investment in healthcare as the Government can only do so much. There are many different ways you can get involved.

CORPORATE SPONSORSHIP We have several high profile events and campaigns held each year that offer diverse and unique sponsorship opportunities with tangible

Breaking boundaries in healthcare with the Maurice Neligan heart and vascular theatre

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and measurable benefits. These include favourable PR for both parties concerned, positive brand association, a chance to show your company’s dedication to the local community and assistance in connecting with a targeted audience, all while supporting the largest adult hospital foundation in Ireland.

HOW YOUR SUPPORT COULD HELP Support from corporate partners can help buy essential items. For example: • Mobile Ultrasound Scanner: f39,000 • Patient Standing Aid: f11,000 • Electric bed and accessories: f4,000 • Reclining Chair: f1,000 • Oxygen Flow Meter: f120

of team spirit and peer support, the involvement of your company in our events throughout the year, and the opportunity to take part in the Adopt a Nurse programme and have a nurse come and visit your workplace.

EMPLOYEE FUNDRAISING Fundraising for a charity can be fun, simple and a great motivational tool. It suits all companies, no matter the size, and is guaranteed to help encourage, inspire and bring together your workforce. While the events are fun for staff they also show the company to be projecting a positive image to customers, staff, suppliers and the local community.

VOLUNTEERING CHARITY OF THE YEAR PARTNERSHIPS We believe that we are an ideal choice for a Charity of the Year partnership (COTY). By adopting the Mater Hospital Foundation you will be raising money to help the thousands of people who pass through the doors of one of Dublin’s busiest hospitals both locally and nationally. As part of the COTY partnership we will help to develop the relationship while ensuring to suit the needs of your company. This will include help with the planning of events, the enhancement of your company profile both locally and nationally, helping to motivate your staff and increase the sense

Here at the Mater Hospital Foundation we rely on volunteers in a variety of ways. Whether it is in the office helping out a few hours a week or selling heart badges during our two-week campaign, your help is invaluable. In return you can meet new friends, learn new skills or develop existing ones. The Mater Hospital Foundation is totally autonomous to the Mater Hospital, with a board of directors. For more information on how your company and the Mater Hospital Foundation can work together, please call us on (01) 830 3482 or email contact@materfoundation.ie

05/10/2015 12:54

CSR AWARDS 2015 PAYPAL

Supporting our People

AWARDS 2015

WINNER

& our Communities PayPal’s CSR strategy is about ensuring that the company makes a positive and lasting impact on local communities, as Louise Phelan, Vice President of Global Operations, EMEA, explains.

his is PayPal’s first time entering the Chambers Ireland CSR Awards and we were thrilled to be shortlisted in the Excellence in Workplace category. Corporate social responsibility is an intrinsic part of what we do and it’s great to see our efforts being recognised externally. To me, corporate social responsibility is about giving back to our local community, supporting local businesses, encouraging entrepreneurism and looking out for, and after, our greatest asset – our people. Our teammates decide which charities we support and they often get actively involved with the charities too. Our teammates are passionate about giving back and sharing their skills. In the past 12 months, we have contributed a142,000 to a wide range of Irish charities. Our teammates are always fundraising for different causes and many of them took part in the Age Action Ireland

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Louise Phelan, PayPal

volunteer programme that teaches computer skills to older people in our local communities. A number of our French and German speaking teammates tutored children from Saint Ultan’s Childcare in Dublin 10 in the run up to their summer exams. That shared sense of community spirit and comradery is part of what makes us a great place to work. In PayPal, our people are our greatest resource and that’s why we have a Wellness Plan that puts their wellbeing front and centre. We run annual health assessments onsite, take part in RTE’s Operation Transformation initiative, offer healthy meals in our onsite restaurants and provide access to a fully equipped gym onsite. Our healthcare partners ensure that our teammates have

access to round the clock emergency service, and we also have a maternity strategy and parental network to support our parents. Everyone deserves a break and on top of providing generous holidays we give our teammates four additional weeks paid leave every five years. It’s a great benefit that our teammates really appreciate. PayPal was once a start-up so we know how important it is to encourage and support entrepreneurs. That’s why we mentor a number of fintech start-ups. PayPal sponsors initiatives like the Coder Dojo Coolest Projects which is a fantastic event to encourage and celebrate the innovators of the future. We also support Starting Strong, which encourages more women and young people to look at entrepreneurship and technology as potential

career paths. We work all the time with small businesses and entrepreneurs to help them grow their online business and capitalise on the opportunity mobile commerce offers. Our latest service, Braintree v.zero SDK, is the ideal platform for smaller companies looking to expand into mobile payments as we offer free processing on the first a50,000 worth of transactions. Our corporate social responsibility strategy is about ensuring that PayPal makes a positive and lasting impact on our local communities. That means supporting local businesses, encouraging entrepreneurism, and rewarding and recognising our people for the fantastic work they do each and every day. InBUSINESS | Q3 2015

05/10/2015 12:46

CSR AWARDS 2015 INTEL

AWARDS 2015

WINNER

CSR: Business as Usual at Intel

Intel in Ireland has been enriching communities through volunteerism and matching grants.

education programmes is the Intel Mini Scientist which is a competition for primary school students in which they develop science related projects that are then exhibited at fairs and within their own schools. In 2014, 5,560 students from 14 different counties took part in the Mini Scientist competition.

t Intel we deliver some of the world’s most advanced technologies, but the company’s focus is not simply on the products we make – but what we can make possible. Corporate responsibility is an important part of who we are and at Intel Ireland this means respecting people and the world around us and working to deliver initiatives that enrich communities, advance environmental sustainability and support education transformation.

INTEL INVOLVED Intel Involved gives our employees the chance to give something back to the communities in which they live and work. Through the programme, employees can volunteer to help with a wide range of projects, which in the past have included teaching people how to use computer applications, environmental conservation, painting and refurbishing community buildings, assisting with youth and senior citizen groups and helping local charities. In 2014 Intel employees volunteered over 58,000 hours as part of this programme in over 220 InBUSINESS | Q3 2015

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schools, charities and nonprofit organisations across the country.

SIGNATURE CHARITY PROGRAMME Each year Intel Ireland selects two signature charities in order to give employees the opportunity to dedicate their efforts towards providing volunteer time and funds, raised through specially organised activities, to these chosen organisations. Employees then engage in a series of different activities and events throughout the year to raise awareness and funds for the signature charities – these events include the annual Intel Charity Cycle, 5km Fun Run, coffee mornings, our Golf Classic and Family Day to name a few. In 2014, Intel supported the Jack and Jill Foundation and Irish Autism Action and all funds raised from our site wide events, which amounted to over a56,000, were distributed among the two charities. For 2015,

Irish Motor Neurone Disease Association (IMNDA) and the Friends of St. Luke’s have been selected as Intel’s signature charities.

FOCUS ON EDUCATION At Intel Ireland our overall vision is to contribute towards a world-leading education system which supports a world class, knowledge economy and a cohesive, modern and open society. We have invested more than a32 million into the Irish education system over the past 25 years providing initiatives that allow students to experience and explore project-based learning linked to science and technology. We continue to engage with stakeholders across the education community and to provide local and national education programmes that include programmes for primary and secondary school students, science exhibitions, post-graduate research projects and equipment donations to schools and universities. One of our key

DELIVERING INNOVATIVE PROGRAMMES Intel Security, with employees based in Co Cork, developed a Digital Safety Ambassador programme that is a peer-led initiative aimed at empowering youths with the vocabulary and skills they need to engage a younger generation in meaningful conversation about cyber security, cyber safety and cyber ethics. Intel volunteers, with the help of Foróige and transition year students, actively engage the community with our content and training, delivering robust community youth representatives. This passes ownership of digital safety back to the community, embedding the conversation, all the while itself underpinned by support from Intel’s collective expertise. In this way young people start a peer-led conversation delivering a message of self-respect, selfprotection and pride in their digital reputation.

05/10/2015 12:46

Marine Institute Foras na Mara

Our Ocean - A Shared Resource Ár n-Aigéan - Acmhainn Comhroinnte Ireland’s National Agency for Marine Research and Innovation An Ghníomhaireacht Náisiúnta um Thaighde Mara agus Nuálaíochta

www.marine.ie

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20/08/2015 10:05

NATIONAL BROADBAND PLAN

THE PLAN TO

A COUNTRY ollowing a detailed engagement with the Irish telecommunications industry, the Government’s National Broadband Plan (NBP) was published in August 2012, which set out a roadway by which Ireland’s broadband quality and infrastructure would be radically changed. Under the NBP all Irish homes and businesses will have access to high speed broadband, regardless of their location, delivered via a two-pronged State and commercial investment. The physical build is due to begin in late 2016, and should take between three to five years to complete. Since then the Government has been working to ensure the plan’s success, introducing policy and regulatory measures in a bid to boost commercial investment in our broadband network. However, many parts of the country remain out of reach of commercial operators. This realisation led to the creation of a Steering Group to ensure the aims of the NBP are carried out, and in July 2015 a draft Intervention Strategy was published, outlining the increased scope of the Government’s ambition and seeking input from industry, stakeholders and members of the public on a series of detailed proposals. This public consultation process closed on September 25th, with sumbissions being carefully considered in advance of the finalisation of the strategy document and the opening up to tender InBUSINESS | Q3 2015

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of the NBP by the end of 2015. Those who bid for the contract must satisfy a number of conditions including: • Establishing and maintaining high standards of quality and minimum speeds • Create a future proofed infrastructure • Provide an open wholesale service to all retailers • Provide affordable and competitive services regardless of location For business, the NBP represents a significant investment. Irish businesses as a whole will gain access to broader markets and will be able to engage in e-commerce – over 70 per cent of small businesses that have participated in the Government’s Trading Online Voucher Scheme, for example, expect to recruit more staff as a result of trading online. Access to higher speeds will also improve customer response times, reduce daily running costs and upload/ download higher volumes of data, enable more workers to work remotely and has the potential to change the overall landscape of Irish business. In the following pages, we speak to the main stakeholders about their current position in the Irish broadband market, and what they could bring to the table in relation to the National Broadband Plan.

05/10/2015 12:57

NATIONAL BROADBAND PLAN eir

Connecting Ireland

to the World

We spoke with Carolan Lennon, MD, open eir about their broadband objectives and successes, and how they can raise Ireland’s status to the top of the world table.

n terms of completing objectives, 2015 represents a positive step forward for open eir and its broadband delivery strategy. September, for example, has seen the launch of 1Gbps Fibre to the Home technology, which will be dispersed throughout 66 Irish towns following a successful trial in Belcarra, Co Mayo, Wexford and Sandyford. And, although they had originally established a target of providing high speed fibre broadband to one million homes and businesses (1.6m in total), in June of this year open eir passed a figure of 1.3m – representing a a300m investment so far. The company has since announced an expansion of these plans – a large portion of the 1.6m properties will be served via Fibre to the Cabinet (which involves fibre optic cable travelling between the telephone exchange to nearby cabinets) while the extension of 300,000 rural homes and businesses will be connected by Fibre to the Home (FTTH) – high speed cable that goes directly to the

home. open eir have already deployed FTTH technology to over 26,000 premises, in towns such as Cavan, Letterkenny, Sligo and Kilkenny. “As part of the work we did in mapping the entire country in preparation to respond to the National Broadband Plan (NBP), you can see how dispersed homes and businesses are in Ireland,” says open eir’s Carolan Lennon. “You have a small town centre and then ribbon roads emerging from these towns, with houses a mile or three down the road. Fibre to the Cabinet doesn’t work there. Our analysis and trials have confirmed that a more suitable solution for rural Ireland is to bring fibre directly to the houses or businesses.

NATIONAL PLAN As one of the major players tendering for the aforementioned National Broadband Plan, eir has put significant effort and resources into developing a suitable strategy,

Carolan Lennon, open eir

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and in showing that their existing strengths could be put to good use. For example, when they reach 1.9m homes and businesses, 18,000km of fibre cable will have been rolled out across the country. In addition, open eir’s extensive network of over one million telephone poles across Ireland offers a cost effective avenue along which they can string lightweight fibre. Finally, Lennon notes that their solution would future proof the country’s broadband infrastructure, meaning that when technology catches up to higher speeds, the groundwork will already be in place, avoiding a similar scenario 20 or 30 years down the line. “By the time the tender is released, we will have passed 1.4m homes. We’re doing it, we’re the only ones out in rural Ireland,” she says. “We did our proof of concept in Belcarra, we have our solution up and running, we know it works, we have the infrastructure, and the expertise from our technicians, who really understand the network. I think we’re really well positioned.” As for the potential impact the National Broadband Plan could have, both in terms of the country’s inhabitants and its economy, Lennon remains optimistic and looks forward to seeing the results. “I believe that Ireland will go to the top of the world table in terms of the quality and the speed of broadband that is available throughout Ireland,” she says. “We could be in a situation where we are a leader, and I think that would be fantastic for us as a country. This could be a real gamechanger for Ireland, it would be great to think that broadband availability wouldn’t stop people from living or working or studying wherever they want to. I think that would be a fantastic achievement if we can pull it off.” InBUSINESS | Q3 2015

05/10/2015 12:57

NATIONAL BROADBAND PLAN eir

OPEN EIR -

Supporting the National Broadband Plan open eir’s high speed broadband trial in Belcarra, Co Mayo has proved to be a great success.

igh speed broadband offers Irish communities huge benefits – enhancing how they live, work and play. However even with rollout of high speed broadband to around 80 per cent of Irish homes and businesses, some rural areas are difficult for eir or other private operators to serve. The National Broadband Plan (NBP) is an initiative by the Government to ensure every rural home and business in Ireland can access high speed broadband of at least 30Mb/s. This initiative will be partly funded by the State. “This proposed intervention will involve an end to end strategy for the delivery of quality and reliable highspeed broadband that includes a major fibre build-out to rural areas,” according to the Department of Communications, Energy and Natural Resources.

WHAT IS EIR’S SOLUTION FOR THE NATIONAL BROADBAND PLAN (NBP)? We have conducted significant analysis of our network and believe that Fibre to the Home can be delivered to the majority of premises within the NBP footprint. Fibre to the Home involves laying high speed fibre cable all the way from the eir exchange directly into a home or business. Because the Fibre goes directly to the building, connected homes and business will be able to avail of speeds of between 100Mb/s to 1,000Mb/s. Our extensive pole network runs in large part along country InBUSINESS | Q3 2015

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In November 2014 Minister Alex White published an online map (www.broadband.gov.ie) which shows areas where the State intends to intervene to support the provision of high-speed broadband. This map is a work in progress and will be updated as the Department receive additional commercial rollout plans from operators. The Government intends for the first homes and businesses in these areas to receive service in late 2016, with the entire network to be completed by the end of 2020.

eir CEO Richard Moat and Taoiseach Enda Kenny pictured at Manulla National School, Co Mayo

roads. Deploying fibre along this network allows us to avoid large civil construction costs and make Fibre to the Home ideally suited to low density rural houses. eir recently deployed its National Broadband Solution in a town called Belcarra, situated 10km outside Castlebar. Over 150 premises have been passed, with more than 80 now live – this includes two national schools, one mart and a community centre. The network is open access, so there are a number of retail service providers offering the residents of Belcarra a choice as to who they want to give their business to. For businesses in the area, the positive effects have

already been felt. Farmers, for example, are using the service to stream live feeds from cameras that are situated in sheds throughout their land, ensuring that their livelihood is protected. When it comes to the calving season, they will be able to identify from the comfort of their own bed that heifers are calving without any difficulty, and will be immediately alerted to any problems. A number of entrepreneurs are also operating online companies from their own homes. To see how Belcarra has benefited from having access to a fibre broadband network visit www. fibrerollout.ie. Should you require further information please visit www.fibrerollout.ie or email us at fibrepower@eir.ie. In addition to Belcarra, a competition has been conducted to find the next rural trial – the closing date was September 29th and open eir received a large number of entries from islands to remote villages across the entire country, with every corner of Ireland represented. The winner of the open eir empowered competition will be announced at the end of October.

05/10/2015 12:58

enet – original and best For some, open access is the “phrase du jour”, but for enet it’s been a way of life for over a decade. Our company operates nationwide fibre infrastructure, including the State’s Metropolitan Area Networks (MANs), on a truly open access basis. Every day, we make it easier and cheaper for over 60 different telecoms carriers to offer world class broadband to over 600,000 individuals, homes and businesses across the country. The manner in which enet embraces the open access model stimulates competition and economic development – so if you want fibre and you like it open access – you know who to talk to.

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enet

Open Access Networks

05/10/2015 14:55

NATIONAL BROADBAND PLAN ENET

Investing IN IRELAND enet Chief Executive Conal Henry discusses the company’s past successes, and his thoughts on the impact of the National Broadband Plan.

reland’s largest open access network operator, enet operates within a unique position in the Irish market as a wholesale only carrier. With the second biggest fibre optic network in the country, capable of delivering cutting edge communications and information services, it provides the infrastructure from which companies including Vodafone, Magnet, BT and many others can provide a service to their own customers, while also allowing regional towns to compete on the global stage. As such, enet has since built up extensive experience in a number of areas including public sector infrastructure management, wholesale telecoms, fibre network operation and maintenance, project management, public private partnerships and more.

COUNTRYWIDE PRESENCE enet maintains a presence in every major town in Ireland as a result of the Metropolitan Area Networks (MANs), established through a State intervention strategy more than a decade ago, to address a deficit in regional telecommunications infrastructure, and to remove barriers to foreign direct investment (FDI). enet was awarded the concession to operate these networks on an open-access basis, stimulating competition, reducing bandwidth costs and accelerating Ireland’s broadband position, and has since augmented that presence with their own investment in fibre across major towns and cities, and also along the railway network. And the results speak for themselves. InBUSINESS | Q3 2015

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Conal Henry, Chief Executive, enet

“From our analysis, we could see that towns that received fibre optic MANs went from getting less than 20 per cent of new IDA jobs to over 80 per cent of these jobs in the proceeding years,” explains chief executive Conal Henry. “Our larger regional centres are now getting their fair share and beyond. There’s one town in Ireland where every single one of the IDA jobs created in the last decade are connected to the MAN.

