Seán Kyne (Galway West, Fine Gael) | Oireachtas source

I thank the Minister for his response and I commend the work of the Minister, the Department and Enterprise Ireland and the bodies involved in the seed schemes for start-ups. There have been many positive developments over the past number of years in the area and we have seen the benefits of it.

With regard to the venture capital fund, it depends on when the exit takes place. If it happens early enough there is a period of time to repay the money, but in the example I use the company does not have access until year five and has only a couple of years to pay the money back. There may be examples in which another Irish company buys the company and retains the jobs here, but it would be a shame if the company went through the process only to be gobbled up and the jobs exported.

I will put more flesh on this proposal and submit it to the Minister, the Department and Enterprise Ireland to see what can come of it in terms of protecting jobs that may go overseas.

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