Access to finances and employees are the biggest issues facing tech startups

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Scale Ireland chairman Brian Caulfield added: “We now have further evidence of the challenges facing founders to retain staff. “The ambition and momentum of start-ups must now be matched by increased state support. With this support, indigenous start-ups will create more employment and grow globally.” “It is becoming more difficult, with four out of ten founders that contributed to our survey, losing staff over the last twelve months. This is a pressing issue that needs to be urgently addressed.

The survey will form the backdrop for Scale Ireland’s first Regional start-up summit, which will be launched on Friday by Taoiseach Micheál Martin, and will include some of the country’s leading start-ups including Fenergo and Teamwork. Most of the founders also indicated that their company did not have a sustainability or climate action plan.

Scale Ireland chief executive Martina Fitzgerald said: “This survey highlights the challenges facing indigenous tech start-ups. At a time when the sector is experiencing significant growth, it should not be held back. It also found that the vast majority of the 230 start-up founders and CEOs who responded had not applied for key State schemes including the Employment Incentive Investment Scheme, R&D Tax Credits or the KEEP share option scheme.

“It is also critical that we examine why many founders are not availing of state incentive schemes. We have to ensure they are user-friendly.”

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