NATIONAL BROADBAND PLAN This depth and breadth of experience has understandably prompted enet to bid for the upcoming National Broadband Plan (NBP), which has drawn interest from a number of parties within the field. The bid has also been fuelled in part by the acquisition of the company two years ago by a consortium of American investors, including Walter Scott, a main board member of Berkshire Hathaway, providing enet with the firepower to pursue the NBP.

“Having worked with the Government in telecommunications for the last decade we are firmly of the view that the State needs to be involved, and that communications infrastructure is as critical as electricity, water or roads infrastructure,” Henry emphasises. “That being the case, the question is how does the State get involved?” enet, and Henry, are of the opinion that the model that has been operating in partnership with enet for the last decade (in which the State helps to fund the networks and, in using that funding, ensures that the network is operated as competition and policy friendly as possible) is the way to go. “What you don’t want is the State to basically strengthen a privatised monopoly,” he adds. “But overriding everything is that we are fully supportive of the NBP no matter what form it takes. We think it’s the right policy at the right time done in the right way. However it gets done, it needs to get done.”

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05/10/2015 12:59

NATIONAL BROADBAND PLAN IMAGINE COMMUNICATIONSS

Bridging the

DIGITAL DIVIDE

Brian O’Donohoe, Commercial Director of Imagine Communications Group, explains how Imagine Fibre Connect technology is set to play a major role in bridging Ireland’s digital divide.

magine Communications Group’s Fibre Connect solution is the fastest, most cost effective way to deliver a 30-100Mb broadband service to regional and rural Ireland. To achieve NGA (Next Generation Access – 30Mb and over) speeds, Imagine uses FWA (Fixed Wireless Access) to connect homes and businesses to the nearest fibre point. This technology enables the greatest number of people to get access to fibre in any given area. Imagine’s FWA uses a state-of-the-art global radio standard (TD-LTE), which is increasingly used in connecting large populations around the world with broadband speeds that could only previously be made available by direct connection to expensive fibre or cable systems. To use TD-LTE effectively as a fibre connect solution to deliver such speeds requires large amounts of radio spectrum. Imagine is the largest holder of 3.5 GHz spectrum in Ireland and uses 20Mhz channels (in a 2 x 20 MHz configuration) to achieve these high speeds. Using this radio technology, speeds of over 1Gb have already been demonstrated by global technology providers like Nokia and Huawei in the US, Japan and China.

IRELAND’S DIGITAL DIVIDE Ireland has a very marked digital divide, primarily due to low population density driven by the

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Ireland’s broadband failure – Government identifies amber area as having no chance of NGA broadband

topography and ribbon development in our towns, villages and rural areas. Over 96 per cent of Ireland’s land mass is currently incapable of getting quality (or any) broadband. This area is home to over 1.8m people, includes 94 per cent of all farms and 38 per cent of Ireland’s active labour force. By any standard this is a serious and unacceptable position and the challenge to date has been to identify a commercially viable solution to fill this void. While today people may experience poor broadband in regional and rural Ireland merely as having heavily buffered (or non-existent) Netflix, the true impact is more serious with direct local economic impact coupled with social deprivation and isolation leading to accelerated migration to cities. Further, good broadband infrastructure benefits businesses where location is not a factor and this encourages rural sustainability.

CLOSING THE DIGITAL DIVIDE While fibre is an essential aspect of removing this divide, it is too expensive to deploy and operate in Ireland’s many low population density areas. To deliver NGA broadband to regional and rural Ireland within the next few years requires a flexible technology choice with extensive fibre networks using a significant amount of FWA for the ‘last mile’. If

we do not take such an approach, the harsh reality is that another generation of school children and businesses will be deprived of the basic right of broadband. This is in stark contrast to city dwellers and is a serious issue which can and should be tackled now before yet more people needlessly depart rural Ireland. Without FWA it will be many more years, if ever, before fibre connects to many homes in Ireland. The combination of Imagine’s large spectrum holding and its use of TD-LTE for FWA is of great strategic benefit in bridging the digital divide and delivering NGA level broadband to regional and rural Ireland. This solution now exists through Imagine’s Fibre Connect for a significant part of this area and the remainder can be covered quickly and economically by extending the use of this technology with the support of the proposed NBP (National Broadband Plan). Imagine’s Fibre Connect has no reliance on the dilapidated copper infrastructure of Eircom. Deployment is quick and easy on existing radio masts and an entire community can be enabled with one fibre connected base station. Connecting via Fibre Connect to the nearest available fibre point maximises existing and new fibre infrastructure by extending its reach by many kilometres beyond the physical fibre. InBUSINESS | Q3 2015

05/10/2015 13:00

NATIONAL BROADBAND PLAN DEPARTMENT OF COMMUNICATIONS, ENERGY AND NATURAL RESOURCES

The Man with

THE PLAN

InBUSINESS speaks to Minister for Communications, Energy and Natural Resources, Alex White, about the impending National Broadband Plan. Q: Could you tell us where we’re now at with the national broadband plan?

A: The National Broadband Plan was published in 2012 and since then the telecoms industry has invested over a2.5 billion in upgrading their networks. They are continuing to invest and these investments have ensured that over 1.3 million premises in Ireland today have access to high speed broadband with 1.6m expected to have access to services by the end of 2016. This compares with a position in 2010 / 2011 where only 300,000 homes in Ireland had access to high speed services, primarily through one provider (UPC). Q: How important has and will the private sector’s role be in the national broadband plan?

A: The private sector role is extremely important; they are the ones with existing infrastructure and they are the experts in the field of providing customers with services. Should the Government opt for a commercial stimulus model of ownership in the upcoming procurement process, we expect a InBUSINESS | Q3 2015

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significant a number of companies will tender for what will be extremely valuable contracts from the State.

Q: What role will broadband and technology play as part of Ireland’s economic strategy in the years ahead?

A: A future proofed reliable high speed broadband network is now as important as electricity was in the last century: • Homes and businesses are now becoming reliant on the availability of connectively to the internet to carry out day to day activities. • A national network is now believed to be a key catalyst to re-energising rural Ireland - 38 per cent of the population (1.8m) and 38 per cent of the active labour force live in the intervention area. • Quality high speed connectivity is key to promoting inward investment from multinational companies to Ireland, allowing them to recruit from a wider employment pool and provide more flexibility in terms of working from home • It will bring significant

Alex White, Minister for Communications, Energy and Natural Resources

benefits to our tourism industry, particularly in the more scenic and popular parts of Ireland where connectivity remains a challenge • Our agri industry will benefit – there are over 80,000 farms in the intervention area – that’s 94% of the farms in Ireland. • It will allow schools to deliver innovative education programmes and allow school children to work online from home. There are 1,522 schools in the intervention area. • Enterprises across Ireland will benefit – there are over 63,000 enterprises in the intervention area and 600 business parks. This is a flagship project for Government and for

Ireland. It has the potential to put Ireland to the forefront of connectivity, not just in Europe, but across the world. But it is challenging and extremely complex, with multiple stakeholders involved. It is critically important that we get it right and I have been upfront about the time it will take to deliver the entire programme. 2020 is the date by which we expect the last house to be connected, but in reality I expect up to 85 per cent of homes to be connected by 2018. That is a challenging milestone but I intend to deliver. I have likened the programme to rural electrification because it is the major infrastructure investment programme of this century and I don’t intend to have to come back to it again.

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NATIONAL BROADBAND PLAN SIRO

Next Generation

Connection Sean Atkinson, CEO SIRO, explains what’s behind the new joint venture between ESB and Vodafone. Q: Can you explain the

connection at any point in the network. The network is open access which means it is open to any telecoms retailer to deliver a service to an end customer and it will transform the telecoms landscape in Ireland.

digital divide?

A: High speed broadband is vital in promoting investment and economic growth. In Ireland, while good broadband is available in cities, regional towns are poorly served. According to ComReg, 35 per cent of the 1.25m fixed broadband connections have less than 10Mbps. Provision of high speed broadband over the past decade has been held back by a national network, over reliant on copper, which bottlenecks performance. Towns that don’t have modern communications are disadvantaged when it comes to attracting investment and jobs.

Q: What is SIRO? A: SIRO is the new ESB/ Vodafone joint venture rolling out a Fibre To The Building (FTTB) network in 50 regional Irish towns over existing electrical lines. SIRO will invest d450 million bringing internet connections (upload and download) of 1 Gbps to 500,000 Irish homes and businesses, making it different and better than any other broadband infrastructure in Ireland, with no copper InBUSINESS | Q3 2015

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Q: Why did ESB and Vodafone get involved ?

A: ESB first installed fibre optic cable on its transmission lines 15 years ago for internal communication needs. With the demand for increased speed and a continued reliance on old copper networks ESB saw a need for a new fibre network. SIRO is an innovative company which uses the ESB network in a smart way without new poles or ducts. Vodafone, as a total communications company, brings a wealth of experience from international markets including fibre broadband deployments in Portugal and Spain, and over 12m fixed broadband customers.

Minister Alex White, Taoiseach Enda Kenny and Sean Atkinson, CEO, SIRO

The roll-out is the first of its kind and our aim was to develop the best systems to be able to offer our service to all broadband retailers on a wholesale basis. kind and our aim was to develop the best systems to be able to offer our service to all broadband retailers on a wholesale basis. We would ask people in the other towns to be patient, building a brand new network does take time but it will be worth the wait.

Q: What does SIRO think Q: How are you getting on? A: Since launching in

of the National Broadband Plan (NBP)?

May we have recruited staff, contractors, built our IT systems and have successfully conducted live trials. We are on track for the first consumers on the SIRO network in November. We are building in Cavan, Dundalk and Sligo as well as our rural trial in Ratheniska. The rollout is the first of its

A: The Government has ambitious plans to deliver a minimum of 30 Mbps to all consumers while ensuring that the network is future proofed for increases in connection speeds. The ambition is appropriate – Ireland should no longer accept a second best copper based solution and fibre needs

to be at the core of any network we build. We have consulted with Government about our rollout to enable them to identify locations to be covered by the NBP.

Q: Is SIRO good for Ireland Inc?

A: Instead of investing in a network to cater for today, SIRO will future proof Ireland. It will enable a knowledge based economy and attract investment in our 50 towns. Access to 1 Gbps will transform the internet experience of SMEs, remote workers and consumers. We are very confident that SIRO will transform the broadband market and ultimately drive competition in the broadband market, which can only be a positive.

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05/10/2015 14:56

COMPANIES ACT GRANT THORNTON

Companies Act: What Businesses Need to Know Now that the Companies Act has come into force, Jillian O’Sullivan, Partner at Grant Thornton, looks at what companies and directors need to consider.

ollowing significant talk in recent years about the updating of company law in Ireland, the Companies Act 2014 came into operation on June 1st 2015. It is the largest piece of legislation Ireland has ever seen and its introduction will impact every Irish company. The private limited company is at the heart of the legislation, which is something that is long overdue considering 90 per cent of the companies registered in Ireland are private companies. The Act sets out in clear terms the duties of directors and protection for shareholders and creditors. It is a positive piece of legislation which aims to reduce red tape and bring Irish company law up to date. The Act provides for a number of new formats for registered companies and also

provides for the designation at the end of the company name to make it easily recognisable. For example, an unlimited company will now state ‘unlimited company’ or ‘UC’ at the end of its name. Now that the Act has come into force what should directors be doing? As the vast majority of companies in Ireland are private limited companies, this article focuses on the two main types of private limited company under the Act. The legislation provides for a new simplified private limited company (LTD) and a Designated Activity Company (DAC). The table below lists some of the key differences between the two new company types.

NEW LTD COMPANY MODEL (LTD)

DESIGNATED ACTIVITY COMPANY (DAC)

It may have just one director (but it must have a separate secretary if it has only one director)

It must have at least two directors

It can have between one and 149 members

It does not need to hold an AGM

It needs to hold an AGM where the company has two or more members

It has a one-document constitution which replaces the need for a memorandum and articles of association

It has a constitution document which includes a memorandum and articles of association

It will not have an objects clause because it has full unlimited capacity to carry on any legal business, subject to any restrictions in other legislation

It has a memorandum in its constitution which states the objects for which the company is incorporated

It has limited liability and has a share capital

It has limited liability and has a share capital or is a private company limited by guarantee with a share capital

Name must end in “Limited” or “Teoranta” (there is no requirement to change name for existing EPC). Can be abbreviated to LTD

Name must end in ‘Designated Activity Company’ or ‘Cuideachta Ghníomhaíochta Ainmnithe’. Can be abbreviated to DAC. (existing EPC will need to change its name and update stationery, letterheads, websites etc)

It cannot list debt securities

It can list debt securities

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The Act provides for an 18-month transition period where existing private limited companies (EPCs) can decide which entity type best suits their business and to put the necessary steps in place to ensure they have a company fit for its business purpose under the new regime. The following issues should be considered when deciding on the appropriate corporate structure: • Does my company perform a designated activity? • Is there a requirement for an objects clause? • Does my company have banking covenants restricting its activities? • Is my company a bank, insurance undertaking or credit institution? • Have members holding more than 25 per cent served notice requiring conversion to a DAC? • Does my company have listed debt? • Has my company been ordered by the High Court to become a DAC? If the answer to any of these questions is yes, a DAC is the appropriate corporate structure.

What happens if a company does nothing? If a company decides to do nothing during the transition period an EPC will be treated as a DAC and at the end of the transition period (November 30th 2016) they will automatically be converted by the Registrar of Companies to the new form LTD. On this automatic conversion, the company’s memorandum and articles of association will be redacted and replaced with a one document Constitution. For practical reasons this is not a recommended course of action as it could lead to issues for the company, such as conflicts between the existing memorandum and articles of association and new provisions under the Act. To learn more about the Companies Act 2014, please refer to our other publications at www.grantthornton.ie or contact the Grant Thornton Companies Act 2014 team at companiesact2014@ie.gt.com

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COMPANIES ACT DILLON EUSTACE

CORPORATE CONVERSION Dillon Eustace can advise on the best course of action when converting to a new form of company under the Companies Act 2014.

he Companies Act 2014 (the ‘Act’) requires all private limited companies to convert to a new form of company; typically either a designated activity company (a ‘DAC’) or a company limited by shares (an ‘LTD’). It is important to firstly consider which form of company is best suited to your company’s activities. There are many differences between a DAC and LTD which should be considered. For example, a DAC must have a twodocument constitution (to replace the current memorandum and articles of association (‘M&A’) which will include an objects clause. The objects clause limits the objects and business of the company to those listed in the constitution.

An LTD will have a one document constitution and will not have an objects clause; this means an LTD has full unlimited capacity to carry on any business, to do any act, or enter into any transaction whereas the DAC does not.

CONVERSION PROCESS >DAC The most efficient way to convert to a DAC is for the shareholders to pass an ordinary resolution adopting a new constitution to replace the existing M&A and change the company name. A DAC’s name must end in ‘designated activity company’ (as opposed to ‘limited’), therefore all uses of the company name will have to be updated.

> LTD The most efficient way to convert to an LTD is for the shareholders to pass a special resolution to adopt a new constitution replacing the existing M&A. Prior to converting to a new form company and adopting the new form constitution, you should consider any matters which may restrict the company’s ability to alter its M&A, such as a shareholder’s agreement. Dillon Eustace can advise on the best course of action for your company and assist with the conversion process in a cost efficient manner. Contact Lorcan Tiernan on +353 (0)1 673 1736 or lorcan.tiernan@dilloneustace.ie or David O’Mahony on +353 (0)1 673 1723 or david.omahony@dilloneustace.ie.

Dillon Eustace. Committed to our clients.

At Dillon Eustace we work for all types of clients including national and international corporates, banks, asset managers and insurers. We can guarantee the same level of expertise and support for the biggest of corporates and the smallest of companies. • Aircraft Leasing • Asset Management • Banking • Capital Markets • Commercial Property • Corporate Finance

• Cross Border Insurance • Debt & Investment Funds Listing • Distressed Asset Investing • General Commercial • Insolvency & Corporate Recovery • Investment Funds

• Litigation • Regulatory Compliance • Restructuring • Securitisation • Structured Finance • Tax

www.dilloneustace.ie

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05/10/2015 13:03

COMPANIES ACT EVERSHEDS

The Companies Act 2014 THREE MONTHS ON Just over three months have passed since the Companies Act 2014 came into effect. Sean Ryan, a Partner in the Corporate and Commercial Department at one of Ireland’s leading law firms, Eversheds, explains the most immediate obligation that directors of ‘existing’ private companies limited by shares should be aware of.

he first thing to note is that all ‘existing’ private companies limited by shares will cease to exist upon the expiry of 18 months from June 1st last. The most immediate obligation arises during this transition period. The Act legislates for a number of company types, including two new types of private company, a private company limited by shares (LTD) and a designated activity company (DAC). Before the expiry of the 18 month transition period, directors will need to decide whether to convert to a LTD, convert to a DAC or re-register as another company type. In addition, subject to certain exceptions, directors are obliged to prepare a new constitution for the company and deliver it to each member of the company and to the Registrar of Companies. Among the benefits of a new LTD is that it has a single document constitution, has unlimited legal capacity and requires only one director. A DAC is similar to the old private limited company in that it requires a minimum of two directors and has a two part constitution (a memorandum and articles of association). While most existing private companies limited by shares may elect to convert to a LTD, a DAC may be more attractive where there is a desire to restrict the activities of the company rather than allow it unlimited capacity. An insurance undertaking or credit institution must, however, convert to a DAC if it wishes to remain as a private InBUSINESS | Q3 2015

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Sean Ryan, Partner, Corporate and Commercial, Eversheds

company limited by shares. Directors of an existing private company limited by shares should also be aware that a potentially significant change has already occurred for them in that during the 18 month transition period (or

While most existing private companies limited by shares may elect to convert to a LTD, a DAC may be more attractive where there is a desire to restrict the activities of the company

until the existing company formally converts/re-registers), all existing private companies limited by shares must comply with the law applicable to DACs. This includes all optional provisions contained in the Act. All such optional provisions will now automatically apply unless and until they are specifically opted-out of. In addition, if your company had adopted all or any part of ‘Table A’ as its articles of association, those provisions will no longer apply to the extent that they are inconsistent with any mandatory provision of the Act. Therefore, I think the most immediate obligation of directors of existing private companies limited by shares is to consider the existing corporate structure (including deciding on which new type of company is best suited for the company’s business needs, and settling a new constitution for the company) and then take the appropriate steps to convert or reregister, as the case may be. Directors should be aware that if they take no action then the decision will be taken out of their hands in that the Act provides that on the expiry of the 18 month transition period all ‘existing’ private companies limited by shares will automatically default to a LTD. For further information, please contact your usual Eversheds contact or Sean Ryan, Partner, Corporate and Commercial on +353 1 6644207 or E: seanryan@eversheds.ie For a full list of our offices and contacts details visit eversheds.ie

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05/10/2015 13:06

Accuracy & Precision We are the only wholly Irish owned global property services firm and put you at the heart of everything we do. We promote your commercial or residential property to an Irish and international audience quickly and effectively to get you the best results.

