IBM to set up venture capital centre in Dublin
Enterprise minister, Micheál Martin, has announced that IBM is to establish a european venture capital centre and an innovation centre at its technology campus in Mulhuddart, Co. Dublin.
The projects will be created in collaboration with IDA Ireland and Enterprise Ireland.
The IBM European Venture Capital Centre will enhance access to venture capital investment and build stronger ties with the venture capital community across Europe.
It will also facilitate access for Irish start-up companies to IBM strategy, technology sharing and mentoring. The Centre will also act as a portal to IBM's in-house partnership programmes and research activities.
The Innovation Centre will help Irish software companies to gain support from IBM experts in developing and testing new advanced and emerging technologies.
IBM technology experts will also provide information and support to Irish companies in the form of workshops, seminars, access to design, scalability testing, porting and enablement services.
The Innovation Centre will also channel start-up businesses to IBM's centres of competencies in the areas of SAP and Service Orientated Architecture (SOA), a technology for transforming software applications into reusable services.
Mr Martin said: "Just two months ago, I announced that IBM Corporation will invest €46m in its Technology Campus in Mulhuddart to significantly grow its Dublin-based software development operations, establish a business incubation centre and enhance its supply chain capacity with support from IDA Ireland.”
"The Venture Capital and Innovation Centres will act as catalysts for innovation, new company creation and growth and will make a valuable contribution to the culture of entrepreneurship in Ireland. Today’s announcement is a fitting way to celebrate IBM’s 50th anniversary in Ireland."
Mr Martin also announced a strategic alliance between IBM and Enterprise Ireland.
This collaboration will enable Irish companies to build mutually beneficial business relationships with IBM globally.
In particular, Irish companies will have access to I.P. licensing opportunities, the innovation centre, strategy sharing, and research linkages.
Claudia Fan Munce, Managing Director, IBM Venture Capital Group said: "IBM is delighted to be collaborating with Enterprise Ireland and the venture capital community to assist in the development of Irish technology companies. This strategic alliance will strengthen the innovative culture and capability of Irish firms and further embed IBM’s operations in Ireland.”
