Market Overview

Enterprise Ireland Puts Female-Led Irish Companies at Center of Investment, Growth and Development Efforts

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The firm's Competitive Start Fund continues to advance female-led
Irish companies across a diverse range of industries.

In 2017, Enterprise Ireland invested more than $36 million in over 180
start-up companies — 37% of these investments were to female
entrepreneurs. Today, Enterprise Ireland maintains a $1.2 million
competitive start-up fund solely for female entrepreneurs, last year,
46% of companies who received Competitive Start-Up funds from Enterprise
Ireland were female-led.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180822005143/en/

(Graphic: Business Wire)

(Graphic: Business Wire)

"Enterprise Ireland wants to see more women scaling their businesses
successfully," said Julie Sinnamon, CEO, Enterprise Ireland. "We are
very proud to work with many, inspiring female entrepreneurs,
facilitating their access to new markets and growing their
opportunities."

The Competitive Start Fund (CSF) was created to accelerate the growth of
start-up companies that have the capability to succeed in global
markets. The fund is designed to enable those companies to reach key
technical and commercial milestones.

According to Sinnamon, the fund aims to support early stage start-ups
specifically for Female Entrepreneurs or female-led start-ups, active in
the Manufacturing and Internationally Traded Services sectors including
the following subsectors: Internet, Games, Apps, Mobile, SaaS, Cloud
Computing, Enterprise Software, Lifesciences, Food, Cleantech and
Industrial Products.

"We need to address all of the constraints that are impacting the growth
of women-owned start-ups," said Sinnamon. "In 2012, only 7% of the
startups we were dealing with were female-led. We decided to try to
understand some of the issues that might be impacting this."

According to research by the Global
Entrepreneurship Monitor
, women in the United States are 18% less
likely than men to perceive they have the capability to start a
business. Sinnamon is working to address this confidence gap and boost
the number of women owned businesses.

"In trying to increase the number of female-owned high potential
startups, we boiled it down to three key issues: access to finance,
confidence, and a lack of role models or access to networks," said
Sinnamon. By tackling each of these three key areas, Enterprise Ireland
has been able to increase the proportion of female owned start-ups in
its portfolio from 7% to 22%.

While there is still progress to be made, supporting female
entrepreneurship is paying off with continued growth of female-led
startups. Here are just a few recent success examples:

Cloud
KPI

CloudKPI is an analytics platform that helps SaaS
businesses predict their future performance, enabling them make
decisions today to deliver better outcomes tomorrow. CloudKPI's
reporting and predictive analytics offer SaaS teams an automated
solution to consolidate cross-business data, formulate accurate SaaS
metrics and deliver insight – exclusively tailored for SaaS.

Cocoa
Brown

Cocoa Brown launched four years ago with the world's
first 1 HOUR TAN and has since gained cult-status internationally
amongst celebrities and beauty editors, from the pages of Teen Vogue to
The Oscars red carpet. Cocoa Brown products are sold in almost 15,000
stores around the world, from the UK to Scandinavia, North America,
Russia, Australia and Europe.

GirlCrew
There
are countless apps available to find a date, but what about new friends?
GirlCrew has created a unique platform focused on connecting women for
friendship and chats. They launched their app in the U.S. this year
after raising almost $1 million from investors including LinkedIn CEO
Jeff Weiner. GirlCrew's three female co-founders, Elva Carri, Pamela
Newenham and Aine Mulloy, are passionate about enabling women to make
friends, network in a social and professional capacity, seek advice and
share knowledge.

PharmaPod
The
Pharmapod Solution is a smart, intuitive and profession-specific
platform designed to facilitate effective compliance with pharmacy
legislation and complement the workflow within the pharmacy, reducing
the risk of litigation through error prevention. It enables pharmacists
to systematically record medication-related incidents and risks in
practice and carry out effective root-cause analysis.

Salaso
Salaso
is passionate about the power and value of exercise to enhance recovery
from injury and support the management of pain and musculoskeletal
conditions. Regardless of whether you are an elite athlete recovering
from injury, someone dealing with an ongoing chronic painful condition
or if you are recovering from an operation such as a total hip
replacement, Salaso believes there is always an exercise that can
improve your physical health and wellbeing.

About Enterprise Ireland

Enterprise Ireland is the Irish State agency that works with Irish
enterprises to help them start, grow, innovate and win export sales in
global markets. Enterprise Ireland partners with entrepreneurs, Irish
businesses, and the research and investment communities to develop
Ireland's international trade, innovation, leadership and
competitiveness. In this way, we support sustainable economic growth and
regional development, and help create and sustain employment in Ireland.

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