Contact: Declan Oâ&#x20AC;&#x2122;Reilly / James Meagher 20-21 Upper Pembroke Street, Dublin 2 01 6342466 KnightFrank.ie enquiries@ie.knightfrank.com 236555 Chamber Aut 15 Knight Frank Jm.indd 1

05/10/2015 14:57

COMMERCIAL PROPERTY KNIGHT FRANK

Demand for new OFFICE SPACE TO CONTINUE Despite market concerns of oversupply, Declan O’Reilly, Director of Office Agency at Knight Frank, highlights that employment growth trends point to a shortage of new office space in the coming years.

longside factors such as labour, taxes and market access opportunities, the supply and cost of office space is one of the key factors that companies review when deciding whether to establish a presence in a city. With Dublin office letting activity in the first half of 2015 at the highest level since 2007, the absence of new construction since 2011 has resulted in a shortage of quality office accommodation. According to Declan O’Reilly, Director of Office Agency at Knight Frank, this is especially true for the city centre, where the lack of available space has led to prime grade A rents almost doubling in just three years, going from a28 per square foot (psf) in 2012 to a55 psf currently. Although the real estate development market was initially slow to respond to this strengthening demand, the continued robust pace of economic

Declan O’Reilly, Director of Office Agency, Knight Frank

InBUSINESS | Q3 2015

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Indeed, the question on everybody’s lips within the real estate industry is whether there is now too much construction planned which would result in an oversupply of space adversely affecting the market.”

growth has led to a substantial number of construction projects being announced over the past year. Indeed, the question on everybody’s lips within the real estate industry is whether there is now too much construction planned which would result in an oversupply of space adversely affecting the market. Comprehensive research undertaken by Declan and his team in Knight Frank indicate that this will not be the case. They have analysed employment trends to forecast the likely demand for office space until 2018, as the supply of new office space in the longer term is determined primarily by employment growth. The last three years have seen a strong rebound in hiring activity with employment growing by approximately 100,000 since the trough of the market of 2012. This has led to a decline in the unemployment rate from a high of 15.1 per cent in February 2012 to 9.7 per cent in July 2015. Based on the relatively conservative estimates by the Department of Finance, approximately 40,000 net new jobs in Ireland will be

created per annum between 2015 and 2018. Assuming job creation patterns follow recent historical trends, half of these jobs will be based in Dublin with a further half of these in office based roles. This indicates a need for enough office space in Dublin to accommodate an extra 40,000 workers. Using an average net employee density of 140 sq ft per person and factoring in a depreciation of the current office stock of 1 per cent per annum, this implies a requirement for approximately 7.1 million square feet over the period. Now, turning to the supply side of the equation, Knight Frank estimates a maximum delivery of new stock of just under six million square feet between 2015 and 2018. This is 1.1 million square feet behind what is required. Crucially, less than four million square feet of this is likely to be built over this time with a number of factors acting as blockages to supply including planning delays, lack of developers with sufficient expertise and funding challenges. As Declan O’Reilly points out, given that the ten-year annual letting average for offices is two million square feet, this represents less than two years’ worth of office letting activity, far too little to address the current shortage. He also reinforces the point that while the recent rate of rental inflation was partly due to a recalibration of a market that had overcorrected, the ongoing need for space cannot be denied. “Based on our research, fears regarding an oversupply of new office space to the market are overplayed, with the expected quantum of space due to be delivered below what is required if Dublin is to remain competitive in attracting the world’s leading companies,” he concludes.

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05/10/2015 14:23

A new approach to commercial property finance

Origin Capital has been established to provide an alternative to traditional funding options in the Irish commercial property market, and we are actively providing senior debt funding for investment transactions in excess of â&#x201A;Ź3m. We offer clients the opportunity to deal directly with the decision makers, who take a flexible approach to lending, grounded in commercial common sense.

If you are planning to purchase or refinance commercial property assets, talk to us today to find out how we can help.

W: origincapital.ie T: 01 662 9264 E: info@origincapital.ie

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05/10/2015 14:58

COMMERCIAL PROPERTY ORIGIN CAPITAL

Introducing

ORIGIN CAPITAL Ross Metcalfe, CEO of Origin Capital, a new player in the commercial real estate financing market, speaks about the company’s origins, services and what differentiates them from the competition. Q: Tell us a bit about Origin Capital.

A: Origin Capital was established in April 2015 and we are actively providing senior debt commercial property finance for investment deals between a3m and a20m, lending up to 80 per cent LTV. The company is a joint venture between LeBruin, a leading provider of corporate finance and debt advisory solutions, and certain investment funds managed by Tricadia Capital Management, LLC, a New York-based investment firm with approximately $4bn in assets under management. Q: Why was Origin Capital

Ross Metcalfe, CEO of Origin Capital

with the progress to date, which has exceeded our expectations. While it takes time to develop a new business, we’ve seen very high demand for financing so far. In the first six months we’ve credit approved and signed term sheets for a75m, and seen our first deals through to completion. We’ve also increased staff numbers to meet the increasing demand, most recently with the hiring

We cut out bureaucracy as much as possible to deliver quicker results for our clients, whilst still placing importance on due process

established?

A: The company was established to meet the growing demand for the provision of commercial real estate finance in the Irish market. Currently, there are a limited number of funding options available within the CRE investment market, and we are providing a genuine alternative to existing lenders.

Q: What type of business activity do you engage in?

focus on providing the best offering within these sectors, we do not currently provide funding for development transactions. Our clients are typically professional property investors who are seeking attractive investment funding options and the ability to work closely with decision makers who have strong market knowledge and a commitment to providing exceptional service.

A: We fund senior debt transactions in the CRE investment and residential sectors. In order to InBUSINESS | Q3 2015

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Q: How have the first few months gone?

A: We’re very pleased

of a dedicated business development manager to grow the new business pipeline.

Q: What makes Origin Capital different from other players in the market?

A: We aim to differentiate ourselves in three key areas. Firstly, we offer clients the opportunity to deal directly with the decision makers, rather than having to go through several time-consuming levels of approval. Secondly, we appraise potential deals solely

on their commercial merits, unlike many other lenders who have a range of broader factors to consider (including often restrictive internal policies). Finally, we cut out bureaucracy as much as possible to deliver quicker results for our clients, whilst still placing importance on due process. For example, in one recent deal, we had a completed loan drawdown within one month of the initial meeting with the client.

Q: What’s next for Origin Capital?

A: We’re keen to grow the business as much as possible. We expect to finalise a further a50m of lending in the next month alone, and are launching further marketing and business development initiatives to increase awareness of what we offer. Finally, we’re in advanced negotiations with investors to secure a further tranche of funding to enable us to significantly increase our lending activity in the next 6-12 months. To find out more about Origin Capital visit www.origincapital.ie

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COMMERCIAL PROPERTY ALLSOP

ALLSOP: Leading the way for

property investment in Ireland

llsop is an independent property consultancy based in Dublin with a marketleading reputation for high quality service and integrity. Since the launch of Allsop in Ireland in 2011, property transactions have reached over a633 million. Allsop delivers market knowledge, expertise and fully transparent sales processes to the Irish property market. With access to 62,000 registered investors in Ireland and an average of 150,000 web hits per month viewed in over 180 countries, Allsop are well placed to achieve best price for their clients. In the last 12 months Allsop has noted a steady growth in commercial property sales particularly for income

producing properties in the retail and office sectors located in Dublin and other urban locations. Already in 2015 they have sold over a70 million worth of commercial properties including a Georgian office building with potential for residential conversion on Lesson Street; two modern office buildings in Moyvalley, Ballina; and 15 industrial retail units located in Dublin, Galway, Monaghan and Westmeath. Allsop also observed strong interest in residential investment in multi-unit properties and residential developments. Notable transactions include 10 townhouses in a modern development off Clanbrassil Street; 46 houses in a development in

Dingle; apartment blocks in Dublin 1, Temple Bar, Darty, Malahide and Dundrum; and a complete student development in Castletroy, Limerick all valued in excess of a1m. Innovation is at the heart of Allsop’s activities as seen in the launch this year of the Allsop Online Auction – the world’s first binding, fully online bidding platform. Two online auctions have taken place resulting in 100 properties sold totalling almost a14m. The next Allsop online auction will take place in October. Full details can be found on our website. To find out more about Allsop and the properties for sale, go to allsopireland.ie

The Allsop Ireland Online Property Auction. Property right on the button. At Allsop we have created a groundbreaking way to buy property with our Online Property Auctions. • Transparent & secure process - full bidding history displayed • Legally binding sales • Independently verified • Easy to use wherever you are in the world • 2015 so far: 103 properties sold with a total investment of over €13m

Visit allsopireland.ie for future online auction dates.

Discover more Call +353(0)1 667 3388 Visit allsopireland.ie

PSRA Registration No. 001652. All properties for sale by auction unless previously withdrawn or sold prior.

D5972 Allsop Online Auction Advert 236773_2L_Allsop_ALS_IB.indd 1 188 wide x 130 high AUG 2015 FINAL.indd 1

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14/08/2015 17:16 12:47 18/08/2015

05/10/2015 14:22

COMMERCIAL PROPERTY CBRE IRELAND

Office Development in Dublin:

FEAST OR FAMINE? Marie Hunt, Executive Director & Head of Research, CBRE Ireland, assesses the current state and future prospects for the commercial property market in the capital.

lthough we have spent the last few years lamenting the scarcity of prime office accommodation in Dublin city centre to meet occupier requirements, ironically over the last few months, there has been increased speculation about the potential for oversupply to occur as we approach the end of the decade. Much of this concern is fuelled by an increase in the number of projects commencing construction and widespread coverage of schemes that are now entering the planning process. While the volume of new office construction slowed considerably across Europe over the last number of years in line with weaker economic conditions, Ireland was a notable outlier in that we built no office stock at all for more than five years. The lack of office development after 2010 is despite recording strong volumes of take-up each year regardless of the weak economic backdrop as Foreign Direct Investment (FDI) continued to materialise in the Irish market on the back of the country’s 12.5 per cent corporation tax rate. There are a variety of reasons why office development ceased so dramatically in the Irish market, most notably a scarcity of bank funding to support new development but primarily due to the fact that prime office rents fell by more than 50 per cent following the economic crash rendering office development completely unfeasible. In fact, despite it being glaringly obvious that the capital city was facing a severe undersupply of Grade A accommodation in prime locations such as Dublin 2 and Dublin 4 which combined comprise the city’s Central Business District (CBD), it was only InBUSINESS | Q3 2015

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Source: CBRE Research

when prime Dublin office rents rose to more than a40 per square foot during 2014 that developers again began to contemplate dusting down plans for new office schemes. Architects and planners were appointed and development teams began formulating plans for new office schemes. It is many of these projects that are now commencing construction. However, although there are now a total of 19 office schemes under construction in Dublin, the new accommodation these schemes will provide amounts to just over one year’s annual average take-up in the capital and approximately 45 per cent of this new accommodation is already committed with pre-lettings becoming more evident. Although there is an increased focus on office development, which is welcome, it will be 2017 before there is a meaningful improvement in the supply of modern office accommodation and rents will inevitably continue to rise in the interim from current rates of a52.50 per square foot to close to a69 per square foot over the next two-year period.

There has been considerable activity in the development sector over recent months with several new office schemes entering the planning process, others being granted planning and others commencing construction. This has led some commentators to suggest that there is potential for oversupply in the Dublin market after 2018. Certainly if every scheme that is currently in the planning process were to commence construction at the same time, this is certainly a threat. However, delivery dates of new schemes will depend on the pace at which schemes progress through the planning process and more importantly if these schemes can subsequently obtain development funding. The likelihood is that many financial institutions will refuse to release development funding until such time as pre-lettings have been agreed in advance, which will obviously delay commencement and delivery dates considerably. We need to ensure that supply is provided on a controlled basis to avoid creating a feast after the famine we have lived through since 2011.

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IB SURVEY BOI PAYMENT ACCEPTANCE

Partner in

PAYMENTS We spoke with Brian Cleary, General Manager of BOI Payment Acceptance, about the challenges and successes they have experienced in the Irish market. Q: Tell us about your business? A: BOI Payment Acceptance is a new cards payments business that began trading this year. We are a marketing alliance between EVO Payments International, a leading North American payments company, and Bank of Ireland. We offer online and retail card payments solutions into all sectors and we have just recently entered the NI and UK markets. The bank had a ten-year deal with another supplier – that came up for renewal last year and EVO impressed the Bank with their ambitions for European expansion and their plans for a new approach in the Irish market.

Q: What has been your biggest challenge? A: Probably trying to dispel the perception that card payments are costly and complex. There is a lot of negativity about merchant services in some quarters because of complex billing structures, hidden fees, poor service and so on. So trying to relay the message that we really are offering something different has been an

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interesting challenge and one we have been happy to accept. And the fact that almost half of our customers are new to cards is a sure sign we are winning that battle.

Q: What sets BOI Payment Acceptance apart in your sector? A: BOI Payment Acceptance are unique in the market particularly in our approach to pricing. We are the only provider offering fixed price plans – starting at 541.99 per month (VAT included), which includes terminal rental and also 52,000 worth of cards spend. We also have our own team of field engineers who conduct onsite installation and training for all customers. Lastly, our customer service team is based here in Dublin and we offer excellent after sales service. All combined this is a unique offering in the Irish market.

Q: What are the latest developments in the world of card payments? A: The thing that most excites me in the short term is the increase in the transaction limit for contactless transactions from a15 to a30 at

the end of October. Almost 90 per cent of all Irish consumers have a contactless debit card in their wallet and both merchant and consumer awareness is growing all the time. With the increase to a30 it really extends the opportunities and my prediction is that contactless usage is going to hit the inflection point and really take off in 2016.

Q: How do you see the medium-long term future for BOI Payment Acceptance?

Pictured at the opening of the first Freshii store in Ireland are Brian Cleary from BOIPA with Dave O’Donoghue and Cormac Manning

A: We are only getting started. In particular SME businesses in the Irish market have been poorly served and are now clearly responding to that in our offering. In partnership with Bank of Ireland we want to drive far greater migration of businesses from cash to cards payment acceptance. And we will be working with trade bodies and other partners to amplify our growth amongst those customers already accepting card payments. In short, the market for electronic payments is going to grow exponentially over the coming years and so too will our share of it.

Q: Finally, why should businesses consider moving to BOI Payment Acceptance? A: We are the only provider in the market not charging hidden fees. We offer great value from a41.99 per month including VAT, card spend and terminal rental. Finally, we truly pride ourselves on customer service and this is reflected in our high customer satisfaction scores. Our own engineers will install the terminal and train merchant staff and our Dublin based customer service team will answer the phone should there be a customer service query. InBUSINESS | Q3 2015

05/10/2015 14:27

IB SURVEY ŠKODA

The Superb SKODA Skoda’s new Superb has reached Irish shores. And it’s proving to be quite the hit.

he new Škoda Superb was one of the big stars at this year’s Geneva Motor Show and the third generation of the model is now available in Ireland with prices starting from a26,795. The brand’s new flagship is, according to the brand, the best Škoda of all time and features emotive design, the most room of any vehicle in its segment, and innovative MQB technology from the Volkswagen Group. The previous version was a favourite among Irish buyers with over 1,150 sold in Ireland last year. The new vehicle differentiates itself from the previous version with a new dynamic appearance but still maintains its cavernous proportions and functionality, and remains the best in class in terms of legroom and luggage space. The new model is 28mm longer and has an 80mm longer wheelbase, as well as an impressive saloon luggage capacity that has increased to 625L, with the new Combi model due to arrive in September 2015.

TECHNOLOGY The new Superb has reached a new dimension in terms of technology. For the first time in a Škoda, the vehicle features Dynamic Chassis Control (DCC), including drive profile selection. Alongside this there is a brand new airconditioning system, including threezone climate control. Also available is a panoramic roof, heated seats, a virtual pedal to open the electronic boot, parking assist, park distance control and a new rear camera. The original Superb back in 2001 was famed for the storage compartment with umbrella. InBUSINESS | Q3 2015

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The new Superb now comes with two umbrellas with new compartments neatly tucked away in the front doors.

