Tag: #SMEs

SMEs – sustainability can lead to cost savings in the long run

Pat Kane is a sustainability advocate and strategist, speaker, writer and the founder of reuzi, a business that has evolved to become a whole hub for environmental living and awareness. 

Here Pat writes about sustainability for SMEs – and while some SMEs may perceive sustainable practices as costly, the reality is that they often lead to cost savings in the long run.

Sustainability is no longer a buzzword reserved for large multinational corporations or niche industries; it is a critical business imperative that small and medium-sized enterprises (SMEs) cannot afford to overlook. As global awareness around environmental and social issues grows, SMEs are increasingly recognising that sustainable practices are not just ethically sound, but also economically advantageous. The integration of sustainability into the core strategy of an SME can unlock new opportunities, enhance brand reputation, and build resilience against future challenges.

The importance of sustainability for SMEs stems from several interrelated factors. First and foremost, consumers are becoming more discerning, favouring companies that demonstrate a commitment to sustainable practices. This shift in consumer behaviour is not a passing trend but a fundamental change in how people choose to spend their money.

SMEs that fail to adapt risk alienating a significant portion of their customer base.

Regulatory landscapes are also evolving, with governments around the world implementing stricter environmental and social governance (ESG) requirements. SMEs that proactively embrace sustainability will find themselves better positioned to comply with these regulations and avoid potential penalties.

Another critical factor is the financial implications of sustainability. Although some SMEs may perceive sustainable practices as costly, the reality is that they often lead to cost savings in the long run. Efficient resource management, waste reduction, and energy-saving measures can significantly lower operating costs. SMEs that incorporate sustainability into their operations are more likely to attract investment, as investors increasingly prioritise companies with strong ESG credentials. These companies are viewed as lower risk, given their proactive approach to managing environmental and social issues, which can lead to better financial performance over time.

Starting on the sustainability journey might seem daunting for SMEs, especially given limited resources and expertise compared to larger companies. However, the key is to start small and gradually build upon those efforts. The first step is to assess the current environmental and social impact of the business. This could involve evaluating energy usage, waste production, supply chain practices, and community engagement. Identifying areas where improvements can be made will provide a clear roadmap for action.

Once the assessment is complete, setting achievable goals is essential. These goals should be specific, measurable, and aligned with the company’s overall business strategy. For example, an SME might commit to reducing its carbon footprint by a certain percentage within a set timeframe or to sourcing a portion of its materials from sustainable suppliers. These goals should be revisited regularly to track progress and make adjustments as needed.

Learning from SMEs that have already embarked on their sustainability journey can provide valuable insights and inspiration. Take, for instance, the story of Innocent Drinks, a UK-based company that started as a small business and has grown into a well-known brand. From the outset, Innocent Drinks placed a strong emphasis on sustainability, using 100% recyclable packaging and committing to sourcing ingredients ethically. Their approach to sustainability is deeply embedded in their brand, which has resonated with consumers and contributed to their success.

Pat Kane

Patagonia is another great example that, while larger, offers lessons in transparency and ethical business practices. They started with small steps like using organic cotton and recycled materials, which over time evolved into a comprehensive sustainability strategy. SMEs can take inspiration from Patagonia’s gradual, transparent approach to incorporating sustainability, understanding that the journey does not have to be perfect from the outset but can develop and improve over time.

Finally, it is important to remember that sustainability is not just about environmental impact; it encompasses social responsibility as well. This means that SMEs should consider how their operations affect employees, communities, and society at large. Building a sustainable business model involves fair labour practices, community engagement, and contributing to the broader social good.

I think it’s fair to say that sustainability is crucial for SMEs not only to stay competitive and compliant in a rapidly changing world but also to ensure long-term viability and success.

Starting with a clear assessment, setting realistic goals, and learning from those who have successfully integrated sustainability into their business practices can set SMEs on the right path. The shift toward sustainability is an ongoing journey, one that offers SMEs the chance to innovate, build stronger relationships with customers and stakeholders, and contribute positively to the world.

