BUSINESS
Irish start-ups to tour Silicon Valley
30-07-2007
by Emmet Ryan
Over 150 years after the California gold rush Irish high tech start-ups are heading to Silicon Valley in a bid to help make their fortunes.
The Paddy's Valley tour will see representatives of Irish start-ups meet with leading global technology firms based in Silicon Valley to help build connections and aid them in developing a presence Stateside.
Tour organiser Conor O'Neill told ENN the trip would be educational for those making the journey west and help them to change their working environment back in Ireland.
"We're seeing an awful lot of start-up action in Ireland, particularly from the technology sector, but there isn't a start-up culture," said O'Neill. He said the main reason Silicon Valley was a success was the way entrepreneurs, investors and academia worked together. O'Neill said Ireland had these resources but needed to work on develop the links between the different groups. "We have all the things needed to develop this culture. A bunch of us are going to go over to Silicon Valley to learn about how they work together," he said.
Enterprise Ireland is aiding the trade mission, helping the group meet up with representatives of US based firms.
"We are delighted to see grass-roots initiatives such Paddy's Valley taking place. As the United States is the largest single destination for Irish software exports, representing Irish exports of over EUR500 million in 2006, it is critical for Irish entrepreneurs to think internationally and develop links to the US at a very early stage," said Benjamin Mosse, a market advisor with Enterprise Ireland based in New York.
O'Neill told ENN that Enterprise Ireland's involvement was a significant boost to the trade mission. "Enterprise Ireland's involvement is a big help. They will help people in our group to pitch to venture capitalists, particularly to American venture capitalists who are different to their counterparts in Europe," he said.
O'Neill said the development of links with US businesses was the key aim of the trip and anything else that came from it would be a bonus. "If all we do when we go over is get a bunch of business cards then this trip will have been a success," he said.
The Paddy's Valley tour takes places from 2 December to 9 December. Anyone interested in joining the mission can learn more at www.paddysvalley.org.
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