BENEATH THE BONNET The new Škoda Superb also boasts record values in consumption and emissions. All engines in the new Superb are turbocharged and EU6 compliant, with five new petrol and three TDI common rail diesel engines added to the line up. The most popular version in Ireland is expected to be the 1.6 TDI 120bhp that boasts 14 per cent more power and 13 per cent improved fuel economy when compared with the outgoing unit. There is a 15 per cent improvement in fuel economy on two new 2.0 TDI units that have been introduced with 150bhp and 190bhp. New transmissions have also been introduced including a new 7-speed DSG for the smaller diesel derivative and 6-speed DSG that can also be combined with 4x4 transmissions if one desires. A high performance 2.0 TSI, 4x4 with 6-speed DSG replaces the normally aspirated 3.6 V6 that was offered previously. There are three specifications from launch; Active, Ambition and Style, and a premium L&K model is expected at a later date. Pricing for the petrol models start

 Prices for the 1.4 TSI start from a26,795  Prices for the 1.6 TDI start from a27,795  Three trim levels - Active, Ambition and Style  8 0mm longer wheelbase, 625-litres of luggage space, 75 kg lighter  1.6 TDI 120bhp boasts 14% more power and 13% improved fuel economy

from f26,795, with diesel prices starting from f27,795. “The new Superb is arriving just in time for the 152 plate. The car is exceptional in every way and really needs to be test-driven to be appreciated. The car is 75kg lighter than the previous version and when combined with improved aerodynamics ensures the new Superb has superior acceleration, fuel efficiency and emissions than the outgoing car,” said John Donegan, Brand Director of Škoda. “We are already receiving queries from prospective fleet buyers for this vehicle which we are working hard to fulfil for July. Customers can also avail of our exceptional PCP Finance packages with rates starting from just 3.9 per cent APR and monthly payments from a289.”

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IB SURVEY HSS HIRE

The biggest is getting

BIGGER!

Big expansions plans are on the cards for Ireland’s biggest plant hire group HSS Laois Hire.

SS Laois Hire Group is Ireland’s largest rental firm with outlets in every city and quite a few towns across the island, and is the most well established plant hire brand throughout Ireland and UK. An award-winning tool and equipment hire company, the HSS/Laois Hire Group provides a complete equipment management and hire service to big businesses, trade and DIY customers since 1957. As the only nationwide hire company, HSS/Laois Hire Group has an established network of 24 hire branches and super centres across Ireland and has recently launched two new branches in Ballymena and Galway. In addition, the company says it plans to open a further seven branches this year. Having such a large network of depots nationwide makes smooth, commercial and financial sense for BAM Construction’s Plant Purchasing Manager Brian Behan. “It’s a huge benefit. Wherever we are they’re within a stone’s throw,” he says, adding that, in a business where safety is paramount, “HSS Hire Service Group is second to none”.

INVESTING IN THE FLEET Michael Killeen, Managing Director, HSS Hire Ireland, Scotland and Isle of Man and the Laois Hire Group says it’s all about giving the customers what they want. “We have consistently invested heavily in our fleet, even during the recession years, in order to maintain a modern up to date fleet and to ensure our customers receive excellent service throughout Ireland,” he explains. The HSS/Laois Hire Group focuses primarily on safety, availability, value and support; working with their customer base

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Michael Killeen, Managing Director, Laois Hire and HSS Hire Group Ireland and Scotland

to help keep their businesses working safely and efficiently whilst driving down their costs. The group also includes a leading training company to ensure customers and their workforce are fully compliant and safe.

GROWTH AND CONTINUED INVESTMENT In February of this year the HSS Hire Group plc was listed on the London Stock Exchange. “This was a major achievement for the company and puts us in a very strong position to invest in the business on an ongoing basis,” states Killeen. The significant acquisition of Mobile Traffic Solutions, as well as the rolling out of HSS Power has enabled the company to establish the title of leading specialist tool and equipment Hire Company in Ireland. The company has also established a comprehensive Powered Access Division in the Dublin Greenogue Business Park. Michael Killeen points out that the company is made up of a number of different sectors under the one umbrella, catering for everything from training, cleaning equipment services, powered access, power, plant, portable sanitation hire to VMS boards and vast expertise in cleanroom environments. Killeen highlights the company’s

Pictured at the announcement of Laois Hire’s new Selwood agency win for Ireland are Keith McCann, Manager, Laois Hire Ireland Pump Division; Paul Mann, Director Client Services, Selwood and Michael Killeen, Managing Director, Laois Hire and HSS Hire Group Ireland and Scotland

capability to “supply everything from the start of a site to the finish of a site.” Over the past four to five years, HSS Hire has also specialised in cleanroom environments, working on all major projects in Ireland, including those of international high tech organisations. HSS Ireland is renowned for the provision of cleanroom standard powered access; ladders; scaffold; and aluminium towers. It supplies class one, class ten and below cleanrooms with an overall area of up to 12,000 square metres.

FURTHER SUCCESS Galway native Michael Killeen has taken the group to new heights in terms of its business turnover, market share and international standing. By working closely with customers, providing them with a first class service at competitive prices and offering innovative hire solutions, Killeen and the HSS Laois Hire team seem to have hit on a winning formula. “Success for a hire company is all about continually adapting to the needs of the customer with the aim of providing a one-stop shop for hire needs across all industries with innovative solutions,” concludes Killeen. “At HSS Laois Hire we firmly believe that we can provide an unrivalled hire experience.” InBUSINESS | Q3 2015

05/10/2015 14:20

IB SURVEY DHL

DHL –

Great is in the Detail Bernard McCarthy, Managing Director of DHL Express in Ireland, reflects on DHL’s important behindthe-scenes role for Rugby World Cup 2015.

s official logistics partner of Rugby World Cup 2015, at DHL we’re working hard to deliver tournament and team equipment from around the world. It’s a massive behindthe-scenes effort to deliver this year’s biggest international sporting event. After the huge success of Rugby World Cup 2011 in New Zealand, it was only natural that DHL would line up again to help deliver the sport’s global showpiece to millions of enthralled fans across the planet. Just like the 20 participating teams in England this year, DHL intend to make a similar impact at Rugby World Cup 2015. With an estimated 1,000 linehaul movements planned on the DHL network for Rugby World Cup 2015, it is imperative that we ensure the last 18 months of preparation is executed well and on time. As the world’s leading logistics provider, DHL has a wide range of rugby partnerships from grassroots level to the professional game in some of the world’s most rugby-crazed nations. At a local level here in Ireland, we have a long-standing partnership with the IRFU as their official logistics provider and with Rugby World Cup 2015 fast approaching, we are engaging even further with the IRFU to deliver Rugby World Cup 2015 to the local clubs and schools around the nation. This local grassroots initiative will see each local rugby club receive a special DHL and IRFU pack containing various Rugby World Cup 2015 supporter items. At DHL we are providing a comprehensive range of logistics services before, during and after the six-week InBUSINESS | Q3 2015

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Bernard McCarthy, Managing Director of DHL Express Ireland

tournament, including handling the teams’ equipment, stadium infrastructure and fit out, volunteer uniforms and international ticket distribution to name but a few. Our main job will be transporting the equipment for each of the 20 teams participating. Each international rugby team will on average travel with approximately four tonnes of equipment. Material such as scrum machines, tackle bags, ice baths and balls will be picked up from their

country of origin and brought into the UK. Once the team equipment is in the UK, it will then be moved across the 89 team base locations, often overnight. We support the teams by following them and ensuring that their equipment is made readily available to them, as they move from one location to the other. The cargo is critical. Without it, they can’t train or prep for a game. DHL will also supply each team with a kit van for the duration of the tournament enabling them to shuttle smaller items to each venue and training location. However, despite the meticulous planning and detail, the reality is that the project will evolve in real time. The biggest challenge will be to expect the unexpected. We need to plan, but we also know that we will have to adapt as circumstances warrant. On a local level here in Ireland, we know we need to provide the Irish team’s equipment in the pristine condition they need it and on the right day and time needed, so that the players can just worry about playing the game on the pitch and not about anything else.

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IB SURVEY POWERSCOURT HOTEL

On Course for A STRONG YEAR With high occupancy levels and continued investment in its services since changing hands in 2013, Powerscourt Hotel Resort & Spa has positioned itself as one of the top luxury resorts in Ireland.

lmost two years on from its change of ownership and a major rebrand, Powerscourt Hotel Resort & Spa in Enniskerry is well placed within an industry that’s building momentum. The 200-room property has invested significant resources in creating a new and attractive customer experience, the success of which is being shown by a strong trading performance in 2015. It’s been a difficult few years for the hospitality sector, particularly for luxury hotels, which were in abundance during the Celtic Tiger years. However, there has been a marked improvement in the hotel industry as the economy picks up again, something recognised by Powerscourt Hotel’s General Manager David Webster. Additionally, he’s been encouraged by the feedback he’s received regarding the hotel’s rebrand, reflecting what was a positive and necessary move. “It has been received really well,” he says. “The uncertainty that was around the property two years ago has completely disappeared. Bookings are strong.” Investing heavily in its services has been at the heart of the hotel’s strategy. One such investment is the installation of a new IT system, which connects the hotel with its neighbouring golf course, enabling guests to charge meals at the club or rounds of golf to their hotel rooms rather than having to pay separate bills. The new system also provides high-speed internet for the hotel

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guests. “We’ve invested in our broadband capability to deliver quality wifi for free,” says Webster. “It’s so important for people to have that seamless, high-speed connection these days. We could have 600 people all streaming from one Powerscourt Hotel Resort & Spa network without any problem.” Powerscourt’s biggest market is its conference and events, taking bookings domestically and internationally. These attract a lot of businesspeople from the UK and US, some who are attending small boardroom meetings and others who are there for large conferences who end up staying a number of nights at the hotel. “It’s our main business,” says Webster. “We have a salesperson who has been in the US for the past few weeks. We have another staff member who has been in the UK for the past month so we are travelling the world to bring large and mediumsized events to Enniskerry.” Located on the famous Powerscourt Estate, the hotel is just an hour’s drive from the capital which makes it an even more attractive destination for those flying in to Dublin Airport who want to escape the city chaos. Whether a visitor is in search of a pampering spa weekend with friends, a few rounds of golf on the fairways, a fine dining experience, or simply travelling for business, Webster and his team have built a unique product that places the customer experience at the

David Webster, General Manager, Powerscourt Hotel

heart of everything they do. “Powerscourt has all the ingredients to be the most successful and luxurious resort in Ireland in terms of the product, location and setting,” says Webster. “We’ve created a brand that’s been really good in terms of changing the cost base, driving the revenues and establishing a new warm and friendly five-star luxury culture.” And it seems that the job is not quite complete. Powerscourt will continue to build on what it has achieved in the short period since its major rebrand. “A lot done, more to do,” says Webster. “There’s still so much opportunity for this place.” InBUSINESS | Q3 2015

05/10/2015 14:20

IB SURVEY GLENSTAL ABBEY

Education on a Human Scale

at Glenstal Abbey School Limerick’s Glenstal Abbey School offers a creative and academic-driven experience that allows your child to reach their potential.

ituated in Co Limerick, in the heart of Munster, Glenstal Abbey School is a small independent secondary school offering education on a human scale. In line with the clear policy and academic vision of the school there are approximately 240 students divided into small classes of between 12 and 16 students. Glenstal offers both boarding and day boarding to boys aged 12 to 18. Glenstal is a Catholic school but welcomes students from all traditions, seeing itself as a partner with parents in the forming and nurturing of its students. In a climate of learning, each child is encouraged to fulfil their potential. The school’s ethos is grounded in values of reverence, respect and responsibility drawn from the monastic tradition. “Everyone of us is gifted, we just have to know how to release that gift,” says Abbot Mark Patrick Hederman. Glenstal continually strives to enable their students to flourish at each stage of their development. Transition Year is one part of the journey. The Transition

InBUSINESS | Q3 2015

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Year programme (TY) in Glenstal Abbey School offers a wide range of opportunities for students to learn and mature. The TY programme acts as an effective and original bridge between the Junior Cycle and the Leaving Certificate. We structure the year clearly and have high expectations of what students can and should achieve. The purpose of this year, and indeed the whole educational project here, is to help students to flourish. The monastic values of the monastery and school underpin this special year. Students learn discretion, freedom, gentleness and self-control. Transition year offers an opportunity to engage the whole person and this is of benefit to students not merely for their leaving certificate examination but for life. The residential nature of the learning in Glenstal offers students an opportunity to learn in several different ways. Whether it is in the experience of studying overseas

for two months to improve their modern European languages, real world experience in the workplace, or through the various academic programmes designed to foster independent thinking skills. Transition Year is an integral part of the Glenstal educational experience. Education is provided in a small class and study group environment in line with providing education on a human scale. We are very proud of the achievements of our students in this special year and thereafter. The school believes strongly in the educational benefits of this experience. If you are interested in learning more about what Glenstal Abbey School has to offer your son please get in touch with our admissions department. Phone +353 (0) 61 621 044, email admissions@glenstal.com or visit www.glenstal.com for further information.

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IB SURVEY RENAULT

Start living with the

ALL-NEW RENAULT KADJAR The All-New Renault Kadjar looks set to redefine the C-segment market.

With a range of fuelefficient engines available, the All-New Renault Kadjar delivers optimum consumption and low CO2 emissions that are best-in-class.

fter much anticipation, the AllNew Renault Kadjar is available to order now from dealerships nationwide. Boasting category leading efficiency in terms of performance and cost, it looks set to redefine the C-segment in more ways than one.

BEST RESALE VALUES The latest figures reveal that the All-New Renault Kadjar has resale values that are amongst the best-in-class.

COMPETITIVE PRICING In addition to the fantastic resale value, the All-New Renault Kadjar is competitively priced, starting from just 24,990 or from 249 per month with Renault Finance (Renault’s own bank).

COST EFFICIENT With a range of fuel-efficient engines available, the All-New Renault Kadjar delivers optimum consumption and low CO2 emissions that are best-inclass. Impressively, four models from the range have a CO2 rating of less than 100g/km.

LATEST TECHNOLOGY Thanks to Renault’s new R-Link 2 multimedia system, the All-New Renault Kadjar is available with a full menu of interactive driving aids (standard or option depending on version) to help city, highway and country drivers.

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Drivers can make use of: • Hands Free Parking • Active Emergency Braking • Traffic Sign Recognition • Blind Spot Warning • Lane Departure Warning • Automatic High/Low Beams All of these cutting-edge features are controlled via an ultra-modern digital dashboard, which has been streamlined into an elegantly simple touchscreen.

EFFORTLESSLY ADAPTABLE Perfectly comfortable in an urban setting or when exploring the great outdoors, the All-New Renault Kadjar boasts highly-tuned versatility, effortlessly switching between 4x2 and 4x4 modes,

making it your ideal companion whatever the environment. That means you can rest assured it’ll be there for you in all aspects; from your next business meeting to your next great adventure.

SUPERIOR DESIGN With its compact dimensions and high rooﬂine, the All-New Renault Kadjar makes for an easily manoeuvrable town car, with a focus on driving enjoyment and comfort, all whilst keeping its sleek athletic profile. Maintaining its outstanding design throughout, the cabin also features high-quality materials, plus the latest technology for advanced connectivity, combining superior luxury with a true sense of adventure. InBUSINESS | Q3 2015

05/10/2015 14:19

IB SURVEY RENAULT

EXTENSIVE CHOICE This five-door C-segment crossover is being offered in a 15-version line-up, based on three engines, two gearboxes, two drive systems and four trim lines. The engines available include the 1.2-litre turbocharged TCe 130hp four-cylinder direct-injection petrol unit, the 1.5-litre ENERGY dCi 110hp four-cylinder diesel and the 1.6-litre ENERGY dCi four-cylinder 130hp diesel. An efficient dual clutch (EDC) automatic gearbox is available with the dCi 110 engine, meanwhile the dCi 130 comes with intelligent four-wheel drive, with three operating modes. The All-New Renault Kadjar is available in four trim levels: InBUSINESS | Q3 2015

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Expression+, Dynamique Nav, Dynamique S Nav and Signature Nav.

COMPREHENSIVE WARRANTY As with all Renaults, customer peace of mind is reinforced by the comprehensive 5 years warranty and roadside assistance, which comes as standard. This provides a 5 year/200,000km manufacturer’s warranty as standard and roadside assistance cover through AA.

FIND OUT MORE To find out more about the All-New Renault Kadjar, visit Renault.ie or your local Renault dealer to book a test drive today.

MODEL SHOWN: • Kadjar Signature Nav 1.5 dCi RRP a29,290. Price excludes metallic paint, delivery and dealer related charges. Maximum recommended delivery charge a725. • Finance Example: Kadjar Expression+ RRP a24,990. Deposit a8,359. Term 36 monthly payments of a249. APR 6.9% Total cost of credit a2,779 inc doc & completion fee a75 each. Optional final payment a10,296. Excess mileage plus excess wear and tear charges may apply upon return of vehicle. Offer is made under a hire purchase agreement. Subject to lending criteria. Terms and conditions apply [Warning: You will not own these goods until the final payment is made].

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05/10/2015 14:19

IB SURVEY MICROFINANCE IRELAND

UNDER THE MICROSCOPE Microfinance Ireland’s performance is having a positive impact on enterprise and jobs, according to a Government report.

icrofinance Ireland, a not-for-profit, microenterprise lender was recently subject to a Government performance based review carried out by the Department of Jobs, Enterprise and Innovation. The review stated that Microfinance Ireland’s (MFI) performance is now having a significant positive impact on enterprise and job creation in Ireland. “The review confirmed we were fit for purpose and concluded that we are now contributing significantly to enterprise and economic development,” says MFI’s CEO Michael Johnson. MFI was established in

October 2012 to administer the Microenterprise Loan Scheme under the Government’s Action Plan for Jobs. Although MFI offers interest bearing loans like a bank, there are a few key differences. MFI operates on a not-for-profit basis and only lends to microenterprises with less than 10 employees which have under a2 million in turnover and on the balance sheet. Microenterprises represent 90 per cent of all businesses in Ireland. The goal of MFI is not to compete with the banks but to assist those who may find it difficult to access credit through the banks. Up to now, all of MFI’s customers required a bank decline before

applying for a loan. One of the recommendations of the review was that this should be removed. “People are really devastated when they get rejected and need to have their journey made easier,” says Johnson. “Many people are so dispirited after rejection that they abandon their plans and dreams.” This will no longer be a necessity under the proposed changes in legislation and MFI are convinced this will lead to more businesses and jobs being created. Other recommendations in the report included a call for more cooperation from the banks to actively refer customers who may not meet their criteria to Microfinance Ireland.

Are you having difficulty accessing credit for your small business?