Pat Kane bio

Pat Kane is a sustainability advocate and strategist, speaker, writer and the founder of reuzi, a business that has evolved to become a whole hub for environmental living and awareness.

reuzi exists in both the real and virtual worlds, with pop-ups, some very exciting in-store concessions and a busy online presence.

Pat’s mission is to inspire and empower individuals and businesses to drive positive impact through a wide offering of sustainable products and strategic services.

Pat is also a partner and Chief Sustainability Officer for environmentally-focused consultancy, Pragmatica. Pragmatica aims to support organisations from family businesses to SMEs to large corporations, on how to improve their green credentials.

For more see: https://www.instagram.com/iampatkane/

SD Worx invests €3M to expand payroll services to SMEs in Ireland

SD Worx Ireland, the leading payroll and HR solutions provider, has announced that it is investing €3 million to expand its payroll offering and roll the service out to small and medium-sized enterprises (SMEs) in Ireland. Historically servicing medium and large enterprises of over 250 employees, SD Worx’s innovative payroll solution is now available to SMEs across all industries.

The investment will span five years across technology, services, and people within SD Worx Ireland. During this timeframe, the company forecasts that 20% of its business will stem from SMEs and expects revenue growth from the SME sector of 60% per year.

Driving the demand for the service among SMEs in Ireland are new reporting regulations, such as gender pay gap reporting. This requires increased payroll visibility and accuracy and applies to SMEs with over 150 employees for the first time this year, and those with more than 50 employees in 2025. Meanwhile, legislation relating to statutory sick pay and upcoming auto-enrolment for pensions brings additional administration, meaning smaller businesses may not have the necessary internal resources to keep pace with the rate of change.

In addition to these challenges, according to SD Worx’s Payroll Proficiency in Ireland report, the movement of personnel within organisations, such as joiners or leavers, is making payroll handling more difficult for a quarter (25%) of businesses in Ireland. Meanwhile, the administration of employee presence and absence (cited by 56%) was ranked as the process that complicates payroll the most. Data collection and access to, or integration of, data sources was also signalled as a challenge by 51% of organisations.

SD Worx’s €3M investment will ensure that all organisations, no matter their size, have access to the same resources as larger enterprises in overcoming these challenges. The company’s investment covers the establishment of a dedicated team to support SMEs in Ireland, customisation of operational design, and technology upgrades. With these enhanced capabilities, within the next 12 months, the company expects to grow its customer base by up to 50 SMEs in sectors such as retail, hospitality, and construction, as well as customers in financial and professional services.

The establishment of its SME service comes at a time when SD Worx is on an aggressive growth path in Ireland and will support its strategy in this area. In February, SD Worx announced that it will create 40 new jobs in Ireland in the next two years, growing its team to 115 as part of a €2.9M investment in its workforce. Ireland’s fastest-growing payroll technology company, SD Worx has been operating in Ireland for nearly 30 years, previously as Intelligo until it was acquired by SD Worx in 2022. Its enterprise-grade payroll solution pays one in five employees in Ireland’s corporate sector.

Eimear Byrne, Country Lead, SD Worx Ireland, said: “We have scaled up our own capabilities so that businesses who may lack the necessary internal resources can keep pace with evolving payroll trends and requirements. SD Worx aims to empower SMEs to focus on their core business activities while leaving the complexities of payroll management to trusted professionals. Our new offering means that amid intense competition for top talent, increasing regulations and rising costs, SMEs can continue to grow and thrive with on-hand payroll support and cost certainty.

“SMEs can often be stretched in terms of resources and this enhanced service will provide peace of mind for those who seek the reliability we offer by never missing a pay date or Revenue submission. The service will also guarantee that SMEs are compliant with regulations and effectively safeguarding confidential company and employee data. We are looking forward to working closely with organisations in the SME space to drive value and underpin their continued success.”

