In just a few years, Ireland seems to have not only pulled its economy out of a precarious situation but it has quickly risen to prominence as one of Europe’s prime settings for innovation-driven businesses. With the advent of tech giants of the likes of Google and Apple, which have chosen Dublin as their European headquarters, Ireland has firmly established itself as the place to be when it comes to technology leaders. Yet, as the recent ransomware cyberattacks have illustrated, cutting-edge tech needs to go hand in hand with cybersecurity – and Ireland seems to excel at that, too.
Innovation Drives the Irish Economy
When companies choose Ireland to build their headquarters, they know the advantages very well: Ireland provides privileged access to the EU single market, one of the most business-friendly tax regimes across Europe, all wrapped up in a friendly and open society that welcomes expats – and also has English as its second official language, which is de facto most widely used. Ireland welcomes innovation, as the 2017 KPMG Annual Innovation Monitor Study has shown. According to the report, 88% of Ireland-based companies are leading in innovation both at home and abroad, a figure that is up 8% since the last study. 62% of enterprises appreciate the fact that Ireland as a business environment is innovation oriented, while 68% would wish for increased access to funding and 62% for better access to skilled employees.
Cybersecurity Top Priority for Businesses
Companies have to take care of the sensitive information that they store and process. Data security, namely protection from external attacks and internal risks, is at the core of what companies nowadays are looking for in terms of cybersecurity, which means that the field shows a lot of growth potential. Protecting data from vulnerabilities is also essential for companies of all sizes to ensure compliance with privacy obligations, especially when they use online applications that store sensitive data from clients or stakeholders. Many cybersecurity companies have already set up shop in Ireland, ranging from Dublin to Cork, as they have identified the role of Ireland as a gateway market to Europe and the world.
Dublin Universities Lead the Way in Cybersecurity and Innovation Research
Yet, it is not only private companies that are leading the way as the country is on a course to becoming a cybersecurity hub. A lot of its potential is cultivated in Irish universities, with Dublin leading the way. UCD is home to a dedicated Centre for Cybersecurity and Cybercrime Investigation (CCI) that has already developed strategic partnerships with the industry and law enforcement authorities, managing and participating in related EU projects and providing Masters programmes with a cybersecurity focus in order to train the country’s future experts in the field. Trinity has at the start of the year announced its strategic partnership with the Bank of Ireland in order to establish an Innovation and Entrepreneurship Hub that will include an innovation incubator and cybersecurity oriented programmes like hackathons.
The future seems bright and promising for the Irish economy, as well as for the cybersecurity companies that choose to make Ireland their home. Dublin has already attracted most leading businesses in the field – so, the only question is how to realise this cybersecurity hub potential in a more spread out way across the country.
Feature Image: Source: Pexels
Image 2: Source: Pixabay