Microfinance Ireland offer loans of up to €25,000 to start-up and existing businesses with fewer than 10 employees

Contact us today on (01) 2601007 info@microfinanceireland.ie This financing benefits from a guarantee issued under the ‘European Progress Microfinance Facility’ established by the European Union

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09/10/2015 13:11

IB SURVEY STEP EX

Back with

A BANG DataCentres Ireland returns for the fourth year running and will again include Cloud & IT Security.

n terms of the international data centre market, Ireland punches above its weight being host to nine out of the top ten world leading IT companies, many of whom are looking to base their data centres there. Global companies such as Google, LinkedIn, Apple and Facebook have recently selected Ireland to be their base for a data centre, thus securing the country with a number of significantly sized carrier neutral co-location data centres. DataCentres Ireland returns to the RDS on November 10th and 11th 2015. This is the country’s largest and most attended event for all those involved in creating and managing the infrastructure requirements for data centres, server and comms rooms. It combines a dedicated exhibition with an adjacent multistreamed conference. This is a unique opportunity for those based in Ireland and abroad to network with peers, listen to new ideas, understand the latest approaches and get the latest information which can increase the resilience of their operation, whilst improving their efficiency and thus contributing to their bottom line... whether that be for data centres, server or comms rooms. The conference features local and international speakers, addressing issues related to power, sustainability, resilience, security, cooling and cabling. It also has the latest in best practice and new technologies, with an extensive exhibitor list that includes BT Communications Ireland, CBRE, Vincent Byrne Consulting, GE Critical Power, Industry & Business magazine, Starline, Vcloud.ie and many more. InBUSINESS | Q3 2015

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* SPEAKERS INCLUDE: • Peter Gross, Vice President, Mission Critical Systems, Bloom Energy • Barry Rhodes, CEO, Inex, Chair/ Facilitator for Strategy Stream • Jerry Sweeney, MD, Cork Internet Exchange, Panellist for Strategy Stream • Robert Tozer, CEO, Operational Intelligence • Doug Cunningham, CEO, IrelandFrance Subsea Cable Limited

• What are the choices and issues you need to think about when migrating to the cloud • The financial implications • Choosing which cloud service is right for your business. Does one size fit all? • Security and the cloud • Where’s my data? • Future cloud technology • Virtualisation and storage • Big Data

COMPUTING IN THE CLOUD The Cloud & IT Security Ireland show within show feature is designed to address the needs of organisations who have or are considering migrating some or all of their IT needs to the cloud. The Cloud & IT Security Ireland exhibition offers visitors a chance to meet a range of companies who can assist them in creating the right solution for their company’s specific aims and needs. The conference delivers practical information and advice on the opportunities, choices, business arguments, issues, software, technology and solutions available. Utilising a combination of end user case studies, interactive panel discussions, specialist/technical papers and the experience from experts and peers, the conference will give independent advice, demonstrate best practice and discuss the various options available (now and in the future). Themes to be addressed at the conference will include the following:

SPEAKERS WILL INCLUDE: • P aul C Dwyer, CEP, Cyber Risk International • Simon McGarr of McGarr Solicitors • BT Communications Ireland • CloudCIX • Vcloud, Tim Cathill & Gunter Bayer Cloud & IT Security benefits from being co-located with DataCentres Ireland – the leading event in the sector. This means that exhibitors to Cloud & IT Security will have access to an additional 1,000+ attendees, of whom over 50 per cent stated that they were interested in cloud and IT security products, services and solutions. For the latest information and to register to attend DataCentres Ireland or Cloud & IT Security Ireland log on to www.datacentres-ireland.com or www.cloud-itsec.com respectively. *Information correct at the time of going to press.

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05/10/2015 14:18

IB SURVEY MARINE INSTITUTE

Ireland’s Ocean Economy –

A RISING TIDE

Last July the Marine Institute took the lead in coordinating the annual national maritime festival, SeaFest, which highlighted the significant contribution of Ireland’s blue economy to society.

reland’s ocean economy contributed an estimated a1.4 billion to GDP last year, according to the latest report from NUI Galway’s Socio-Economic Marine Research Unit (SEMRU), with established industries such as seafood, shipping and marine tourism performing well and emerging industries such as high-tech marine products and services excelling. The report was launched by Minister for Agriculture, Food and the Marine Simon Coveney at the second Annual Ocean Wealth Conference, which took place in Ringaskiddy, Co Cork on July 10th as part of Ireland’s national maritime festival, SeaFest. The conference and surrounding events highlighted the significant contribution of Ireland’s ‘blue economy’ to society, with a focus on celebrating our shared marine culture and heritage. On average, Ireland’s blue economy is performing better than the general economy with up to 9 per cent growth over the last five years. With an estimated turnover of a4.5bn, the sector employs around 18,500 full-time equivalents. New data from SEMRU and Teagasc shows that in addition to the direct benefits of Ireland’s ocean economy, a further 13,000 people are employed across the wider economy. The report is the third produced by SEMRU as part of its collation and analysis of marine socio-economic data in Ireland, which is funded by the Marine Institute. It provides essential information to monitor progress towards targets set out in the national strategy, Harnessing Our

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Ocean Wealth: An Integrated Marine Plan for Ireland. Progress on the implementation of the plan was outlined at the Ocean Wealth Conference and contained in reports and recommendations by two Marine Coordination Group task forces. The Development Task Force was chaired by Robert Dix, with the CEO of the Marine Institute Dr Peter Heffernan acting as vice-chair. The task force recommended action by supporting demonstrator projects across five areas: • Food from the sea • Energy from the ocean • Tourism and business in marine and coastal areas • Enterprise and industry • Integrated marine capacity and capability The task force identified three interventions needed to achieve this growth: ‘marinising’ existing business sectors (eg. ICT for the sea); strengthening established marine businesses; and developing untapped natural resources or existing resources in new ways. The Enablers Task Force on Marine Spatial Planning was chaired by Dr Heffernan, with the former managing director of Arup Ireland, Peter Langford, acting as vice-chair, and was supported by the Marine Institute. It proposed a framework for marine spatial planning in Ireland, highlighting the essential role of the participatory process for the sustainable development of our marine resource.

Dr Peter Heffernan speaking at the Ocean Wealth Conference in Cork

SeaFest 2015 attracted about 10,000 visitors across a variety of events including the Ocean Wealth Conference, a trade exhibition, Seafood showcase, a family fun day, investor networking events and the official opening of the UCC Beaufort Building for marine energy research by Taoiseach Enda Kenny. The Marine Institute was delighted to take the lead in co-ordinating SeaFest on behalf of the Marine Coordination Group and we’re looking forward to bringing the event to Galway in 2016. We would like to thank the many SeaFest event partners and sponsors for working together to deliver a great event. Partners include National Maritime College of Ireland and Cork Institute of Technology, UCC, the Naval Service, IMERC, Bord Bia and BIM. The event was kindly sponsored by Cork County Council, EY, Cork Chamber, the Sustainable Energy Authority of Ireland and the government of Newfoundland and Labrador. InBUSINESS | Q3 2015

09/10/2015 13:11

IB SURVEY LAW SOCIETY OF IRELAND

TECHNOLOGY and the law Be the master of, and not the slave to, technology law.

ollowing the success of their recent free Massive Open Online Course (MOOC) in technology law, the Law Society Diploma Centre is running an extended Diploma in Technology Law. The course will chart latest trends in technology law and will provide wide-ranging analysis of issues relating to intellectual property rights, data protection strategies and transactional issues relevant to technology-based firms. The course commences Saturday October 17th 2015 and is open to non-legal professionals as well as solicitors and barristers. According to Valerie Peart, chair of the Law Society’s Education Committee: “September is a month when many

professionals give careful consideration to further education and the need to upskill. Building on the success of our recent free online course, we have developed this extended diploma to Distinguished guests pictured with faculty and Law Society personnel address the need at a recent Diploma Centre Conferral Ceremony for professionals to be up-to-date in technology law. All lectures are webcast online and We are well placed to provide such are available to be viewed live or in courses with our state-of-the-art archive form. facilities at Blackhall Place and many years’ experience in providing For more information visit postgraduate education.” www.lawsociety.ie/diplomacentre.

DIPLOMA CENTRE Continuing professional education for the way you learn – onsite, online or on the move… Autumn PROGRAmmE

DAtE

FEE

Diploma in Arbitration

Saturday 3 October

€4,000

Diploma in Finance Law

Tuesday 6 October

€2,600

Diploma in Corporate Law and Governance

Wednesday 7 October

€2,600

Diploma in Mediation

Thursday 8 October

€2,850

Diploma in Technology Law (new)

Friday 17 October

€3,100

Certificate in Aviation Leasing and Finance

Wednesday 30 September

€1,400

Certificate in Advanced Negotiation

Friday 2 October

€1,750

Certificate in Charity Law, Trusteeship and Governance

Friday 2 October

€1,400

Certificate in Commercial Contracts

Saturday 17 October

€1,400

Certificate in Trademark Law

Tuesday 3 November

€1,400

CONTACT DeTAiLS e:

diplomateam@lawsociety.ie

01 672 4802

www.lawsociety.ie/diplomacentre

Please note that the Law Society of Ireland’s Diploma Centre reserves the right to change the courses that may be offered and course prices may be subject to change. Some of these courses may be iPad courses in which case there will be a higher fee payable to include the device. Contact the Diploma Centre or check our website for up-to-date fees and dates.

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05/10/2015 15:01

Page

LEINSTER • MUNSTER • CONNAUGHT • A warm welcome for Wexford jobs, plans for the capital’s tallest commercial office building and Trim wins gold in floral competition.

Waterford awards open for business, Tipp merger yields 3m in savings and Ennis on track for new walking and cycling routes.

Plans for Galway to become major startup hub, a new IDA building for Castlebar and preparations underway for MeetWest.

10 FOCUS ON LOCAL ECONOMIC DEVELOPMENT Why jobs and economic growth must continue in every region to ensure it is not a two-tier recovery

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MAKING IT IN

MEATH We look at why SMEs and multinationals are identifying Co Meath as an excellent place to do business

PUTTING CORK ON THE MAP Cork city centre was showcased as a location for global investment at a recent FDI forum in London

In Association with

InBUSINESS | Q3 2015

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05/10/2015 13:42

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05/10/2015 14:49

LOCAL GOVERNMENT IN BUSINESS NEWS: LEINSTER

COUNTY WEXFORD

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WHAT’S ON IN LEINSTER

21ST OCTOBER – 1ST NOVEMBER Wexford Festival Opera Wexford Town, Co Wexford

WARM WELCOME FOR WEXFORD JOBS Wexford County Council says the newly-announced South East Action Plan to create 25,000 jobs will further build on the the record of job creation that has been achieved in the county. Welcoming the action plan, Tony Larkin, Director of Economic Development and Planning Services at Wexford County Council, said: “Wexford County Council will continue to play its part in supporting that track record of success by ensuring that the necessary land, infrastructure and enterprise supports are in place to further generate economic growth, boost investor confidence and create jobs.” COUNTY DUBLIN

SOUTH DUBLIN COUNCILLOR COLM BROPHY has been elected President of the Association of Irish Local Government (AILG). At the AILG’s AGM held in Limerick, Cllr Colm Brophy, a member of South Dublin County Council, was elected as its new President for the coming year. The AILG is the national representative body for the country’s 949 local councillors. InBUSINESS | Q3 2015

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23RD – 26TH OCTOBER Bram Stoker Festival Dublin 5TH – 8TH NOVEMBER Kilkenomics Economics Festival Kilkenny city, Co Kilkenny

COUNTY MEATH

TRIM WINS GOLD IN FLORAL COMPETITION

AILG APPOINTMENT

23RD – 26TH OCTOBER Wicklow Walking Festival Glendalough, Co Wicklow

Trim has won a gold medal in the European Entente Florale Competition. The results were announced at an awards ceremony in Bristol on September 18th. The town was nominated by the Department of the Environment Community & Local Government as one of just two Irish entries in the European competition following the town’s gold medal success in the national Tidy Towns competition. A huge effort was made by Meath County Council, the local tidy towns committee and the community in general to ensure the town was looking its best in advance of judging, which took place in July. Kilrush in Co Clare also received a gold medal on the night.

COUNTY DUBLIN

PROPOSAL FOR 73M HIGH BUILDING IN DUBLIN A PLANNING APPLICATION HAS BEEN submitted to Dublin City Council for what could become the capital’s tallest commercial office building. NAMA is funding the planning application for ‘The Exo’ - a proposed 73 metre-high building at the Point Village that could accommodate up to 2,000 office workers. Subject to planning approval, construction would take approximately two years, creating over 350 jobs in the process.

05/10/2015 13:41

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UPCOMING EVENTS MUNSTER

23RD – 25TH OCTOBER Guinness Cork Jazz Festival Cork City, Co Cork 23RD – 25TH OCTOBER Youghaloween Spooktacular Youghal, Co Cork

COUNTY TIPPERARY

TIPP MERGER YIELDS A3M IN SAVINGS The merger of North and South Tipperary local authorities has yielded savings of a3 million a year, according to a new report by the Institute of Public Administration. The report found that the merger was properly managed when it concluded in June last year. It added that there were some one-off costs, including expenditure on IT systems, office improvements and corporate branding amounting to a1.7m, which was “somewhat lower” than expected. COUNTY LIMERICK

6TH – 8TH NOVEMBER Upperchurch Walking Weekend Upperchurch, Co Tipperary 4TH – 6TH DECEMBER Kenmare Choral Festival Kenmare, Co Kerry

LIMERICK CITY DWELLERS PREFER TO WALK COUNTY WATERFORD

WATERFORD AWARDS OPEN FOR BUSINESS The Waterford Business Awards are now open for entry and will celebrate and honour the very best in business across a variety of ten categories. Organised by Waterford Chamber and supported by Waterford City & County Council and WLRfm, the 2015/16 Awards were launched at the Medieval Museum in September. The awards are open for entry until November 16th with the ceremony taking place on March 4th 2016.

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Limerick City people are more likely to prefer to walk to work, school, or college than residents in other parts of the country, according to a new report commissioned by Limerick City and County Council and carried out by ARUP. Up to 25 per cent, on leaving home in the morning, opt to walk, compared to a national average of 15 per cent. However, the city’s huge third-level college population prefer the comfort of a car and 40 per cent drive to their lectures, while 39 per cent walk, 12 per cent use public transport, and 5 per cent cycle.

COUNTY CLARE

ENNIS ON TRACK FOR NEW WALKING AND CYCLING ROUTES The Ennis Active Travel Town Project has received a major boost with the news that Clare County Council has secured funding from the Department of Transport, Tourism and Sport, to provide improved cycling and pedestrian infrastructure and connectivity throughout Ennis. The new routes that have received funding, following a successful application by Clare County Council under the Active Travel Town Funding Scheme 2014-2016, will be developed on the Quin Road as well as from the Tulla Road to the Gort Road, and between Clareabbey and Ballymaley. InBUSINESS | Q3 2015

05/10/2015 17:39

LOCAL GOVERNMENT IN BUSINESS NEWS: CONNAUGHT COUNTY ROSCOMMON

Registration for the event is now open on www.meetwest.ie

MEETWEST 2015 SPEAKERS INCLUDE: • Niall McGarry, Founder, joe.ie • Gary Quinn, Digital Editor, The Irish Times • Paul Young, CEO, Cartoon Saloon (see our Entrepreneur slot on page 16)

• Ollie Daniels, CEO of the Insight Centre for Data Analytics InBUSINESS | Q3 2015

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WHAT’S ON IN

REGISTRATION OPEN FOR MEETWEST 2015 Registration is now open for MeetWest 2015, the largest business networking event in the West of Ireland this year. Hosted by Roscommon County Council, MeetWest 2015 is a two-day business networking forum taking place at the Hodson Bay Hotel, Athlone, on November 18th and 19th. Organised in partnership with the local authorities, local enterprise offices and state development agencies in Roscommon, Mayo and Galway, MeetWest brings together a wide range of companies from the West of Ireland and further afield to network and do business. Now in its 5th year, organisers have tailored this year’s programme to maximise new and innovative networking opportunities for attendees in a variety of formats.

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CONNAUGHT 7TH OCTOBER Westport Sea 2 Summit Westport, Co Mayo 16TH – 26TH OCTOBER Conamara Sea Week Letterfrack, Co Galway 21ST – 26TH OCTOBER Sligo Live 2015 Sligo Town, Co Sligo

COUNTY GALWAY

20TH – 26TH OCTOBER Galway Comedy Festival Leenane, Co Galway

COUNTY MAYO

PLANS FOR GALWAY TO

BECOME MAJOR START-UP HUB AIB has announced a five-year partnership with Galway City Innovation District, an initiative that supports start-ups and business innovation in Galway city and the west of Ireland. The initiative brings together Galway Chamber of Commerce, Galway City Council, NUIG and GMIT to form the GCID. In time, the GCID is expected to be similar to Dublin’s so-called ‘Silicon Docks’ area where companies such as Google and Facebook are based. Announcing the partnership for AIB at the Venture West Conference, AIB chief executive Bernard Byrne, said: “Developing an innovative district in the heart of Galway can serve as a catalyst for high growth companies and is a model that worked in other cities such as Boston. This will help address the economic imbalance between the west of Ireland and the east coast.”

NEW IDA BUILDING FOR CASTLEBAR GETS GREEN LIGHT Mayo County Council has granted planning permission for a new a5 million IDA building to be located in Castlebar. The development will be constructed in a vacant, fully-serviced site owned by the agency at Breaffy Road in the town. Responding to the news, Taoiseach Enda Kenny said he expects the plant to be ready for use by October 2016. The building forms part of the Government’s Regional Action Plan for Jobs. The IDA is rolling out a five-year a150m capital investment programme to help attract more multinational jobs into each region.