SD Worx’s flexible and scalable managed payroll service relieves pressure on businesses, reduces administrative burdens, and frees up resources that can be refocused elsewhere in the organisation. SD Worx’s outsourced payroll solution is updated in line with the latest legislation, ensuring customers remain compliant. SD Worx also has a dedicated expert team in place to support growing organisations.

SD Worx’s managed payroll offering is built on highly secure MegaPay software and protects customers’ sensitive information, with all data securely hosted in Ireland. In addition, a fixed monthly cost provides price transparency for businesses.

PayPal study: SME owners in Ireland are prioritising tech investments to drive growth

Small and medium-sized enterprises (SMEs) in Ireland that sell online appear to be experiencing a growth period, with 96 per cent seeing an increase in online sales over the past 12 months. A similar proportion (95%) are feeling optimistic about the growth of their business over the next year.

PayPal’s 2024 ‘Business of Change Report’* revealed that on average, SMEs selling their products or services in international markets generated €240,605 in the last 12 months. Those surveyed that don’t currently sell internationally, but are planning to do so in the future, estimated that the move would generate €122,728 annually for their business.

Cross border trade a catalyst for growth

Further exploration into the prevalence of international commerce uncovered that half (50%) of SMEs in Ireland are presently engaged in international sales, with an additional 30 per cent intending to do so within the next year. Among those already selling internationally, 77 per cent have experienced a surge in international sales volume over the past three years.

The primary impetus behind international expansion is the belief that Ireland is strategically positioned to seize opportunities in global markets (41%). However, a significant 31 per cent of those surveyed indicated that their survival hinges on international expansion.

Not surprisingly, 34 per cent of SME owners prioritise delivering an improved customer experience as a crucial factor for business expansion—second only to providing high-quality products or services, which garnered 38 per cent. Rounding out the top five priorities were adopting emerging technologies, utilising online marketplaces, and ensuring affordability of products or services, each at 32 per cent.

Concerns and challenges

While there is a general feeling of optimism, almost a quarter of SME owners (23%) cited poor purchasing processes for customers as a top barrier to future business growth. Meanwhile, more than a fifth (22%) identified that they lack the skills or resources to fully leverage online platforms.

 As well as internal factors, external trends most impacting SMEs in Ireland that sell online are:

  • A rising demand for more payment methods (such as buy now pay later and digital wallets like PayPal) – 40%
  • More people wanting discounts, promotions and deals – 38%
  • Customers wanting more convenience (such as click and collect, and package tracking) – 37%
  • Three in 10 (30%) are concerned with the trend that fewer people are converting at checkout – more browsers than buyers.

SMEs prioritise tech investments for future growth, eyeing AI, VR experiences

Looking forward, the vast majority (92%) of SME owners prioritise technology investment for their business’s future growth. Nearly a quarter (23%) desire to allocate resources to Artificial Intelligence or Machine Learning, while 21 per cent plan to invest in Virtual Reality experiences.

Regarding specific areas earmarked for investment within the next year to bolster expansion, 38 per cent plan to prioritise enhancing their online presence. Following closely are investments in marketing (33%), additional shipping/delivery capabilities (32%), team expansion (32%), and social commerce (31%).

Moreover, 27 per cent intend to invest in ecommerce capabilities, with secure payment methods and international sales processes on the agenda for 26 per cent of SME owners surveyed.

Jonas Breding, General Manager, PayPal Northern Europe shared, “For over twenty years, we’ve been a trusted partner for Irish entrepreneurs and ecommerce businesses. We recently launched PayPal Complete Payments, our most advanced offering in the market. Our comprehensive solution fosters growth, provides advanced fraud protection, and streamlines cross-border trade, empowering entrepreneurs to thrive.”

For more information, visit https://www.paypal.com, https://about.pypl.com/ and https://investor.pypl.com/.

