Dublin: The Silicon Valley of Europe?

When most people think about global startup hubs, Ireland may not be everyone’s first thought. However, according to Adeo Ressi (CEO and co-founder of the Founder Institute), Ireland is ready to become a thriving center of entrepreneurial activity in Europe, even in the wake of Brexit and the effects it has on the European economy.

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In fact, in the recent Business Post article, “Ireland is poised to be the corporate hub of European start-ups if it wants to be”, Ressi posits that Brexit has led to a massive vacuum in the EU that poses a fortuitous opportunity for budding entrepreneurs in Dublin.

Because of the red tape and restrictive corporate regimes of most of the EU member countries, most high-quality start-ups from greater Europe and even EMEA were incorporating in Britain to take advantage of the EU market and stable rule of law.”

Essentially, because Brexit has made Britain a risky region in which to incorporate a company, Ireland now has the chance to fill in the void and serve as a desirable location for startups from not only Europe, but also from Africa and the Middle East. With a solid capital market, a talented labor pool, and an ideal tax regime, it’s only a matter of time before Ireland becomes another Silicon Valley.

However, one potential setback to Ireland’s startup scene is that it can be almost have too many benefits for early-stage startups. In Ressi’s opinion, local economies shouldn’t make it too easy for founders to launch companies.

If you make it too easy for a company to start and get off the ground, you are creating inverse operating conditions for success. You don’t want it to be too easy. In many EU countries, it is way too easy. In Ireland, it is less so, but it is still on the easier side.”

Luckily, Ireland has numerous advantages that make it favorable for tech companies. For example, one of the key aspects of the Irish workforce is its collaboration and , which is essential for building a lasting business. Also worth noting is the surprising number of smart, technical workers in the region, with experience in everything from communications to health tech to artificial intelligence.

While it has taken several years for the Founder Institute to launch a Dublin chapter, it’s safe to assume that the program is in good hands, as it will be led by Donal Scannell, founder of Snow Furnace which provides end-to-end podcast solutions and Neal O’Gorman, the co-founder of Artomatix, an artificial intelligence system with human-like artistic creativity. Joining them are Mentors Brett Meyers of CurrencyFair, Brian Caulfield of Draper Esprit and Rhona Togher of Restored Hearing, as well as other local tech and business experts.