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WHAT’S ON IN ULSTER

17TH – 18TH OCTOBER Crana Fest 2015 Buncrana, Co Donegal 21ST – 26TH OCTOBER Ed Ready Traditional Music Festival Cootehill, Co Cavan 22ND – 25TH OCTOBER Clones Film Festival Clones, Co Monaghan 23RD – 27TH OCTOBER Virginia Pumpkin Festival Virginia, Co Cavan

COUNTY MONAGHAN

MONAGHAN TO PROMOTE

COUNTY CAVAN

RISING CENTENARY PROGRAMME UNVEILED CAVAN COUNTY COUNCIL HAVE UNVEILED PLANS for their 2016 Centenary programme of events to mark 100 years after The Rising. The programme is anchored by a family friendly event titled ‘Reimagining Cavan as it was in 1916’ to take place in County Town on Saturday April 23rd. The events will acknowledge the lead up to the seminal event and how it contributed to the formation of the State. They will focus on the county’s links to the Rising, including Bailieborough pacifist Francis Sheehy Skeffington who was murdered on Easter week and IRB man Peter Paul Galligan who carried James Connolly’s battle orders to volunteers in Enniscorthy. The local launch of the 2016 Centenary programme will take place in November. COUNTY DONEGAL

CONGRESSMAN CELEBRATES

IRISH LINKS

US Congressman Brendan Boyle celebrated his close Donegal links when he spoke at a reception held in honour of the Boyle family at the Public Services Centre in Donegal Town in August. The reception, organised by Donegal County Council, was held to honour their links with their ancestral home, Glencolmcille and the Boyle family success in the political scene in the US. Boyle was elected in a Democratic stronghold covering Philadelphia and suburbs surrounding the city. The three-term state representative beat Republican Dee Adcockin Pennsylvania’s 13th District with more than 67 per cent of the vote after seeing off a strong Democrat challenge from former congresswoman Marjorie Marjolies. COUNTY DONEGAL

FESTIVALS IN UK Monaghan’s Strategic Policy Committee (SPC) is to consider ways to market the county’s festivals to the media in the UK. The success of Monaghan’s festivals was highlighted at a recent Monaghan County Council meeting. Fianna Fáil’s PJ O’Hanlon said that Monaghan’s angling competitions and festivals draw huge crowds from the UK, which generate a big spin off in the local economy. His proposal to invite the members of the media in the UK to the county’s festivals will now be discussed at the SPC meeting for consideration. He says one of the best products on offer for tourists is the Muckno Mania Angling festival in Castleblayney.

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DONEGAL VIDEO GOES VIRAL A new video promoting Donegal as a great place to live, to work and do business has gone viral. The video, which has been produced by Donegal TV for Donegal County Council as part of the campaign to reach out to Donegal’s global community, has received a fantastic response across the world, particularly in the US. Responding to the success of the video, which has received over 22,000 views at time of writing, Cathaoirleach Cllr Ciaran Brogan said: “Donegal stirs up an emotional response for anyone with a connection to our county no matter where in the world they may be and the video grasps that emotion.” InBUSINESS | Q3 2015

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LOCAL GOVERNMENT IN BUSINESS ESRI IRELAND

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Local Government Wins Esri’s

SPECIAL ACHIEVEMENT IN GIS AWARD The local authority community is reaping the rewards of adopting a geographic approach.

rish local authorities have been recognised internationally for their use of geographic information system (GIS) technology. Last July the community was honoured with a Special Achievement in GIS (SAG) Award at the 2015 Esri International User Conference in San Diego, California. This award acknowledges vision, leadership, hard work, and the innovative use of Esri’s GIS technology. Local authorities have in recent years come under increased pressure to reduce spending and to offer improved services to communities. To this end, it was critical that Government – both central and local – make full use of their available resources. The use of GIS is not a new innovation among Irish local authorities; many have already made use of the technology to support the work of various departments. But for several years its use comprised many disconnected parts and workflows, which was time consuming to manage and maintain. The vision was to build a single, connected GIS to meet the needs of all members of staff, across all departments, partners and the general public. Now there has been a significant increase in the number of local authorities using the Esri Platform. In fact, the Local Government Esri User Community in Ireland has grown from only four councils in 2011 to 22 councils now using Esri technology. Adopting this platform approach enables the GIS teams in local InBUSINESS | Q3 2015

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Esri President Jack Dangermond speaking at the conference

deserve recognition for their invaluable contributions to their communities authorities to work and the continued more efficiently and evolution of geographic has paved the way science.” for them to deliver new According to Dermot value-added services for the San Diego Conference O’Kane, Esri Ireland, this is public. By freeing up their time, Centre one of the few occasions where GIS professionals within the Esri have honoured what is councils are now able to focus essentially a ‘community of practice’. on more strategic issues and forward “This is a really important aspect of planning rather than being caught up this SAG award as it demonstrates the in day-to-day operations. Furthermore, power and value of taking a collective the renewed focus on GIS technology and collaborative approach to meeting is enabling local authorities to interact the requirements of organisations with the citizens they serve in a much that have similar use cases across more fulfilling way to help solve real their respective enterprises. The Local problems and open new opportunities. Government GI Community is leading “The SAG Awards identify the organisations and people who are using the way in this regard within the Irish public sector.” the power of geography to make our world a better place,” says Esri President Jack Dangermond. “At Esri, we are For more information about the 2015 always deeply inspired by the passion Special Achievement in GIS Award and innovation of our users. They winners visit esri.com/sag

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Highlighting Best-Practice in

LOCAL ECONOMIC DEVELOPMENT

Jobs and economic growth must continue in every region across the country to ensure it is not a two-tier recovery, writes Sarah Foley, Policy & Research Executive, Chambers Ireland.

reland is entering a new phase in its economic history. As we emerge from a period of deep recession, this year has been characterised by steady employment growth and growing output. Until now, economic growth has been uneven across the country with job prospects primarily improving in our main urban centres, which has led observers to talk about a “two-tier recovery”. The latest figures from the Quarterly National Household Survey, however, show that this

trend has begun to reverse. In the last year a total of 57,100 additional jobs have been created. Even more important is the finding that every region in the country has seen jobs growth and unemployment fall in the same period. This momentum must be maintained. Accelerating the pace of regional recovery is vital to ensure future sustainable economic growth. Unless we provide opportunities in the areas that people live in, we can do little to address the legacy of youth and long-term unemployment. Equally,

Cork County Council’s Taste Cork Food Marketing Initiative

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the regional imbalance in growth must be reduced to ensure that our rural businesses are able to compete on a level playing field as those located in urban areas. While we are clearly moving in the right direction, it is important to continually support local employers and indigenous industries to grow their businesses and take on more staff. Well-thought-out policies can make this happen. There are several ways through which we can support businesses. Our tax policies only form one essential part. Other methods include ensuring that businesses operate in a thriving environment, that they have access to the required economic infrastructure, and that they are able to attract new customers and employees to the local area. Whereas central Government remains responsible for implementing a tax system that facilitates business growth and has power to put in place the necessary economic infrastructure, the role of local authorities in continuing the employment growth in our regions has never been more important. Local authorities have always played an integral role in the economic development of their local area, but with the ongoing reforms of local Government, a new emphasis has been placed on local authorities as drivers of local economic development.

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FEATURE

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Team Limerick Clean-Up Initiative co-ordinated by Limerick City and County Council

Made in Galway by Galway County Council

BEST-PRACTICE GUIDE FOR LOCAL ECONOMIC DEVELOPMENT Chambers Ireland and its affiliated network of Chambers have long worked to advance our mutual goal of regional economic growth. As an example, we have dedicated a category in our annual Excellence in Local Government Awards to promote local economic development. Drawing on our experience in this area and our insight into the mixed fortunes of the counties and towns that have not yet fully recovered, Chambers Ireland has compiled a best practice guide for local economic development. During the first half of this year, 22 Chambers worked with Chambers Ireland to identify successful initiatives and projects being undertaken in their respective areas that they viewed as having a positive impact on the business community and economic growth. The feedback received showed an overwhelming amount of innovative ideas being implemented right across the country to support the economic transformation of local areas. A number of these initiatives

InBUSINESS | Q3 2015

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are being delivered by local authorities and Local Enterprise Offices (LEOs) in partnership with Chambers. Recognising that many of the identified initiatives can easily be replicated in other areas, we have developed a ready resource for local authorities and Chambers to seek inspiration as they develop programmes within their own communities. In our guide, we outline concrete examples of how local bodies and authorities can cooperate to improve the local business environment by taking action under the four areas below: • Attracting new business • Supporting existing business • Town centre development • Increasing competitiveness In addition to highlighting Irish best-practice, the guide also provides examples of innovative international initiatives that can be easily introduced in an Irish context to generate further growth. To access Chambers Ireland’s Local Economic Development Guide kick-start the development of your local area, visit www.chambers.ie.

The Shop LK initiative by Letterkenny Chamber and the Retail Promotions Initiative

“THE GUIDE ALSO PROVIDES EXAMPLES OF INNOVATIVE INTERNATIONAL INITIATIVES THAT CAN BE EASILY INTRODUCED IN AN IRISH CONTEXT TO GENERATE FURTHER GROWTH.” 9

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MAKE IT MEATH

FOR BUSINESS

SMEs and large multinationals are identifying the excellent opportunities that locating in Co Meath has to offer, helping build a stronger economic profile for the region.

hoose Meath as the location to establish or relocate your business. This is the message being driven by Meath County Council as they embark on the implementation of an ambitious eight-year economic development strategy for the Royal County. Meath has long been known for its culture and heritage but recognition must be given to its development as an innovative business hub offering enterprises – from SMEs to foreign direct investment companies – a cost competitive location with outstanding connectivity for local, national and international trade. Not only is the cost of working and living in the county more economical than other counterparts in the Greater Dublin Region, but it also offers an exceptional quality of life, highly educated workforce and excellent business infrastructure. Recent testaments to the quality of life on offer (in the summer of 2015 alone) include the opening of Ashbourne International Baseball

Centre, the growth of an extensive events programme during the Boyne Valley Food Series and the opening of Europe’s largest wooden rollercoaster in Tayto Park, one of Fáilte Ireland’s top 10 visitor attractions in Ireland. Meath’s UNESCO world heritage site, Brú na Bóinne, was recently included in Lonely Planet’s must-see sights of all time. In implementing a new Economic Development Strategy 2014-2022, Meath County Council have a focused vision to implement clear, concise, innovative and evidence-based measures aimed at accelerating the economic transformation, revitalisation and sustainable development of Meath. The creation of 7,500 new jobs is a key target alongside ambitious new business investment targets of 40 per cent and boosting foreign direct investment by 15 per cent. The strategic location of two IDA business and technology parks in Navan and Drogheda, alongside a range of other business parks and commercial sites throughout the county, highlights the enterprise potential

and infrastructural planning in place to attract these types of investments. The Council is actively seeking new opportunities in the region to create a strong enterprise base covering a range of sectors. Local and domestic sectors such as manufacturing, tourism and agriculture will continue to grow and hold significant importance to the economy but Meath County Council have embarked on fast tracking the development of other sectors including ICT, pharma-chem and agrifood, and internationally traded services to allow the county to access untapped potential for the region. The effectiveness of this new approach to business was reinforced with tech giant Facebook announcing, two weeks after the launch of Meath’s Economic Strategy, the decision to locate their new European data centre in Clonee, Co Meath. Valued at a200 million and creating hundreds of jobs during construction, this FDI company will employ a further 50 people when operational. Meath County Council are confident that the momentum won’t stop there with the Meath Economic and Enterprise Team offering every support to encourage and facilitate enterprise development in the county. The Council also welcomed the designation of Kells under the Regional Aid Map 2014-2020 which provides aid opportunities to enterprises of all sizes for new economic activities, expansions which involve new products or services, and product innovation. There has been a succession of new businesses locating in the area as it is an excellent opportunity for companies to locate in Kells and avail of the incentives that will attract a strong economic profile for a region which has much potential. For more information on why you should ‘Make it Meath’ as your business location visit www.meath.ie/business.

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LOCAL GOVERNMENT IN BUSINESS MEATH COUNTY COUNCIL

We have a wide range of nationalities living locally with 37 languages spoken as a first language which offers language skill set to support any global business operating in Meath. Tayto Park is one of the top 10 visitor attractions in Ireland.

57%

Critical Mass of Talent 1.8m people in the region = 40% of the country.

PORT TUNNEL: Dedicated route for Heavy Goods Vehicles between the port, located in the heart of the national gateway (capital city of Dublin) and the national road network via the M50 Interchange

Labour Force 910,000 people = 42% of the country.

ALMOST

80% Almost 80% of Meath businesses surveyed are ‘happy’ or ‘very happy’ with being located in Meath.

INTERNATIONAL AIRPORT: 30 minutes travel time to Europe’s sixth largest airport for transatlantic connectivity 21.7 million passengers annually; 161 destinations globally

Business Supports

50%

GDA CONTRIBUTION TO TOTAL GVA Quality of life

Domestically / locally-traded activities

National strengths and convergence opportunities

Agri-food ICT Med-tech Pharma-chem Internationally-traded services InBUSINESS | Q3 2015

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STRONG ENTERPRISE MIX IN SECTORS

Mature sectors

ACCOMMODATION: Over 1,000 serviced accommodation bedspaces, 65% of which are hotel spaces

MOTORWAY: 4 of the 6 primary motorways to the national capital city including the Belfast-Dublin Economic Corridor

Kells Regional Aid Area

Manufacturing /engineering Tourism and hospitality Retail and wholesale Transport, logistics and distribution Property and construction

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LOCATION: The number one advantage for operating a business in Co. Meath followed by proximity to capital city and access to clients

BUS AND RAIL SERVICES: Access to major cities and towns in Ireland

PORT: 1.7 million ferry passengers and 140,000 visitors on 86 cruise ships annually.

Ready to go Business and Technology Parks

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42%

Knowledge Economy 8 higher education institutes = 57% of all postgraduates.

40%

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Emerging opportunities and untapped potential

Green economy / clean-tech Arts, entertainment and recreation Education

CONGESTION-FREE: No congestion & guaranteed journey times.

Meath forms part of the Greater Dublin Area (GDA) with 50% Gross Value Added (GVA) of Ireland in this region.

32% INDUSTRY

57% SERVICES

13%

AGRICULTURE

Professional and business services Medical services Personal services

(GDA contribution to total GVA)*

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Developing Limerick’s Innovation Ecosystem Innovate Limerick is helping to drive innovation in Limerick city and county.

n September 2014, Limerick City & County Council established Innovate Limerick to help drive innovation and deliver the aims of some of the projects outlined in the Limerick 2030 Plan, the Limerick Regeneration Implementation Plans and others. Innovate Limerick is a public-private partnership company comprising key partners including LEDP, LIT, UL, EI, Limerick Chamber, Limerick Regeneration, Limerick and Clare ETB and entrepreneurs. Key projects to date include establishing the Innovation Hub at LEDP Roxboro which will ‘hot house’ a number of initiatives that will double the number of incubating and accelerating firms and act as a coordinating body for business start-

ups looking for affordable enterprise space in community enterprise centres. Other projects include the development of an international film studio at the former Dell site in Castletroy and conversion of the former Andersen jewellery factory in Rathkeale into Limerick’s newest community enterprise centre. Innovate Limerick continues to work with key stakeholders to develop an open and collaborative innovation ecosystem and network in Limerick. Our aim is to help deliver economic and social innovation and use the hub as a gateway to influence national and international innovation outreach programmes/projects for Limerick and the midwest region. It is anticipated that the Innovation

Hub when completed will result in the creation of approximately 150 new jobs in the Roxboro area within two years and an additional 100 jobs will be created in spin out enterprises that relocate to enterprise centres such as Kantoher or Anderson in Rathkeale to name but a few.

Innovate Limerick Some of the services we provide are: ■ Coordination of Innovation Activities ■ Provision of Hotdesking and Enterprise Space ■ Project Management ■ Develop and build Innovation Ecosystem in Limerick City and County ■ Mentoring ■ Identify key strategic partners and opportunities

Email: innovate@limerick.ie Tel: 061 221414 Web: www.innovatelimerick.ie

Innovate Limerick Unit B12 LEDP, Roxboro, Limerick

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FEATURE

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PUTTING CORK

ON THE MAP Cork city centre was showcased as a location for global investment at a recent FDI forum in London.

eading decision-makers from the global corporate sector learned more about the Cork City centre investment proposition at a major foreign direct investment forum in London on September 24th 2015. With a series of major new developments now underway which will further enhance the city’s highend office and retail offering, now is the opportune time to showcase Cork city centre as a location of choice for global investment. Organised by fDi Magazine and the Financial Times, the fDi Forum brought together a high-level group of CEOs, managing directors and other decision-makers from the corporate sector, along with select representatives from the public sector and other experts in the field of cross-border investment. Cork City Council Chief Executive Ann Doherty led a strong Cork delegation to the fDi Forum which included representatives of Cork City Council, Cork Chamber of Commerce, IDA Ireland and Cork Airport. Talent and the existence of strong business clusters are key drivers in company investment decisions, as is a significant research base. Some of Cork’s FDI and indigenous success stories such as Tyco, Teamwork.com and Smarter Dynamics attended the forum and shared their experiences with delegates of how locating in Cork has helped them to succeed and grow. Also joining the delegation were organisations responsible for some of Cork city’s most ambitious and

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state-of-the-art developments including John Cleary Developments (One Albert Quay and The Capitol), O’Callaghan Properties (introducing a new development on Anderson’s Quay), BAM Ireland (introducing the Brewery Quarter and The Quay, Sullivan’s Quay) and Dairygold (with their soon to be launched Trinity Quarter development). Also lending his support to the delegation was New Zealand All Black Doug Howlett who finished his playing career with Munster and since then has made Cork his home professionally and personally. Addressing the forum in a panel discussion on EU Developments and FDI, Doherty outlined what makes Cork a strong investment proposition

and why it is already home to so many global brands. She cited its talented and educated workforce, strong third level education and research institutes, and its strengths in technology, life sciences, food and beverages and business services. She stressed that stakeholders in Cork were open to engaging with and responding to companies, ensuring they are offered the best solution for their business. The global reach of the fDi forum is evident in the range of cities and countries represented - Cork city took its place alongside organisations representing Melbourne, Essex, Cyprus, Jersey, Louisiana, Tbilisi, Guangzhou, Quatar and Mali. The forum offered valuable insights which will help Cork city develop its message to potential investors. It provided a platform to introduce the city to major global FDI decisionmakers and influencers, with the opportunity for introductions to and meetings with potential investors – kick starting conversations which will continue after the forum. This is the first step in the rollout of a major marketing and messaging effort by stakeholders in the wider Cork region.