Google launches dedicated AI training module for SMEs in Ireland

Widespread adoption of generative AI has the potential to boost Ireland’s GDP by up to €45 billion (8%) in ten years, according to a report conducted by Implement Consulting Group and commissioned by Google. The increase is predominantly driven by a productivity boost to two-thirds of Ireland’s workers. The report is part of a comprehensive study carried out between November 2023 and March 2024 that unveils the transformative economic potential of generative AI in the EU. Several countries, including Ireland, were analysed across the following areas:

 

  1. The economic impact of AI

  2. The impact of AI on jobs

  3. Key sectors benefiting from AI adoption

  4. AI readiness

  5. AI and societal challenges

 

Economic impact

The 8% increase in GDP is largely attributed to a productivity boost to the majority of workers (66%) by augmenting their capabilities and enhancing efficiencies. The calculation takes into account the impact of re-employment of a small share of workers. At its peak, the productivity effect of generative AI in Ireland is estimated to be equivalent to 1.4% of GDP annually. A five-year delay in capturing the benefits of generative AI is estimated to reduce the GDP growth potential from 8% (€40-45 billion) to only 2% (€8-10 billion).

Peter Burke T.D., Minister for Enterprise, Trade and Employment:

“AI offers the potential to deliver a step change in productivity and growth in business, including for our SMEs. Our goal is for Ireland to be a leader in adoption of human-centric, trustworthy AI, as set out in our National AI Strategy, ‘AI – Here for Good’.

AI technology is clearly an enormous opportunity, and we must act now to seize the opportunity in order to harness AI technology for the good of both our economy and society. I welcome the publication of this research and Google’s engagement to support Ireland’s small businesses.”

Job implications

Most jobs in Ireland (66%) are expected to be assisted by generative AI – automating a limited share of tasks and helping to create content including text, code and images, and collaborating with workers on complex problems. Unlike previous waves of automation that mainly impacted manual workers, generative AI is expected to primarily affect office-based professionals. An estimated 28% of jobs in Ireland are likely to remain largely unaffected by generative AI. These jobs include manual labour, outdoor tasks, such as construction and cleaning, and human-to-human tasks, such as personal care and food services. A small share of jobs (6%) are expected to have over half of their activities exposed to automation by generative AI.

Key sectors benefiting from AI adoption

The complementary role of generative AI means it can boost productivity across all sectors. Due to the vast size of Ireland’s manufacturing sector (45% of Irish GVA), this is the area that holds the largest economic potential, where generative AI is estimated to boost annual productivity growth by 1.2% at peak, representing an increase of €15-16 billion. In contrast to past automation, such as robots, generative AI has the ability to boost productivity in the service sector, and many other countries are expected to see the greatest economic gains there.

AI Readiness

When it comes to AI adoption in Irish enterprises, Ireland is on par with the EU average level of adoption at 8%, but lags behind Northern European frontrunners such as Denmark (15%), Finland (15%), and Belgium (14%). In terms of research and development, Ireland cannot compete with large economies, such as the United States, and will therefore be dependent on EU-wide initiatives. Current gaps suggest that Ireland needs to focus on strengthening AI-related innovation drivers, such as the build-up of AI-related talent and research.

Google has today announced a new AI education training pillar for SMEs in Ireland. ‘Get ahead with AI’ is a module offered as part of You’re the Business, Google’s digital upskilling programme delivered in partnership with Enterprise Ireland and the Local Enterprise Offices. The resource, available free of charge, provides on-demand training, educational resources, and tools to help SMEs use AI effectively for their businesses. More information is available at g.co/yourethebusiness.

Societal challenges

Generative AI can help us address societal challenges like climate change enabling Ireland to achieve its goal of carbon neutrality by 2050. Agricultural emissions can be reduced by AI, where machine learning algorithms allow precision farming practices that are more eco-friendly. It can optimise critical resources in the healthcare sector leading to enhanced patient care. AI can also contribute to  a more equitable society – early studies suggest that generative AI can help close the skills gap for those with the lowest skill levels.

Vanessa Hartley, Head of Google Ireland said:

“For the past twenty years, Ireland has been at the forefront of the digital age, embracing new technology and leading innovation in Europe . Today we are at an inflection point and we have an immense opportunity to ensure Ireland remains at the heart of this next transition to AI.

