Irish Venture Capital plays a pivitol role in fostering entrepreneurship, innovation and job creation. At Kernel Capital and Seroba Kernel we have in the past 18 months, made 47 investments, in start up and developing companies, each ranging from €250,000 to €2,300,000. This has an important multiplier effect within the Irish economy; helping to create and sustain over 800 high calibre jobs and our portfolio is forecast to grow to employ over 1,000 in the coming 12 months, almost all at graduate and post graduate level. While on the exit side our  Fund I trade sales, such as Stokes Bio, Straatum Processware, Farran technology and Chip Sensors have resulted in the acquiring NASDAQ and LSE quoted companies establishing their first base in Ireland, investing substantially and increasing local employment, again at graduate and post graduate level.

A typical firm is Cork-based Wavebreak Media, which last year received a €250,000 investment from our Bank of Ireland Seed Fund. This investment enabled the stock media company to increase production, recruit more staff and broaden its global distribution network. The company  has a catalogue of over 20,000 HD stock/animation videos and 40,000 photographs which are sold through a distribution network including Getty Images and Corbis Motion. Clients include FoxSports, Channel 4, MTV and the ITN group.  Wavebreak is currently recruiting for a Sales Manager and creative staff (see http://www.wavebreakmedia.com/ for more details).

Another fast-growing Irish business supported by Kernel Capital is Kilkenny-based renewable energy systems provider Hybrid Energy. In April 2011, our €500,000 investment in the firm enabled it to expand into new markets including the United Arab Emirates, Qatar, Guatemala, Germany, Italy, Fiji and Ghana. A provider of cost effective, easy to maintain power solutions for off-grid telecommunications base stations, customers include Meteor, Telefonica, O2, British Telecom and Vodafone.  Hybrid Energy is currently recruiting a Sales Manager.

Kerry-based BioAtlantis is another example of a dynamic Kernel Capital-backed company, exporting its products to 22 countries. In June 2010, the Bank of Ireland Kernel Capital Fund II invested €750,000. Focussed on the research, development and manufacture of plant biostimulants and animal prebiotics the firm has achieved multi million euro annual sales revenues and trades profitably.  BioAtlantis is currently recruiting a Sales Executive (see http://www.bioatlantis.com/for more details).
These examples represent 3 from our portfolio of 51 companies where there are currently over 30 immediate job vacancies and strong growth plans.  Entrepreneurs, innovation and venture capital together represent a powerful engine of job creation.

Written by Orla Rimmington, Operations Director in Kernel Capital.

If you are interested in the topic of equity finance why not read our two articles by Alan Gleeson called  Raising Equity Finance and Are business plans still relevant.

There was standing room only at the Enterprise Week event at the House of Lords on Friday morning. Over 300 entrepreneurs and SMEs gathered to hear keynote speakers such as Paul Rellis from Microsoft, Justin Keatinge, Managing Director of Version 1 and Nicola Farronato, CEO of b.sm@rk

Paul Rellis in Microsoft spoke about the technological transformations that are taking place and how natural user interfaces such as Kinect will become more pervasive in the near future. It is predicated that in three years time 50% of phones will be smartphones, and according to Rellis one third of those will be on the windows phone platform.

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We are delighted to announce that Enterprise Week is back and is set to be better than ever in 2011!

National Enterprise Week will run from 20-27th May. It is about bringing together like-minded local business people and entrepreneurs to share their experiences and knowledge.

The last Enterprise Week, in November 2010, saw almost 4,000 business people attend over 110 events across the country with speakers like social media guru Krishna De and Metro North Project Director Rory O’Connor discussing a wide range of topics.

New to the Enterprise Week events list for 2011 is a specific ‘Women in Business’ event on May 25th in Carton House. Speakers at the event include Dragons’ Den star and publishing entrepreneur Norah Casey and the Minister for Social Protection Joan Burton.

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From start to finish my experience on the Dragons Den 2011 was fantastic and something that I would recommend to any entrepreneur looking for investment and guidance.

From the moment that I met the production team right up until securing the investment I had the time of my life! Even though the experience was hugely fulfilling walking into the Den was the single most nerve wracking thing I have ever done. There is no way to describe how it feels waiting outside the Den for the producer to call you in to face the Dragons.

Pitching your business to an investor is never easy but it is a whole different ball game when you add in the lights, cameras and action of the Dragons Den set.

As soon as you are given your cue all of that madness disappears and it is down to business. You really just focus on the Dragons. I think what people watching the show might not understand is how long us entrepreneurs actually spend in the Den. I spent one hour and twenty minutes in front of the Dragons pitching my business which is hard in a normal business situation never mind with all the cameras. However, when the show aired I was only on it for about 15 minutes! I think it is important for viewers to realise that the Dragons don’t make decisions on a whim; they really give you a good grilling before making up their minds! If you don’t know your stuff you are finished!

Since Dragons Den was aired my product has taken off like a rocket and there is a huge amount of interest in both me and SavvyBear. Norah and I are getting on like a house on fire and we are working hard to get the product ready for the global market.

Going on the Dragons Den experience to me is one of the best decisions that I have ever made and I would do it again in a heartbeat!

John Joyce
Savvy Bear

Some interesting events and conferences for SMEs and entrepreneurs coming up at the end of the month.

At the RDS in Dublin from 6pm. Dave Harvey, founder of City Channel, and presenter on Newstalk will talk about how media can can benefit SMEs with a minimal budget.   This will be followed by round table networking.   Called the ‘Road to Recovery Meeting’, this is a free event and takes place on 22nd March.  You can get more details here. …

While Gavin has been at the pulse of the Media & Communications industry for many a year, he was actually reared in the hospitality and retail business with his family running pubs, restaurants and shops in Naas, Dun Laoghaire and Drogheda. Born on a farm outside Naas, Co Kildare, he considers Drogheda, Co Louth as his home town. He now lives 5 miles outside Drogheda with his wife Orlaith and four children. …

Irish Technology Company Seedups launched their full service on February 1st. Developed as a crowdfunding platform for start-ups to match with a growing network of investors, the company have already hit a number of milestones since their beta launch. Founder Michael Faulkner explained the concept of the business as “networking new entrepreneurs with angel type investors who are looking for the best new start-ups in which to invest”. The business model has been described by an existing Seedups investor as Dragons Den meets Facebook.

While other companies and projects offer funding opportunities like this, Seedups is unique as it uses Crowd-Funding and Micro-Financing. This means that good opportunities will get the chance to raise capital from more sources and investors will be more willing to stake smaller amounts in order to diversify their portfolio.

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Entrepreneurs come in all shapes and sizes. Just take 19 year old chocolatier Louis Barnett for example.

At just 12 Louis became the youngest entrepreneur in the UK when he began selling his cakes to local restaurants and delis. He then became the youngest ever supplier to Waitrose at 13 (2006) and Sainsbury’s at 14 (2007) and Selfridges at 15. …

National Enterprise Week was launched on Friday to a full house at the House of Lords in Dublin.

Entrepreneurs and business owners gathered to hear keynote speakers such as the Minister for Communications, Energy & Natural Resources, Eamonn Ryan and the Lord Mayor of Dublin Gerry Breen. …

Many people in Ireland who have thought up and designed useful and innovative products but who do not have the means or the knowledge to get their products to market will be interested to hear about NDRC’s (National Digital Research Centre’s) Launch Pad Programme. …