Doug Howlett, Munster Rugby and Cork city’s ambassador for the fDi Forum, Ann Doherty, Chief Executive, Cork City Council, Ray O’Connor, IDA, Barry O’Connell, President, Cork Chamber pictured at a briefing event hosted by Cork City Council on the potential for attracting FDI for Cork city centre

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EVERY SINGLE ADDRESS AT YOUR FINGERTIPS Now we can do it for your company too! GeoDirectory has given every building in the Republic of Ireland its own fingerprint: a unique, standardised address pinpointed to an exact location by the combined expertise of Ordnance Survey Ireland and An Post. Having this information at your fingertips could help you plan, analyse and evaluate far more easily – just like organisations such as the Revenue Commissioners, Department of Education, Communication Energy and Natural Resources and many others have already done. To find out more, visit www.geodirectory.ie Telephone 01 705 7005

Download the GeoFindIt App The GeoFindIT app allows you to view Property selling prices from the Property Price Register, live search results, directions and vour “little helper” will show you what’s of interest in an area. The GeoFindIt App is available on iTunes and the Google Play and Free to download.

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LOCAL GOVERNMENT IN BUSINESS GEODIRECTORY

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Driven by

DATA

InBUSINESS spoke with GeoDirectory CEO Dara Keogh to discover more about the power of data to a business.

eoDirectory is all about the data. It drives their operations, informs their products and sets them apart in the Irish market. The source for the creation (and maintenance) of Ireland’s new Eircode postal system, GeoDirectory’s database combines data acquired through An Post and Ordnance Survey Ireland to provide a fingerprint for every residential and commercial building in Ireland.

DATA AT WORK GeoDirectory doesn’t simply sit on this valuable cache of data – they are constantly devising innovative ways to use this information. AddressFix is a new service with the purpose of enabling companies to clean and enhance the information already in their possession. Businesses provide their data sets and GeoDirectory gets to work cleaning and restructuring the addresses. AddressFix then goes a step further and provides the option to append other information to those addresses, such as location codes for the purposes of mapping, or examining social demographic information for residential databases, as well as the new Eircode system. “This allows businesses to target their areas more effectively, to learn about new opportunities and provide leads for your sales team,” explains Dara Keogh, CEO, GeoDirectory. With AddressFix, GeoDirectory has moved from being a data supplier to a solutions provider. As a result, if you’re a small or medium sized business, you can now take InBUSINESS | Q3 2015

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advantage of the power of data. And that can only be positive – it can help identify and exploit new opportunities to grow business revenues. GeoDirectory’s recently upgraded app – GeoFindIT – uses GPS to set the user’s location and, using a fully integrated search screen, allows users to search for a business or address using a keyword. They can also pinpoint their starting position using their current location or by dragging and dropping the GeoFindIT icon to their desired starting point. The search function works without a radius, so users can search for any location throughout Ireland. The upgraded app now includes property price information that gives it an increased appeal to the general public. “We think people are going to love that you can now look at the prices of recently sold properties around you,” Keogh adds. The most interesting aspect is the augmented reality setting. Unlike anything seen in the Irish market to date, this function allows users to open the app anytime, anywhere, to view real-time overlays of house prices, directions and more. The app works intuitively, displaying information for properties in whichever direction the

AddressFix is a new service with the purpose of enabling companies to clean and enhance the information already in their possession.

phone is pointing. GeoDirectory has been built on the understanding that data is valuable in its own right but when you link it with other things, in this case mapping and property prices, you can see how it all works together. For those still undecided on whether such solutions could be of benefit to their businesses and operations, Keogh suggests trying it out – GeoFindIT is free – to see the power of data for yourself. “When you talk about data it doesn’t sound that appealing, but when you see it applied in real life it can deliver new potential leads and revenue,” he explains. The end product only functions as intended because of the quality of the data underneath. Think of it like the foundation of a house – regardless of how well built the house is, if the foundations are poor then the building will crumble. GeoDirectory helps ease any data reliability worries businesses may have, so they have confidence and can focus on growing their business.

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Informing you about the work of local authorities in supporting the business needs of their community... To tell us what your local council is doing for business email joseph.oconnor@ashvillemediagroup.com

In Association with

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05/10/2015 13:35

IB SURVEY FLIR FX

Small Camera with BIG AMBITIONS The FLIR FX is a versatile wireless camera that allows you to keep an eye on the things you care about – any time, any place.

ech company FLIR is mainly known for their thermal imaging products, including a nifty little device that can be used in conjunction with an iPhone. They’ve also launched a new camera product known as the FLIR FX this year, which operates on a motion detection basis and provides a video recap of the day’s events in one easy-to-consume video file, which could be useful as a cheaper security camera alternative, or also as a dash or body camera to record events like an emergency incident for later consumption. The most interesting feature of the FX, known as RapidRecap, involves the creation of a video that simultaneously presents events that occurred at different times – you can view an entire day of recordings in a matter of seconds, with each recorded object accompanied by a time stamp. To create RapidRecaps and look at your recordings, there’s a free app for iOS and Android devices that allows for remote viewing and control across multiple devices. You can also jump to a specific event and watch the original recording. Users can also choose a particular area to focus on, a feature known as SmartZone. The camera’s field of view is divided into a grid and specific grid boxes can be selected in which any movement will trigger an alert – avoiding the capture of InBUSINESS | Q3 2015

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irrelevant footage. The device also comes with a cloud storage option (cloud is required if you want to make RapidRecap videos) but there is a monthly or yearly charge if you choose anything beyond the basic package. Or you can just opt out and save your footage on the microSD card. While the FX comes with an indoor stand, with an optional outdoor weatherproof housing also available, it’s not just a static camera. There’s a sports housing available that’s waterproof

FX: THE HIGHLIGHTS Set up time: 5 minutes Resolution: 1080p Memory: 8GB – 64GB microSF or microSDXC Battery: Up to 2 hours of continuous use Recording format: MP4/JPEG Dimensions: 51mm x 31mm x 59mm Operating temperature: 0°C – 40°C Night vision: 10m (33ft)

(up to 20m) and features one-click sharing for social media, or a dashboard mount with an internal accelerometer that senses when a vehicle is in motion and activates a 30-minute loop. The accelerometer can also sense when a crash is imminent (1.7g) and will create a permanent recording saved ten seconds before impact.

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ttitude A ADJUSTMENT 130

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05/10/2015 13:32

PRICE WITH OPTIONS €47,870

MOTORING CORRESPONDENT OLIVE KEOGH TOOK THE NEW MERCEDES-BENZ 5-DOOR CLA SHOOTING BRAKE FOR A TEST DRIVE AND DISCOVERED A VEHICLE KEEN TO CATCH THE EYE OF A YOUNGER GENERATION.

ercedes is keen to tempt younger buyers to the brand and part of its strategy to do so has been to roll out new niche models with more ‘youth’ appeal. Of course in Mercedes’ case, youth is a relative term. The average age of a Mercedes driver has been 50+ for a very long time, not least because of the cost of ownership. By Mercedes standards then, bagging well heeled buyers in their 30s and 40s is a chronological triumph. The new 5-door CLA shooting brake is a case in point. Styled as a coupé but with at least some of the functionality of an estate, it is like a compact version of the larger CLS wagon – with attitude. From the large star emblem set into the bonnet to the sleek frameless windows and sweeping body line, the

emphasis has been on creating an eye catching look that will tempt younger buyers, styleconscious older Mercedes owners and downsizers. The universal drawback of coupés is that they reduce rear headroom and the CLA is no different. The estate has a slightly higher roofline than the coupé but the slope still makes it tight for taller passengers when seated and increases the risk of banging your head getting in and out. The CLA comes with a 495-litre boot and this will extend to 1,354 litres with the seats down. While this makes it roomier than the 4-door, it is by no means a load lugger in the roomy tradition of mainstream Mercedes estate cars. The CLA is more of a style statement with a bit of extra bootspace and there is a snag to making the most of it – the loading aperture is narrow. There are five engine options (two diesel, three petrol) all with fuel saving start/stop. Road tax is €190 for the diesels

ENGINE 2143CC CDI (DIESEL) CO2 EMISSIONS (g/km) 105-112g/km COMBINED CYCLE 4-4.3/100KM

and €270 for the petrol models. Standard safety features include collision prevention assist which is an autonomous braking system that triggers automatically when the risk of a collision is detected. Audio streaming, Bluetooth and USB connectivity are all standard as are air conditioning and pedestrian protection. Extra options on the test car included a reversing camera, ambient lighting and a panoramic sunroof. Depending on your budget, a CLA can cost up to €45,045 for the CLA250 petrol. The entry point is €36,125 for the 2.2-litre (136hp) CLA200 diesel. The test car was the Sport Auto and it comes with sports seats and lowered sports suspension. This makes for a firm ride which is at its best over smooth surfaces. Mercedes, BMW and Audi are all turning to lower margin but higher volume compact models to boost their sales and are picking off smaller niches one by one. It’s a strategy that seems to be working and Mercedes is on a roll with rising sales in a recovering European market. It is now snapping at Audi’s heels to take second place behind BMW in the global premium car sales rankings.

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05/10/2015 13:32

MOTOR ING: LIFESTYLE: motoring

A Timely

Facelift THE NEW AUDI Q3 IS COMPACT SUV MOTORING AT THE UPPER END OF THE SCALE, WRITES OLIVE KEOGH.

f you’d put a bet on SUVs becoming flavour of the month with European car buyers, you’d now be spending your winnings. Basically Europe can’t get enough of them and first half sales of small SUVs and crossovers are up 36 per cent while sales of larger versions are up 25 per cent. Car buyers are deserting traditional segments in their droves in favour of SUVs of all hues. Strong sales of

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the Nissan Qashqai, for example, have unseated Toyota as Europe’s number one Asian brand. Surging SUV sales are also creating problems for the MPV segment. Once the obvious choice as family transport, they are now losing out to the more contemporary styling of sports utility vehicles and crossovers. European six-month sales of people carriers fell by 13 per cent. The surge in the popularity of SUVs is across all sizes and grades and it’s also full steam ahead in the compact premium segment. That’s music to Audi’s ears as it has recently launched a facelifted version of the Q3. Also just arrived from Audi is the new Q7 which is currently the brand’s

largest SUV, but not for long – there’s an even bigger Q8 on the way. The Q3 is Audi’s smallest SUV at the moment and is neatly styled with a compact footprint and a pleasantly elevated driving position. The cabin finish is low key but luxurious, the seats are generously proportioned and comfortable and the Q3 steams along quietly while competently soaking up the bumps en route. The previous Q3 suffered from poor ride quality but improvements to the suspension have noticeably improved things. The Q3’s cabin is roomy for kids, but less so for tall adults in the rear and while the boot capacity is a respectable 460 litres with the rear InBUSINESS | Q3 2015

05/10/2015 13:32

PRICE WITH OPTIONS €52,340 ENGINE 1.4 LITRE PETROL CO2 EMISSIONS (g/km) 143g/km CONSUMPTION 5.9l/100km

seats in use, the boot floor is high and a tad awkward to load. Carrying capacity increases to 1,365 litres with the seats folded down. Audi launched the Q3 in 2011 so its mid-life makeover is timely as there is newer metal on the market. Prices for the new range begin at €35,900 which works out at €369 a month with a PCP underwritten by VW Group’s own bank. The test car came with just about every option possible from a sports steering wheel with shift paddles to an electric boot lid, LED headlights, leather upholstery and a driver information system with a colour display. Truth to tell, the standard spec is already pretty good and includes driver seat lumbar support (reduces back fatigue on long journeys), a multifunction steering wheel, air conditioning and a list of safety systems including hill hold assist and ESP. The Q3 is compact SUV motoring at the upper end of the scale and is essentially designed for soft roading rather than rugged terrain. Its rivals are the likes of the BMW X1 and the Range Rover Evoque and all tick similar boxes. Line the three up side by side and this becomes as much a battle of the badges as anything else. InBUSINESS | Q3 2015

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Auto Innovate: REMOTECONTROLLED RANGE ROVER UNVEILED Jaguar Land Rover has unveiled a Range Rover Sport prototype that can be driven remotely via a smartphone. Sounds cool, but is it of any real use? Well yes in circumstances where the driver would have a better view from outside the car. For example, negotiating difficult off-road terrain. It would also be a big help in car parks where skinny spaces and bad parking by others can make getting into or out of your car a struggle. The app controls the steering, accelerator and brakes and allows the driver to walk alongside the car at a maximum speed of 4mph and to manoeuvre the vehicle to safety. The remote control function will only operate if the user is within 10 metres of the car and if the smart key can be detected. The system will stop the vehicle if the driver moves out of range or gets too close.

NEW TRICKS AT SKODA You’ve got to hand it to Skoda. By thinking outside the box the company has tapped into a potentially lucrative new business area. The company has designed and launched its first range of motor-related accessories for dog owners. The range includes a doggy seatbelt, a back seat cover, two types of dog grille and non-slip boot mats. Where these accessories score over others on the market is that they are likely to fit properly as they are designed specifically for Skoda cars. Don’t laugh. The statistics suggest Skoda is on the money. There are an estimated 75 million dog-owning households in Europe. Russia has more than 12 million followed by the UK with 8.5 million and France and Poland with more than 7.4 million each. The accessories are available in Ireland and a particularly handy one is the grille that divides the boot space so the dog can be on one side and luggage/ shopping on the other.

SEAT DESIGN IS CHILD’S PLAY FOR VOLVO In 1964 Volvo Cars unveiled the world’s first rear-facing child seat prototype. Child seats have evolved significantly since then and with its focus on safety Volvo has always been in the running with new ideas. Volvo has now decided it’s time to completely re-imagine how children could travel safely in cars in the future. Its Excellence Child Seat Concept enables parents to swivel the seat for ease of seating the child and also provides storage for small items beside the seat and a storage space underneath for nappies, blankets and larger items. They’ve also included a space for a baby paraphernalia tote bag at the front of the seat under the dashboard. The seat also includes a function to help small children safely lean back and sleep. Meanwhile, bottles can be kept warm in the heated cup holders. Volvo believes small children should travel rearward facing due to the lack of muscular strength in their necks.

05/10/2015 17:26

LIFESTYLE: innovation

INNOVATION NATION InBUSINESS looks at the latest innovations and technologies that are shaping the future. In this issue: office gadgets.

SPHERO BB-8 To coincide with the release of the new Star Wars movie, the people that brought us the small spherical robot, Sphero, a few years back have turned their hand to merchandise from Episode VII - The Force Awakens. Standing 4.5 inches tall, BB-8 is an app-enabled droid whose movements and personality are as authentic as they are advanced. Had a tough day at the office? Based on your interactions, BB-8 will show a range of expressions and perk up when you give voice commands. Watch your droid explore autonomously, guide BB-8 yourself, or create and view holographic recordings. BB-8 is more than a toy - itâ&#x20AC;&#x2122;s an office companion! www.sphero.com/bb8

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05/10/2015 13:24

LIFESTYLE: innovation

BB-8™ PERSONALITY

Digital Digest LISTENS & RESPONDS

A recent roundtable discussion on copyright has revealed that Kevin Kadine, the co-writer of Meghan Trainor’s All About that Bass, received a mere US$5,679 in royalties for 178 million Spotify streams of the summer smash.

AUTHENTIC MOVEMENT

THE LEVEL

HOLOGRAPHIC MESSAGING

The Level by FluidStance is a work platform that elicits subtle, constant movement below your feet to increase your range of motion and heart rate. Developed primarily as a tool for your immediate workspace, it can be used in common areas of both the home and office, or as a complement to a stand-up desk. www.fluidstance.com

So the Web Summit is moving abroad. Fear not, Ireland still has plenty to offer in terms of major tech events. InspireFest is a case in point and it has begun announcing some of its speakers for 2016. One of those is Robin Chase, founder and CEO of Buzzcar, a peer-to-peer car-sharing service in France.

Instagram has just topped the 400m users per month tally, streaking clear of Twitter, which has 316m, and further strengthening Facebook’s control of the social media landscape, having purchased Instagram for US$1bn four years ago.

FIFTHYTHREE PENCIL Pencil is billed as a hardware accessory for Paper, the app that allows you to draw to your heart’s content on the iPad with little interference. The latest in FiftyThree’s essential suite of mobile tools for creativity, Pencil helps Paper users to create sketches and designs in a much more normal, natural way. www.fiftythree.com/pencil

InBUSINESS | Q3 2015

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A new worldwide broadband report released by the United Nations shows that 57 per cent of people on the planet have no access to broadband.

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LIFESTYLE: travel

The Real

Madrid STYLISH, MODERN AND RICH IN CULTURE, YOU WON’T BE STUCK FOR THINGS TO SEE OR DO IN THE SPANISH CAPITAL, WRITES JANE QUINN.

Palacio Real de Madrid

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oasting the title of third largest city in Europe, Madrid has more than enough to offer in terms of hospitality, history, entertainment and food. But for a city of its scale, it can be a little overwhelming when trying to decide how best to spend your time. Whether on business or leisure, the city’s Palacio Real de Madrid (the Royal Palace of Madrid) is a good place to start. The palace dates back to the ninth century and is a sight to behold with its elegant columned structures and an interior filled with a wealth of art and decor, most notably works by acclaimed painter Caravaggio. The palace is Europe’s largest by floor area and its impressive walls hold court to many official banquets and state ceremonies. You can purchase a ticket for guided tours or you can choose to walk around the banquet halls and lavish rooms at your own leisure. Madrid is also home to four UNESCO World Heritage Sites. Alcalá de Henares is noted for its rich archaeology and was once the home of famous Spanish writer Miguel de Cervantes. Then there’s the 17th-century Royal Palace of Aranjuez. A residence of the King of Spain, this spectacular palace and grounds is open to the public as one of the Spanish royal sites. Toledo, meanwhile, is the most visited city in Madrid’s vicinity, boasting an 11th-century mosque and a 13th-century cathedral. There’s also daily trips available to Segovia where you can see its famous Old Town, Roman aqueduct, medieval walls, Romanesque churches, former royal palace and Gothic cathedral. InBUSINESS | Q3 2015

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LIFESTYLE: travel

WHERE TO

The Madrid natives, ‘Madrileños’, generally leave the city in August, ensuring that their holidays coincide with the extreme summer temperatures.

