New Skillnet Ireland programmes support businesses in meeting complex modern challenges head-on
For almost 25 years Skillnet Ireland has partnered with businesses and industry bodies nationwide to design and deliver enterprise-led upskilling solutions that address current and future needs in key areas such as climate action, accelerating digitalisation, supporting Foreign Direct Investment (FDI) through talent, SME business leadership, workforce innovation and research.
As the national talent development agency of the Government of Ireland, championing innovation and business competitiveness is at the heart of the Skillnet Ireland model. These core principles are embedded in the programmes delivered by its 70 Skillnet Business Networks, national initiatives and strategic partnerships.
Digital advancements, the green transition and skills shortages are key challenges facing all businesses. Programmes available through Skillnet Business Networks aim to support businesses adapting to these complex challenges, while equipping them with the capabilities necessary to grasp new opportunities.
Driving innovation and growth through bespoke upskilling solutions
This autumn, BioPharmaChem Skillnet and UCC launched a new micro-credential to support the continued growth of the domestic BioPharmaChem sector. The Certificate in Continuing Professional Development: An Introduction to BioPharmaceuticals and Advanced Personalised Therapies micro-credential programme has been designed to meet the upskilling and reskilling needs of those currently involved in or looking to transition into the biopharmaceutical and the emerging cell and gene therapies sectors.
Like many sectors, digitalisation is reshaping the financial services industry. To address challenges created by the growing dependence on digital technologies, CPA Ireland Skillnet has introduced a revolutionary new programme that harnesses the power of Virtual Reality for upskilling in the accounting and financial services sector. The programme focuses on Robotic Process Automation (RPA) and provides learners with the opportunity to put new digital skills and sophisticated tools into practice, in an immersive virtual setting. Throughout the course, participants learn the principles of RPA and the process of RPA optimisation.
Skills and talent for a more sustainable future
Meanwhile, to enhance sustainability in the domestic transport sector and reduce emissions, CILT Mobility & Supply Chain Skillnet recently launched its new Electric Vehicle (EV) Fundamentals Micro-Credentials programme. EVs form a significant part of Ireland’s Climate Action
plan to reduce transport emissions. The programme equips learners with a broad knowledge of hybrid and battery EVs and the green skills needed to implement and maintain these sustainable technologies. They will also obtain the knowledge and skills required to safely remove, diagnose and repair the components used in the various technologies. It was designed in partnership with Technological University of the Shannon: Midlands Midwest and is the first of its kind.
Upskilling your workforce with Skillnet Ireland
Commenting on the importance of Skillnet Ireland supported programmes, Dave Flynn, Skillnet Ireland Director of Business Networks, said: “Irish businesses, in particular SMEs, are grappling with new and potentially daunting developments like the digital and green transitions. However, within these there are significant opportunities to evolve and grow. Through our 70 Business Networks, Skillnet Ireland collaborates with industry to identify the skills needed to address complex existing and emerging challenges and delivers sector-specific and job-specific upskilling solutions.”
Each Skillnet Business Network is made up of companies, linked by sector or to a specific region, which share the common aim of upskilling their workforce. Companies can contact their local Skillnet Business Network by checking for their sector or region at skillnetireland.ie/our-networks.
Venture capital investment has slowed down, commercial property deals have declined significantly, and the Central Bank frets that the pass-through impact from higher interest rates has some way to go. Consumer prices are on a downward trend, and average earnings growth is now exceeding HICP inflation. EY has named Sam Moffett, Ciaran Marron and Tom Walsh as Ireland’s best entrepreneurs 2023.
COMMERCIAL PROPERTY
The value of commercial property investments in Q1 to Q3 2023 was down 64% on the corresponding period in 2022, according to Sherry FitzGerald. Development land transactions declined by 50%, and Sherrys said the full year outcome looks set to be one of the weakest years on record in both markets.
STABILITY REVIEW
The full impact of higher interest rates on Ireland’s economy still lies ahead, the Central Bank has warned in its latest Financial Stability Review. The CBI noted households continue to prove resilient, although there are early signs of repayment challenges for some vulnerable borrowers.
AVERAGE EARNINGS
Average earnings rose by 4.6% year-on-year in Q3 2023 to €47,200 per annum, according to CSO data. Average earnings in the public sector are €58,550 p.a. compared with an average of €43,840 p.a. in the private sector.
INFLATION FALLS
Annual consumer price inflation on the EU’s HICP measure was 2.3% in November, down from 3.6% the previous month. Energy prices declined 5.8% from October and 9.9% since November 2022. Excluding energy and unprocessed food, the HICP inflation measure for November would have risen 3.9% year-on-year.
DV LEAVE
Domestic violence leave is now a legal entitlement for anyone experiencing or at risk of domestic violence. The entitlement is five days on full pay and there is no minimum service requirement.
