Ciarán Cannon (Galway East, Fine Gael) | Oireachtas source

I have three brief questions for the witnesses, the first of which is predominantly for Enterprise Ireland. In regard to venture capital for start-ups, particularly in small market towns in rural Ireland, has the idea of credit union involvement been explored? If it has, I am not aware of it. The credit unions are entities within all towns throughout the country that have an inherent interest in local job creation and in seeing their towns flourish and grow. Has the possibility of combining their funding expertise with the expertise in innovation and marketing and so on of Enterprise Ireland been explored? I believe that would be a potent combination. Has that idea ever been discussed or explored?

Deputy Ó Cuív referred earlier to the turnover limits for some of the larger State contracts tendered for in this country. I know of an innovative company in Athenry that is constantly being turned away from significant investment opportunities because of the turnover limit. This company has huge expertise and incredible affirmation of the quality of its product internationally but when it comes to securing contracts nationally it finds it exceptionally difficult to do so because of what I would argue is an outdated and silly turnover limit provision.

I live in an area located about 20 minutes from Galway city, which is booming in terms of job creation with the assistance of Enterprise Ireland and the IDA. What type of collaboration takes place between the IDA and Enterprise Ireland to determine what local supply chain opportunities occur for local companies when a large multinational locates in Galway, Wexford, Cork and so on? Is there significant ongoing communication between the two entities to determine what the potential supply chain opportunities might be and, if so, how are indigenous companies made aware of these opportunities? Also, what opportunities are presented in terms of the creation of new local indigenous companies?