Enterprise Ireland has announced that it invested €27.6 million in Irish start-ups in 2024, a 15% increase on the previous year, as the agency sharpened its focus on innovation-led companies, particularly in areas such as artificial intelligence, sustainability, and nutrition.
The state agency backed a total of 157 early-stage companies, up slightly from 156 in 2023. Among those, 63 are located outside of Dublin, 45 are women-led, and 25 emerged from third-level institutions, reflecting the government’s broader goals of regional economic development, gender balance, and academic-commercial collaboration.
According to Carol Gibbons, Enterprise Ireland’s spokesperson for entrepreneurship, the supported companies span various stages of growth. “Those start-ups are a mixture of pre-seed companies and early-stage ventures, with up to €100,000 invested by Enterprise Ireland,” she said. “Over 90 of them are high-potential start-ups — innovative businesses gaining traction in global markets.”
Among the stand-out sectors represented in this year’s cohort are food and nutrition, sustainability, and the circular economy. However, artificial intelligence emerged as a particularly dominant theme, with several start-ups using the technology to reshape traditional industries.
One such firm is StyleAI, founded by Aideen Bodkin, which aims to boost revenue in the apparel retail sector through AI-powered personalization. Another is Nexus AI, a science-backed platform focused on nutrition and athletic performance. “That company is incredibly successful,” said Gibbons. “Last week they announced a contract with the IRFU to support both current and pathway players, and we expect further announcements to follow.”
The rise in AI investment mirrors global trends, where intense competition and rapid innovation have marked the sector, despite ongoing debate about long-term applications. Gibbons believes Ireland is well-positioned to nurture such companies. “We’re investing in start-ups that can be internationally competitive. Our strategy aims to create 1,000 new start-ups by 2029 — all with global ambition.”
Amid a changing global trade landscape, Enterprise Ireland is stepping up its support for businesses navigating new challenges. “We’ve launched a dedicated team to advise on trade and tariffs and are working closely with companies in their target markets,” Gibbons said. “We’re telling them to focus on what they can control — from contract details to every link in their supply chain.”
With a network of seven U.S. offices and 34 staff on the ground internationally, Enterprise Ireland continues to position Irish start-ups for growth, despite an increasingly uncertain global economic environment.