“It is not too late to be early with AI. At Google, we’re approaching this work boldly and responsibly and we are committed to ensuring that Ireland remains a digital frontrunner. Which is why today we are launching a new AI education pillar on You’re The Business  to help SMEs use AI effectively for their businesses. “

Martin H. Thelle, Partner at Implement Consulting Group:

“Ireland should seek to leverage the national presence of multinational tech giants by incentivising partnerships and mentorship programmes between these corporations and SMEs. This can facilitate knowledge transfer, provide access to advanced AI tools and resources as well as encourage the development of AI-based business models in the start-up ecosystem.”

Information on You’re the Business is available at g.co/yourethebusiness.

Urgent Need for Improved Data Utilisation Across Businesses, from SMEs to Corporations, TEKenable Survey Reveals

A TEKenable survey, in collaboration with Microsoft unveiled the urgent need for improved data utilisation across businesses, from SMEs to Corporations.

This survey examined the understanding, challenges, and implementation of Customer 360 across diverse organisational landscapes. The survey involved 201 SMEs and Corporations, with varying proportions across management levels and industries.

The survey results illuminate nuanced perspectives between SMEs and Corporations and disparities across management levels regarding the benefits of addressing challenges associated with the Customer 360 view.  SMEs, constituting 60%, exhibit a stronger belief in the significant contribution of Customer 360 to enhanced customer engagement while Corporations, at 40% are more sceptical, potentially influenced by the complexity and costs associated with implementing and maintaining Customer 360.

Management levels further reveal varying degrees of recognition, with the C-Suite and senior management holding a more positive view than first-line managers, emphasising the need for comprehensive education and engagement strategies.

The types of data used in business also vary, the survey found.  SMEs predominantly used transactional data (27%,) less frequently employing behavioural (10%) and demographic (8%) data.  Contrastingly, corporations showed a more varied usage pattern, with behavioural data (20%) and demographic data (10%) being more prevalent.

SMEs found Customer 360 most beneficial for financial decisions (77.8%) and service excellence (64.3%).  Customer 360 helped SMEs make more informed financial decisions by providing insights into customer behaviour, preferences, and spending patterns which helped to optimise pricing, marketing campaigns, and product offerings to improve profitability.  It also provided better customer service by providing a single view of each customer’s interactions with the company.

Corporations attributed significant impact to data-driven insights (63.2%) and campaign effectiveness (100%).  Customer 360 provided corporations with a wealth of data that was used to gain deep insights into customer behaviour, preferences and trends.  It also helped them measure and optimise the effectiveness of marketing campaigns by providing data on customer engagement, conversion rates, and ROI.

Concern about the need to protect data is also acting as a barrier to the adoption of Customer 360 with 58.3% of SMEs seeing data security and compliance as the main challenge while 41.7% of corporations identify it as the primary obstacle.

The lack of a single customer view is a significant challenge for SMEs, with nearly half (43%) of respondents identifying it as their primary challenge. Corporations als find achieving a single customer view a significant challenge, with over half (57%) of respondents identifying it as a major issue.

“From SMEs to Corporations, the imperative for improved data utilisation isn’t just a matter of growth – it’s about staying relevant in an increasingly customer-centric landscape,” explains Nick Connors, Group CEO at TEKenable.  “While our research shows that investment in Customer 360 is rising, education and engagement strategies need attention.”

A further issue identified by the survey was a widespread inability to make data-driven decisions.  66.7% of SMEs say this was their main challenge, while 33.3% of corporations share this view.

Google-led initiative to support Irish SMEs returns for second year

Google, Enterprise Ireland and the Local Enterprise Offices are renewing their partnership to help upskill Irish SMEs by launching the 2023 You’re The Business competition. This initiative will reward businesses across Ireland that have demonstrated a commitment to digital at different stages of their journey, from those who have launched a website through to those who are just starting to export.

SMEs will be invited to submit a video no longer than two minutes in duration detailing what their business means to them as well as an example of how they have used digital to enhance their business. Entries are open now until October 31st 2023.

