The content of this blogpost was originally delivered as a welcome to the Founders at the recent Dublin Web Summit. Frank Ryan is CEO of Enterprise Ireland, the Irish Government Agency responsible for the development of Irish Industry.

On Friday, I was humbled by the presence in Dublin of many of the people that have re shaped the way people all over the globe work and interact socially. I hope and believe that in the three days of the Dublin Web Summit  ideas were developed and discussed which will form the next wave of disruptive market led innovation in the internet. The range of topics covered is vast and crucial to the well being of mankind – from changing the world through technology, social entrepreneurship and philanthropy to the future of Mobile, Payments and hopefully the “next big thing”.

One area of particular interest to the Government of Ireland is seeding innovation. In Enterprise Ireland, we have worked in this ever evolving space for 15 years now and today we are the largest seed capital provider in Ireland. We are unique as a Government Agency insofar that we invest in companies (in addition to providing grants for research, innovation and market development). Last year alone we took equity positions in over 70 companies and supported more that 200 start ups. We are dispensing tax payer’s funds so it is only right that we look to try and get some return for the people of Ireland.

As part of our evolution we have looked to the emerging models in the USA and Europe – people like Y-Combinator, Atomico, Techstars to mention a few. We are always talking to the Irish and International start up and VC communities and will be changing to meet your needs.  We have just completed our three year strategy which is due to be signed off by our Board next week and plan to introduce some initiatives which will bring us a wider range of interventions to stimulate the level of entrepreneurial activity in Ireland.

One area of change will be around the conditions we set for funding.  We are trying to manage the delicate balance of giving global entrepreneurs what they want, when they need it against the necessary backdrop of strong corporate governance.  The trick is to get the balance right so we can encourage more entrepreneurial activity while minimising the risk to taxpayer’s funds.

A key pillar of our new strategy will be attracting mobile entrepreneurs to Ireland. IDA Ireland are a sister agency of Enterprise Ireland and responsible for the attraction of overseas Industry to Ireland. We will be targeting overseas start ups – people like you in this room – to come and start your next business in Ireland. We already have great examples where Overseas based entrepreneurs have come to Ireland to set up a business, people like Currency Fair, Waratek, Centric Health & Done Deal.ie.

Ireland is a great place to do business ;When you see the quality of Irish Entrepreneurs exporting world beating products and services all over the world, you know there is something worth looking at. It’s a fantastic place to live, there is a vibrant local tech community – you don’t have to look at more than people like Paddy to see the passion and enthusiasm that exists. I know you will experience the lifestyle first hand on this visit and hope that your experience will speak for itself.

• The World Bank rates Ireland as the easiest place in the European Union (EU) to start a business.
• GEM (Global Entrepreneurship Monitor) report rates Ireland above the EU and OECD for per capita start ups – some great examples of serial entrepreneurs here today like Paddy Holahan, Brian Caulfield, Dylan Collins, Iain MacDonald and Mark Roden.

On a more business like level, our low corporate tax means that the more successful you are the greater the return to your shareholders. Sometimes we like to think the world revolves around us – and logistically it does, 6 Hours direct to USA, no more than 3 hours from the Centre of Europe. EU and Eurozone membership helps with currency hedging and we have a multi cultural multi lingual workforce – just look at the number of International MNC’s here.

On an official level we have supports for you to start your business in Ireland and there will be more in the coming months. Enterprise Ireland has 31 offices all over the World to help Irish company’s open doors and win business – these are available to you when you locate your next start up in Ireland.

We have an active domestic VC industry that will grow to include many international VCs over the coming years. The Irish Government recently made €250m available to match international VC funds locating an office in Ireland. Innovation Fund Ireland is designed to encourage more International VCs locate in Ireland and last month we had our first announcement when Draper Fisher Jurvetson (DFJ) opened an office in Dublin.

Finally I want to congratulate Paddy Cosgrave and his team for putting this Dublin Web Summit together. This summit is a visionary and timely intervention in bringing together so many global thought leaders from the Web community. Enterprise Ireland is delighted to be associated with this conference and look forward to continued support in the years to come.

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Related posts:

1. The future of mobile – Dublin Web Summit Founders event
2. The future of Payments – Dublin Web Summit Founders event
3. Bizcamp 2010 – What happened