In his latest blog on business in Ireland, our local Managing Director waxes lyrical about the lure of Dublin to the fast-rising tech companies of the world.
With nine of the top ten global software companies now present
Ireland, the country is experiencing a tech boom, particularly
in the Dublin, the capital city.
The first wave of "Born in the Internet" technology companies arrived a number of years ago with giants like Google, Facebook, Amazon, Twitter and LinkedIn setting up their European headquarters in Dublin. More recently a second wave of companies – Dropbox, Zynga, HubSpot - have followed in their tracks.
Dublin is now the European hub for many exciting US headquartered high growth tech companies such as Airbnb, Squarespace, Zendesk, Nitro, New Relic and Udemy. Many of these are spreading from the US west coast and, in particular, Silicon Valley, to set up in Dublin's regenerated docklands area, nicknamed Silicon Docks. And those companies are growing at a really fast pace.
It's not just the big multinationals: some European software companies, like Serbian-founded game developers Nordeus, have also set up in Dublin. They are followed by others that recognise the talent, tax and technology reasons for choosing Dublin.
The key ingredients to Dublin's success in attracting these companies include: a strong, educated workforce; the youngest population in Europe under 35; a transparent and low corporate tax environment; the only English-speaking member of the Eurozone; the location being attractive for international talent; and, a strong choice of service providers.
IDA Ireland, the agency responsible for attracting foreign direct investment (FDI) to Ireland, provides a range of services to make the bridge from the US to Europe very easy to navigate with little bureaucracy. They also provide services such as plugging tech companies in with recruiters, finding appropriate office space and introducing them to current companies that have chosen to locate in Dublin.
These tech hubs are growing, and fast, as word spreads of the benefits. I've been working with Nordeus as head of TMF Group (Ireland); they are just one of the growing list of emerging tech companies that we provide a range of services to. When setting up in Dublin, these companies should partner with a local expert to get help with things like incorporating companies, registering for taxes and payroll, performing monthly accounting, processing bank payments and ensuring compliance with tax, regulatory and company filing requirements. We work closely with our US and European client companies to provide a complete "back office" so they can concentrate on what they do best: inspiring the next wave of tech companies to come and set up in Dublin, too!
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