The successful SMEs selected by a panel of established judges, will receive a digital support package from Google which includes a €1,000 Google ads package as well as expert mentorship across a range of technical areas that will help them to develop their business. An additional prize of a video creation kit will also be awarded to one SME that has demonstrated great efforts in promoting their business online.

Cera Ward, Managing Director at Google Ireland  said: “Google is committed to supporting Irish SMEs upskill. We were so inspired by last year’s entries that really showed how SMEs strived to get their business online and how being online has helped them to succeed and grow, both domestically and further afield. We are excited to launch this year’s competition and look forward to learning about more SMEs, their challenges, and digital ambitions. Google wants to support these companies as they take the next steps on their digital journey.”

John Magee, Chair of Local Enterprise Office Network said: “The digital transformation of Irish businesses is essential for their future success and the Local Enterprise Offices have been to the fore with a range of supports to enable businesses get online and maximise their online presence with the likes of the Trading Online Voucher and our Digital Start programme. We are committed to helping Irish businesses thrive in a digital world, and this initiative in partnership with Google is just one of the many ways we continue to support our clients on their digital journey.”

Speaking at the launch announcement, Caryna Camerino of Camerino Bakery said:  “Our website was designed to be our virtual shop window, allowing customers to customise their ideal celebration cake. Going digital meant that our online sales could continue smoothly while we grew the business and opened our new cafe in the Irish Museum of Modern Art. With Google’s help, we are now looking to reach new customers via online marketing, newsletters, and email campaigns”.

Entries are open now with further information on the You’re the Business competition available at: g.co/yourethebusiness

Deadline

Entries are open until October 31st 2023.

How to enter

SMEs to outline how digital has helped their business so far by answering these questions in a short video (two minutes or less):

  • What does your business mean to you?

  • What one change have you made to grow your business online?

  • What opportunities could growing online create for you?

SMEs will be asked to upload the video to YouTube – details on how to upload are here. All videos must be original content only (including use of music), and should be a maximum of two minutes in duration.

Evaluation

Judges will appoint winners based on the following criteria:

  1. Demonstrate how digital skills have helped their business to grow and succeed.

  2. Have an inspirational story about how getting their business online has helped them to succeed.

Google to host in-person digital training series for SMEs

Google has today announced a new training programme aimed at supporting SMEs in Ireland. You’re The Business Live Sessions, hosted in Google’s Dublin offices, will include five in-person training sessions suitable to SMEs at the early stages of their digital journey right through to those more digitally-sophisticated businesses who are ready to export globally.

The initiative is part of the You’re the Business programme, an initiative created by Google, Enterprise Ireland and the Local Enterprise Offices last year to help upskill Irish SMEs. The You’re the Business programme aims to help accelerate Irish SME growth through digitalisation, which is in support of the Irish government’s ambitious goals around SME digitalisation and internationalisation.

Today’s announcement follows recent Google Search data which found that Irish people are increasingly seeking to gain new certifications, particularly in digital skills. The last year has seen increases in searches for certifications in UX Design (+80%), IT Support (+60%), Data Analytics (+60%) and Project Management (+50%).  There has also been a 180% rise in searches for “artificial intelligence courses” over the last five years, with an increase of 150% for data science-related courses.

Cera Ward, Managing Director at  Google Ireland  said:

“Our partnership with Enterprise Ireland and the Local Enterprise Offices was devised following research last year that identified gaps in the digital capabilities of Ireland’s SMEs. It found that only 45% of Irish SMEs had a website while 50% said they lacked the basic knowledge about which digital skills to prioritise and invest in.  Irish SMEs need support which is why we partnered with Enterprise Ireland to launch You’re The Business last year and we’re delighted to continue our partnership for the benefit of SMEs in Ireland in 2023.”