TOP ENTREPRENEUR
Sam Moffett, founder of Moffett Automated Storage in Monaghan, has been named overall EY Entrepreneur Of The Year 2023. Ciaran Marron, CEO and founder of Activ8 Solar Energies, won the Established Entrepreneur award, and Tom Walsh, CEO and co-founder of Staycity, received the International Entrepreneur award.
LONDON MALDRON
Dalata Hotel Group has officially opened its first Maldron Hotel in London. The 4-star Maldron Hotel Finsbury Park is the plc’s 53rd hotel, and the first of five Maldron Hotels set to open across the UK in the next 12 months. Dalata purchased the ready-to-open 191-bedroom hotel at Finsbury Park for £44.3m and invested £4.1m in an upgrade.
EXPONENT MOVE
Private equity firm Exponent has selected Dublin for its new operational base, and has opened at office on Merrion Square, D2. Exponent is utilising Ireland’s newly revised
Investment Limited Partnership structure to operate as an Alternative Investment Fund Manager. The Dublin office is led by operation director Jacqueline Flynn, formerly COO for BlackRock’s Irish operations.
INVESTOR READY
Mavarick in Limerick, founded by Paul Byrnes, has been selected as the winner of the InterTradeIreland Seedcorn investor readiness competition. The company developed a platform that generates real-time information to help manufacturers make better decisions to achieve additional capacity, reduce machine downtime and increase profitability.
M&A DEALS Apple reseller
Select Technology Group has agreed to acquire DID Electrical, subject to regulatory approval. DID has 23 stores. Controlled by the Houlihan family, ownership of the DID Electrical chain is vested in Peach Limited, a company registered offshore in the Isle of
Man. Operating company Home Appliance had revenue of €109m in the year to March 2021, up from €83m in FY2020.
Nostra Technologies has acquired Cork managed service provider Compunet, the company’s fourth purchase in 2023. Compunet owner directors Tony Healy (45) and Jason Burns (50), who have worked with the business for over 20 years and completed a management buy-out in 2010, are staying with the business. Compunet net worth was €1.6m in April 2023, including €1m in cash. Trade debtors were €910,000 and liabilities amounted to €920,000.
DMG Media Ireland has acquired Everymum, one of Ireland’s leading parenting websites. DMG Media also operates the award-winning parenting site, RollerCoaster. ie. “Adding this brand to our portfolio means that DMG Media Ireland now offers a complete communication solution for targeting the parenting audience across Ireland,” said CEO Paul Henderson.
Curriculum Associates,a
leading American education technology company, has acquired SoapBox Labs,a specialist in voice AI for use in education. SoapBox Labs was founded in 2015 by Dr Patricia Scanlon as a spin-out from Trinity College Dublin. The company booked a net loss of €3.1m in 2022, bringing total losses since inception to €10.4m.
Melior Equity Partners has completed an investment in
NRG Panel in Castleblayney, one of Ireland’s largest installers of solar panels and heat pump systems. Founded in 2015 by Conal O’Reilly and Ollie Hughes, NRG said it has doubled in size in each of the last two years.
MEDIA SUITE
The Platform94 technology hub in Galway has unveiled a new Media Suite designed for video and audio podcasting, live-streaming, studio video recording and training. PwC is funding the facility, which is operated by Dun Dara Productions.
CWSI GONG
CWSI has won the best company award at the annual Technology Ireland awards. Founded in 2010, CWSI is a provider of IT security, compliance and enterprise mobility solutions that support hybrid and remote working.
DELTA EXPANSION
Delta Capita, the capital markets consulting, managed services, and technology provider, plans to double the headcount of its Dublin base over the two years. The company established its Irish hub in 2017 and employs 75 people.
GT BOSS
Stephen Tennant is to succeed Michael McAteer as chief executive of Grant Thornton Ireland from January 2024. Tennant, a restructuring and insolvency specialist, joined the firm in 2009 and made
partner in 2012. He established the firm’s Financial Services Advisory practice in 2017.
FUNDING ROUNDS
Offr, which develops whitelabel technology for estate agents that shows live bids on a property, said it has raised €2.1m in new investment after running up start-up loses of €4.4m. Investors in the round include Second Century Ventures, the venture capital arm of the National Association of Realtors based in Chicago.
AI start-up Zerve has secured €3.8m funding for its coding platform for data science and AI development that allows teams to collaborate and share their work more easily. The Tipperary venture said its technology utilises a novel architecture to create a scalable collaborative development environment to break down silos that can exist between data scientists and developers.
Venture capital funding into Irish technology SMEs in Q3 2023 fell by 38% year-on-year. The Irish Venture Capital Association said Q1-Q3 funding was 6% ahead yearon-year at just over €1bn. In Q3, the value of deals across all sizes fell significantly, with the exception of those under €1m.
The number of transactions was also down by a quarter year-on-year.
Cybersecurity start-up Cytidel has raised €1.35m in a seed funding round led by Elkstone
Ventures and Enterprise Ireland. Cytidel specialises in helping companies to rank, prioritise and fix security threats using its proprietary risk prioritisation engine.