Business Plus

Agencies Detail Some Sizeable State Aids


The state funding taps have kept flowing through the Covid pandemic, with Enterprise Ireland and IDA Ireland slaking the thirst of businesses. In recent disclosure­s to the European Commission, IDA Ireland revealed some of its large state aid disburseme­nts in 2020.

They included c.€6m to pharma giant MSD, while other large grant recipients included US healthcare company Optum Services (€1.2m), Boston Scientific (€2m), HID Global (€2m), Medsize (€1.6m), Dell/EMC (€1.8m) and Nellcor Puritan Bennett (€1.2m).

Another IDA grant beneficiar­y was Intercom, which was approved for a €3.7m payment, presumably for jobs in Ireland. Intercom, which provides communicat­ions and marketing software products to clients such as Facebook and Microsoft, employs c.250 people in its Dublin office.

The company was founded in Dublin in 2011 and its headquarte­rs was subsequent­ly establishe­d in San Francisco. Dublin is the centre of its R&D operations and taxpayer funding from the IDA is likely connected to Intercom’s decision to relocate c.40 R&D roles from the US to Ireland as part of a Covid cost-cutting plan. Just as well the company’s Stephen’s Green base is the old Anglo Irish building, where vaults still adorn the basement.

Enterprise Ireland has also disclosed details of some state aid recipients effected last year. They include Cavanbased veterinary pharma firm Univet (€740,000), online food ordering system Flipdish (€710,000), web scraper Zyte Group (€600,000), photonics specialist Mbryonics (€700,000), and medical devices firm Palliare (€500,000).

Web Summit owner Manders Terrace received taxpayer funding of €530,000, and there were also state aid payments for Anam Technologi­es (€550,000), Chanelle Pharmaceut­icals (€1.1m), Global Shares (€660,000) and Doco System Solutions (€500,000).

Trading as DOCOsoft and led by software developer Aidan O’Neill (55), Doco System Solutions develops claims management, document management and workflow software solutions for the insurance and financial services markets. Clients include Axa, Chubb and over 20 large London market insurance brands. Annual turnover grew by 22% to €3.8m in the year to June 2019, and directors Aidan and Maria O’Neill received remunerati­on of €1.2m.

Chanelle Pharma and Flipdish are among the finalists in this year’s EY Entreprene­ur of the Year competitio­n. Flipdish founders Conor and James McCarthy will be among the favourites in the emerging category after the company recently announced a €40m funding round led by US investment firm Tiger Global Management.

 ??  ?? Flipdish founders James McCarthy (left) and Conor McCarthy
Flipdish founders James McCarthy (left) and Conor McCarthy

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