The first training session will take place on Friday 15 September with live and in-person modules occurring every two weeks in Google’s Dublin headquarters. The five online training modules will help Irish SMEs to:

 

  • Get your business online

  • Help your business grow online

  • Ensure your business is secure online

  • Get your business to go global

  • Boost your productivity with AI

 

To sign up for these live training modules or for further information, please visit: rsvp.withgoogle.com/events/ytblive.

The Innovation Exchange partners with RDI Hub to partner globally ambitious Kerry SMEs with large corporates

Skillnet Ireland has announced the partnership of The Innovation Exchange, with the RDI Hub (Research Development Innovation Hub) based in Killorglin, Co. Kerry.  The Innovation Exchange is Ireland’s innovation marketplace connecting large companies facing digital transformation challenges with technology companies that can fast-track the solution.

As the newest regional channel partner of The Innovation Exchange, the RDI Hub is a world-class centre for design-led, digital innovation located in Ireland’s South West.  It focuses on digitisation, ideation and commercialisation of innovation and research in the Digital, AI, Data and related technologies’ sectors. The RDI Hub is also part of the Fexco’s Innovation division and operates as a not-for-profit public-private partnership with Munster Technological University and Kerry County Council.

There are currently six companies signed up from Kerry; one corporate, Astellas, as well as five SMEs; Graphite Note, Quodos, Galarus, Salaso and Turtle Transformation. Cork-based, RDI hub member Perkforce is also signed up.

The initiative will allow globally ambitious tech SMEs located in Kerry the unique opportunity to pitch to, and collaborate with, large companies looking to access innovation as part of a diverse and curated community of startups and scaleups. As a part of this collaboration, the RDI Hub will bring both corporate entities and scale-up businesses situated in Kerry together as members of The Innovation Exchange, expanding its growing community.

Attending the launch, Norma Foley TD, Minister for Education and TD for Kerry, said: “Ambition in any field should be limitless, but for it to be limitless we must ensure that the right supports are in place. Today we launch The Innovation Exchange, an initiative of Skillnet Ireland. It gives an opportunity to provide a level of support which will be a catalyst for so many businesses to go further and to go beyond; there is great insight here, being provided by the experts. The spirit lauded by this new initiative and development is that together we can go further and further; limitless opportunity, limitless abilities being celebrated and given an opportunity to advance.”

Speaking at yesterday’s announcement, Paul Healy, Chief Executive, Skillnet Ireland said: “Today we see the Innovation Exchange developing its footprint in Kerry as part of our drive for a nationwide expansion of this successful programme. The Innovation Exchange is serving an important role in promoting innovation and economic growth in Ireland by building deep links between SMEs and large corporations, encouraging ideation and facilitating the development of new business projects between these sectors. We encourage local SMEs and larger companies with a presence in the South West to join the programme and take advantage of the many benefits it offers.” 

The aim of the Innovation Exchange is to establish a nationwide footprint by onboarding up to 10 regional channel partners throughout 2023. Earlier this year The Innovation Exchange announced its partnership with the Galway Technology Centre, which supports innovative, global trading companies in the ICT sector. The expansion of The Innovation Exchange, which currently has in excess of 350 participants, will offer even more SMEs access to the programme’s benefits, including an instant sales pipeline, market intelligence and the capability to sell to large companies

Conor Carmody, programme director of The Innovation Exchange commented on today’s news: “We are thrilled to be collaborating with RDI Hub, as we continue to bring our offering to SMEs and corporates across Ireland. Our main focus is to showcase the amazing talent and capabilities of the companies in the region, while also helping them to scale their businesses. We see this partnership with Skillnet Ireland as an opportunity to expand our network and leverage RDI Hub’s resources and expertise to support our members and drive their success.”

Liam Cronin, CEO of RDI, said: “The ethos at the RDI Hub is all about making connections for start-ups, scale-ups, SMEs, corporates, and enterprises to create, digitalise, innovate, and scale businesses for future economies. The Innovation Exchange is a perfect partnership for us as it supports the key focus of the RDI Hub   of creating new jobs, products, and services in the Southwest. This is a fantastic opportunity for agile companies to innovate and solve specific problems for large corporates, and for corporates to gain fresh perspectives on their business challenges.”