MEET...

NH Eurobuilding This stylish retreat located in the city’s financial district is the perfect location for a business meeting. With excellent services such as 27 state-of-the-art function rooms with holographic technology, all your business meeting needs will be catered for. www.nh-collection.com

EAT...

El 38 de Larumbe Immerse yourself in the city’s culture by trying some of its traditional Spanish cuisine and fine world food at the El 38 de Larumbe. Have an after dinner drink in the relaxing lounge surrounded by beautiful minimalist and modern interiors. www.pedrolarumbe.com

SLEEP... Other landmarks worth a visit in the city are the Royal Theatre, the beautiful Buen Retiro Park and the Golden Triangle of Art, which comprises three museums; the Prado, the Reina Sofia and the Thyssen-Borenmisza, featuring classical, pre and post-20th century paintings, a must-see for art aficionados. For something a little different, check out Malasaña. With its ethnic restaurants, traditional bars, retro food shops and bohemian cafés, it makes for some vibrant street scenes at any time of the day. InBUSINESS | Q3 Q2 2015

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Getting Around

Ryanair operate two daily flights between Dublin and Madrid, and from the end of October will operate three daily flights. Aer Lingus fly direct from Dublin to Madrid daily.

EMT bus network. operates 24 hours a day, and services the city centre, suburban areas and the airport.

Navigating the city is easy enough thanks to the metro system, local railways and bus networks. The Empresa Municipal de Transportes, or EMT, is the city’s bus network. Operating 24 hours a day, it services the city centre, suburban areas as well as the airport. Many of the main sights of Madrid are also accessible by bike if you’re looking for a truly authentic experience. When it comes to retail, Madrid offers a host of the world’s top designer brands in the Salamanca District. The luxury end stores are located on Calle Serrano while the

Catalonia Plaza Mayor Located in the centre of Madrid, the stylish fourstar Catalonia Plaza Mayor is a 10-minute walk from the Prado and Thyssen-Bornemisza Museums. Offering a gym, hot tub, free WiFi with modern furnished rooms, you’re guaranteed a comfortable and sound night’s sleep after a long day. www.hoteles-catalonia.com

SEE... Segovia Taking a day trip to Segovia is well worth the effort. There you’ll see its two-thousandyear-old Roman aqueducts, Romanesque churches and stunning castle. You can go by bus or take the Renfe AVE or Avante Train from Chamartin station in North Madrid. The journey takes around 40 minutes. www.visitsegovia.turismodesegovia.com

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LIFESTYLE: travel

DOWNLOAD

BEFORE YOU GO Toledo is the most visited city in Madrid’s vicinity

MADRID SUBWAY Madrid Subway is a comprehensive guide to travelling through the city. It offers an official map of the Madrid subway along with a helpful guide of all subway lines, station locations and destinations in the capital. Available:

| Buen Retiro Park Arganzuela footbridge

MADRID MAP & WALKS This app comes with a detailed and fully functional map to help you explore the city and locate sights through guided walks featuring the best Madrid has to offer, from world famous attractions to hidden gems. Available:

MADRID MAP & WALKS This app provides pictures, info, and a brief review of all the top clubs, bars and restaurants in the city so you can choose the venue to suit your mood. Available:

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high street shops can be found on Gran Via and Calle Fuencarral. Calle Serano also offers a selection of cool bars and restaurants, but you’ll be rewarded with some hidden gems if you’re willing to explore the smaller streets off the beaten track. In terms of accommodation, Madrid doesn’t fall short on choice. The NH Eurobuilding, a four-star hotel located in the city’s financial district, is perfect for a business trip. With a fitness centre, spa and modern conference facilities, you won’t struggle to pass the time. The hotel is also located minutes from Paseo de la Castellana, the city’s main avenue, as well as Real Madrid’s famous Bernabeu Stadium, a must-see for any football fans. For the food-lover, the same hotel houses the

For the food-lover, try the tapas and casseroles for a casual lunch or the best of Spanish and world cuisine for a formal dinner.

three Michelin starred restaurant DiverXO. Be warned though, it’s a popular place and bookings need to be made months in advance. Time is another consideration when it comes to dining. The locals like to eat late and for this reason a late dinner gives visitors the chance to fully appreciate the local experience as the buzz of the city comes alive. There are a host of other great restaurants on offer in the city, as well as stylish cocktail bars if you’re looking for a lively atmosphere. Try Cafeteria La Terraza, where you have the choice of café, cocktail bar or restaurant. There they serve tapas and casseroles for a casual lunch or the best of Spanish and world cuisine for a formal dinner. La terraza del Casino at the Casino de Madrid, meanwhile, offers some of the best local dishes in

a rooftop setting where you can enjoy a panoramic view of the impressive architecture on Calle Alcalá. Serrano 41 is a fantastic spot for an after dinner drink. The stylish bar, which is a frequent haunt for celebrities, is the perfect way to wind down after a long day exploring the city. It stays open until 5.30 in the morning – like most of the nightclubs in Madrid – in case you’re in the mood for a late night. The Madrid natives, ‘Madrileños’, generally leave the city in August, ensuring that their holidays coincide with the extreme summer temperatures. Therefore, a visit to the Spanish capital either side of August is highly recommended, to ensure you have enough energy to avoid siestas and make use of your time to discover the best sights and activities that this lively city has to offer. InBUSINESS InBusiness | Q3 Q2 2015 2014

05/10/2015 13:23

LIFESTYLE: books

BOOKS ON INSPIRATIONAL GAMECHANGERS: How the Best Business Talent Create Astonishingly Successful Companies AUTHOR:

InBUSINESS looks at the latest business books offering great insights for executives, budding entrepreneurs, and other professionals seeking to acquire business skills and knowledge.

WORK RULES!: Insights from Inside Google that Will Transform How You Live and Lead

aszlo Bock is the head of People Operations at Google, which handles in excess of two million CVs per year. After working at McKinsey & Company and General Electric, Bock joined Google in Silicon Valley, where he introduced a new way of analysing, attracting, developing and retaining talent. Given that Google has become one of the global companies synonomous with transforming the workplace, Bock appears to be the man in the know when it comes to attracting top talent. In Work Rules!: Insights from Inside Google that Will Transform How You Live and Lead, he explains Google’s vision for recruiting, training, and optimising a staff that repeatedly identifies the company as the best place to work. Google might seem like a cult more than a company at times, but this book is required reading for entrepreneurs and business leaders who are seeking new modes of innovative thinking and ways to manage talent in modern times.

AUTHOR: Laszlo Bock PUBLISHER: Twelve Books RRP: 22.50 AVAILABLE: Eason

YOUR TRAVEL COMPANION Ghosts of Spain: Travels Through A Country’s Hidden Past AUTHOR: Giles Tremlett PUBLISHER: Faber AVAILABLE: All good bookshops

This book by the Madrid correspondent for the Economist is essential reading for anybody really looking to get under the skin of the Spanish psyche. It covers everything from religion to sex to terrorism.

InBUSINESS | Q3 2015

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Inspirational Gerry Thompson Gamechangers is & David W. a collection of 30 Mellor profiles of successful PUBLISHER: figures in the Financial Times Publishing world of business, RRP: based for the most 20 part on interviews AVAILABLE: amazon.co.uk with the subjects. These subjects are categorised under the headings of trailblazers, values led businesses, community players and up-and-coming influencers, and include household names such as Richard Branson, James Dyson and Arianna Huffington. The profiles do lack the colour of an interview style approach or even first-person accounts, which we saw in the excellent Getting There by Gillian Zoe Segal (reviewed in our last issue). Nonetheless, the book is still worth a read for a valuable insight into what was behind the success of some of the world’s best business brains.

PostCapitalism: A Guide to Our Future

“Almost unnoticed, in the niches and hollows of the market system, whole swathes of economic life are changing.”

AUTHOR: Paul Mason PUBLISHER: Allen Lane AVAILABLE: All good bookshops

In his new groundbreaking book, Paul Mason’s thesis is this: capitalism has reached the end of its development and a new socio-economic system will emerge from its ruins. The outspoken economics editor of Channel 4 News says the key driver of such change is technology, which is destroying existing economic relationships and enabling new ones to take their place. The task is how to ensure that this new society is a more just and harmonious one.

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attire

CODE

LOOKS WITH THREE VERY DIFFERENT PURPOSES BUT ALL WITH AUTHORITY, STYLE AND EVEN COMFORT. STYLING RACHEL MURRAY

Soft Oxford Shirt, 120, Ted Baker

BUSINESS CASUAL

Burgundy Polo Knit, 35, Oasis

Wool Ombré Blazer, 420, Ted Baker

Ted Baker Blue Suede Boots, 169, Arnotts

Striped Leather Document Bag, 210, Ted Baker Cross Hem Skirt, 64, Oasis

Black Leather Heeled Chelsea Ankle Boots, 75, River Island

Paul Smith Polka Dot Socks, 25, MrPorter.com Bryony Embellished Belt, 12, Accessorize

Event Attire 140

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Black Caged Strappy Heeled Sandals, 80, Brown Thomas

McQ Metallic Cross Body Clutch, 500, House of Fraser

InBUSINESS | Q3 2015

05/10/2015 13:28

BUSINESS PROFESSIONAL

George Cleverly Leather Oxford Shoes, 625, MrPorter.com

Button Cuff Funnel Neck Jumper, 34, Topshop Wide Leg Trousers 49.95, Zara

Larsson & Jennings watch 292, Harvey Nichols

Grey Courts, 105, Dune

Canali Milano Suit, 1,305, MrPorter.com

Zegna Milano Suit, 1,800, Brown Thomas

Eton Twill Bow Tie, 65, Brown Thomas Acqua Di Parma Colonia Eau De Cologne Spray 80, House of Fraser

InBUSINESS | Q3 2015

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Paul Smith Starling Plain OIxford Shoes, 250, Brown Thomas

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THE LAST WORD

packages coffee beans and whole-leaf teas and supplies around 1,200 businesses in Ireland. It’s won multiple awards for its products; when we spoke Java Republic had just won Ireland’s top accolade for its Rwandan coffee in the prestigious Great Taste Awards.

COFFEE CULTURE

Grace O’Shaughnessy, Managing Director of Java Republic, talks to VALERIE JORDAN about coffee, fair trade, the rise of café culture and that old conundrum of work-life balance.

race O’Shaughnessy could have it on tap, but the Managing Director of Java Republic is scrupulously restrained when it comes to her coffee consumption. She rises at 5.30am and is straight to the office yet allows herself a maximum of two cups a day – even though it is available at the coffeeroasting company’s HQ. After that she switches to tea – liquorice green tea her favourite at present. “I live life by plans, and I am extremely organised,” says O’Shaughnessy on achieving a healthy work-life balance. “I find

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by planning weekends, evenings and holidays I have more time to do things. I always want to get the most out of my time off, whether it be with family, friends or for chores. One of the best bits of advice I’ve been given about business is that done is better than perfect – sometimes what you don’t do is as important as what you do do!” Recently she has also been insisting on a good lunch break away from the desk. “I was an offender here for years,” she admits. “Then in January, I completed a course with Enda McNulty and his team at Motiv8 on sustaining peak performance. Now

I set myself some daily key performance rituals and have stuck to them rigidly. I review my work and personal goals for the week ahead and review the previous week. I also note what I’m grateful for every week and this keeps me grounded. “I keep a daily journal of what I eat and what exercise I do – I enjoying running and yoga – and this keeps me in check. We have quite a bit of role reversal in our house: I have a little girl, Emilia, who is five; my husband Stephen does the school runs and he is someone who loves to cook, so he ensures we have well-balanced meal times. This has freed up my time to focus on my career.” O’Shaughnessy has a background in food science and years of experience in the food industry. She worked with Kylemore Foods and Lir Chocolates before joining Java Republic in 2006. The company sources, produces, blends and

As Ireland moves on from the jar of instant coffee and brews beyond Barry’s or Lyons, tea and coffee poses huge potential. The value of branded coffee outlets is estimated at €284 million today and expected to rise to exceed €360m by 2020. “There are over 20 roasters in Ireland such is the opportunity in the marketplace,” says O’Shaughnessy. “People are seeking out good quality coffee not just in cafés, but in restaurants, hotels and pubs. Consumers want knowledge and they want to be educated when it comes to coffee: they want to know where their coffee comes from, its taste profile – it’s become a talking point. “As a roaster we have a responsibility to educate the consumer and give them as much knowledge about the coffee origin, roasting profile and how it should taste in the cup. Training our baristas is a must in the industry: baristas are becoming more and more the decision-maker when it comes to the coffee menu and origin of coffee. They are getting more involved with their roaster to deliver a coffee for their clients and they are able to talk about it with confidence.” InBUSINESS | Q3 2015

05/10/2015 13:17

THE LAST WORD

COFFEE WITH A CONSCIENCE Since the beginning CSR has always been a key component of Java Republic’s ethos. It is committed to fair trade, sourcing its beans from recognised ethical traders, sustainable farms and cooperatives. It openly shares the purchase price of its coffee, and has supported more than 1,000 people through Coffee Kids, an organisation that helps women in coffee-growing communities to learn a new skill to ensure they can support their families. Java Republic has cooperated with Plan Ireland since 2005; for one project it raised more than €130,000 and brought fresh water to the Ethiopian village of Illili Darutu. At home it supports a range of charities and fundraising coffee mornings.

TEA TOO Aside from roasting coffee Java Republic also sells whole-leaf teas, launching a range of 18 organic teas in May 2014. “In an industry where there is little development or education for the consumer, it has been a category that has grown beyond our own expectations, so much so, we are launching a further 30 organic teas later this year. This has opened a lot of doors to new business in accounts where we previously had no connection. The tea quality and packaging is unrivalled in our market so people have sought us out,” asserts O’Shaughnessy. InBUSINESS | Q3 2015

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Java Republic also runs The Roastery café in Ballycoolin, selling its teas and coffees alongside breakfast, lunch and snacks. While there, customers can see the beans being freshly hand-roasted. The company is now in the process of opening a second café in Dublin’s city centre. Running the cafés is not just a platform to showcase its product and communicate its brand message but also to understand the needs and challenges of the businesses to which it supplies. Its other recent coup is becoming the chosen partner of Aer Lingus to offer freshly ground filter coffee on board all of its European ﬂights. Each cup contains ground beans sealed in the base; it is then freshly brewed for each customer and filtered through an ingenious lid with a built-in filter. It is, says O’Shaughnessy, “a great opportunity for our brand to get into the hands of a captive audience of thousands but also a great opportunity for Aer Lingus to give their clients a great coffee in ﬂight.” New accounts, new ventures and an addition to the awards list, it’s no wonder Java Republic’s MD is feeling buoyant about business. “Ireland’s coffee-shop market is now outperforming the Irish retail sector by 14 per cent according to the Allegra World Coffee Portal. People are spending again. Coffee has been a good indicator of spending habits and we are feeling this positivity.”

Grace O’Shaughnessy, Managing Director, Java Republic

The Irish Coffee Shop Market

€284m

472

Estimated value

Branded outlets

750

€610m Estimated

Branded outlets estimated for 2020

71%

of consumers visit coffee shops once per week or more

turnover for 2020

Allegra World Coffee Portal, Project Café Ireland report, 2015

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THE InBUSINESS INDEX

ATTRACTING HIGH-VALUE FDI In this issue, InBUSINESS explores data from IBM’s 2015 Global Locations Trends report.

3 8

2 9 7

2nd

1st Ireland

6th Netherlands

5.31

3rd

Switzerland

4th Sweden

5.65

8th Hong Kong

Lithuania

5.5

5.32

9th Finland

5.04

1st

Denmark

5.57

7th

5th

5.04

10th India

5.04

5th

Germany

5.01

9th

IRELAND

LITHUANIA

INDIA

This is the fourth year that Ireland has been named as the top-ranking destination by quality and value of investments. The report says that Ireland continues to attract investment projects in industries characterised by high-knowledge intensity and economic value added, such as life sciences and information and communication technology.

Lithuania has jumped 29 places to see itself positioned with some of the major global economies when it comes to attracting high-value FDI. The country’s largest growth has been in software design, development and testing projects, which is closely linked to the arrival of a number of new investors in the computer games sector.

The continuous inflow of high-value FDI in India, which is now allowed across several industries, shows the faith that overseas investors have in the country’s economy. It jumps 27 places from last year as foreign companies continue to take advantage of lower wages and special investment privileges such as tax exemptions.

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ABOUT IBM’S 2015 GLOBAL LOCATIONS TRENDS REPORT In 2002, IBM-PLI initiated the Global Location Trends database, which tracks announced decisions of companies to locate new operations in regions outside of their headquarter region and country. IBM-PLI’s analysis of volumes of foreign investment focuses on job creation, which they believe is the best indicator of the local economic impact of the investment. Data from the Global Location Trends database are used to inform companies and policymakers on investment dynamics in regions of interest. More information can be found at www.ibm.com/gbs/pli

InBUSINESS | Q3 2015

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Save the Date!

Save the Date

10 - 11 Nov 2015. RDS, Dublin

INFRASTRUCTURE. SERVICES. SOLUTIONS. Whether you’re running a couple of stacks, a nationwide network of comms rooms, a small datacentre or a mega-shed, you face similar challenges: to operate more sustainably, boost efficiency and cut costs… All without compromising speed, resilience, service continuity or security. DataCentres Ireland Conference & Exhibition is where you can get the knowledge, ideas and see the technology that can help you.

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