Budget 2022 – IVCA welcomes government move to support indigenous SMEs
News Release:
Dublin; Tuesday, 12th October, 2021: The Irish Venture Capital Association (IVCA) has welcomed plans announced by the government in Budget 2022 to reform the EIIS (Employment and Investment Incentive Scheme) with a view to boosting investment into domestic, innovative SMEs. It also welcomed a further €30m commitment to the innovative equity fund announced in Budget 2021.
"With pending changes in taxation of multinationals in Ireland, now is a highly appropriate time to review measures to create the right environment for indigenous, innovative companies which have the potential to become global players," commented Nicola McClafferty, chairperson, IVCA.
She added, "Beyond the EIIS, the association looks forward to further positive engagement with the government with a view to unlocking far greater asset allocation from institutional investors into Ireland's indigenous, high growth SMEs. Now is the time to build an equity culture in Ireland, allowing early stage investment in private businesses to become an attractive asset class for not only institutions but individuals as well."
For further comment, reaction please contact:
Sarah-Jane Larkin, director general, IVCA, Email: sjlarkin@ivca.ie
Mob: 087 320 9209 or
About the Irish Venture Capital Association
The Irish Venture Capital Association is the representative organisation for venture capital and private equity firms in Ireland.
An independent DCU report released in January 2020 found that Irish venture capital and private equity firms have invested €5bn in Irish SMEs since 2003 and, through syndication, have attracted in a further €3bn in funding from international firms.
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