Bertie Murphy, Chief Strategy Officer Fexco and RDI Hub Board Director, said: “This new partnership between the RDI Hub and the Innovation Exchange creates a brilliant opportunity for innovation between SMEs and scaled businesses. This reinforces our vision at Fexco for the RDI Hub as a key enabler of innovation. We have already achieved success at the RDI Hub in creating an ecosystem that has generated exciting new technologies, services, and jobs. This announcement provides an opportunity for the RDI Hub to further build on that success and, in addition, facilitate the ability of SMEs to introduce innovative and transformative ideas and services to larger corporations in the region.” 

Skillnet Ireland has committed €5 million to fund The Innovation Exchange which is designed to address the barriers that exist for scaling companies when selling to large companies and multinationals. The programme will support over 1,000 companies between 2022-2025.

Scale-ups and corporates in the Kerry region are being encouraged by The Innovation Exchange to sign up at www.theinnovationexchange.ie.

Skillnet Ireland and IDA Ireland launch collaboration to accelerate disruptive innovation in multinationals through partnerships with Irish SME’s

IDA Ireland and Skillnet Ireland have today announced a new collaboration between IDA Ireland’s Disruptive Technologies Partnering Portal (DTTP) and The Innovation Exchange from Skillnet Ireland. The partnership has an objective to accelerate world class partnerships between multinationals and Irish SMEs in digital, disruptive, and sustainable technology solutions that can drive enterprise competitiveness, growth, and transformation.

The Innovation Exchange – DTPP collaboration provides a new business-2-business engagement framework. This framework enables multinationals to raise business challenges and needs aligned to business objectives and provides a platform for Irish SMEs to present their innovative technology-based solutions to address such.

The engagement framework is enabled by the DTPP, an online searchable platform developed by IDA and Enterprise Ireland that profiles enterprise capacity and needs in digital, disruptive, and sustainable technologies, enabling companies to directly connect for partnership opportunities.

In addition to the DTPP, the engagement framework will include The Innovation Exchange programme, where multinationals will voice their challenges and needs and provide an opportunity for Irish SMEs to present solutions to accelerate innovation within both the large and smaller firms. Under this framework Irish SMEs can avail of mentoring, training and other supports to build the necessary skills to position these solutions to multinationals.

Skillnet Ireland will invest €5 million in The Innovation Exchange over the next 5 years to support more than 1000 businesses, while IDA will continue to offer free access to the DTPP for companies and access to a variety of supports to enable business transformation.  This collaboration between Skillnet Ireland and IDA Ireland is a fantastic opportunity for Irish SMEs and multinational enterprises to work together in partnership to drive digitalisations and collaborative opportunities, utilising the best of the Irish innovative infrastructure.

IDA Ireland’s Michael Lohan, Head of Life Sciences and Talent Transformation & Innovation, commented: “This is a great example of the way the infrastructure works together for the benefit of enterprise. I welcome our on-going and close working partnership with Skillnet Ireland.   A key objective for IDA Ireland is to engage SMEs and multinational companies for the benefit of enterprise and the economy.  Irish companies are innovative and smart and are supporting our multinational community to thrive and innovate in Ireland. This is a very exciting initiative and adds huge value to the DTPP.’

Skillnet Ireland’s Mark Jordan, Chief Strategic Officer, said: “Our focus at Skillnet Ireland is on driving business success and enabling innovation within both multinationals and SMEs. The Innovation Exchange has been very powerful in doing exactly that, by connecting large firms seeking business solutions with SMEs that can provide them. We welcome this collaboration with IDA Ireland which will add greatly to driving innovation across a wide range of areas including digitalisation, climate and advanced manufacturing.”

To find out more about The Innovation Exchange and to apply online, visit https://theinnovationexchange.ie/. To learn more about the DTPP and register your enterprise profile, solution and/or need, visit https://www.dtpp.ie/. Successful application to either programme will enable participants to avail of both initiatives.