Leo Varadkar (Dublin West, Fine Gael)
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Question 515: To ask the Tánaiste and Minister for Enterprise, Trade and Employment the number of high potential start up companies her Department and its agencies have assisted with funding in 2007 and to date in 2008; and if she will make a statement on the matter. [23052/08]

Mary Coughlan (Donegal South West, Fianna Fail)
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The provision of grant assistance for individual companies is a matter for the development agency or body concerned, and not one in which I have a direct function.

Enterprise Ireland (E.I.) has primary responsibility for Irish companies in the manufacturing and internationally traded services sectors. It supports companies employing 10 or more people and start-up companies which have the potential to employ 10 or more people and reach or exceed €1m in exports over three years.

In 2007, Enterprise Ireland supported 79 High Potential Start-Ups (HPSUs). Over the three years of its 2005-2007 strategy, Transforming Irish Industry, Enterprise Ireland set a target of supporting 210 HPSUs. Enterprise Ireland exceeded this target, supporting a total of 221 companies. Enterprise Ireland also worked with County Enterprise Boards (CEBs), Business Innovation Centres (BICs) and third-level institutions to actively promote the establishment of HPSUs throughout Ireland.

Enterprise Ireland's new strategy, Transforming Irish Industry 2008–2010, continues to place top strategic priority on creating and supporting high potential start-up companies and increasing the number of enterprises that grow in scale to become international organisations.

Enterprise Ireland offers a number of initiatives to encourage and support HPSUs, such as the "Innovative HPSU offer". Under this programme, Enterprise Ireland provides a financial contribution towards a company's business plan where it involves the development of innovative and technological products, services or processes.

Other initiatives include the Enterprise Start Programme, which was developed by Enterprise Ireland and FÁS to help potential entrepreneurs to develop their new business ideas into business plans. The programme is aimed at individuals with new business ideas in technology or knowledge intensive sectors that are capable of achieving export sales.

Another incentive available is the Enterprise Platform Programme, a one-year rapid incubation programme designed to provide hands-on support and management development for entrepreneurs who wish to start their own business.

I understand from consultations with E.I. that the above programmes and initiatives have yielded circa 24 HPSUs to date in 2008 and I am satisfied that these supports along with a wide range of other initiatives, will continue to assist companies to start-up, grow and adapt in today's economic climate.