Nine of the top ten global software companies are based in Ireland. Nine of the top ten global ICT companies and four of the top five IT services companies are also based here.
Why has Ireland become a global hub for technology companies?
Availability of Skilled Labour
According to IMD, we are number one on the world with regard to the availability of skilled labour
Ireland boasts a vibrant start-up scene for technology companies, which consists of many indigenous, innovative software companies who have who have a strong presence on global markets.
Corporate Tax Rates & R&D Grants
Ireland’s corporate tax rate is one of the most competitive in the EU at 12.5%. There is also a 25% R&D tax credit which many technology companies can avail of.
Ireland has the highest level of science and engineering graduates in the OECD (source: IDA).
The Cluster Effect
Among the global technology companies who have a presence in Ireland are market leaders such as Google, SAP, Ericsson, Intel, IBM, HP, Microsoft and LinkedIn (amongst many others). This has a cluster effect whereby top technology companies base themselves in the same area, attracting top talent to the island with spill-over benefits to many ICT start-ups operating in the area..The Dublin docklands is one such geographic cluster that has emerged as a really strong technology cluster and has become known as the Silicon Docks on the Southside of the river with another huge cluster being quickly developed on the north side of the river in the Sherriff Street area, centred around the Liffey Trust building.
The reasons why Ireland has become a global hub for technology are not limited to the above. Other important selling points to consider are the availability of multilingual resources, an exceptional education system, a high quality of life, high remuneration and personal security and private property rights (source: IMD World Talent Report, 2015).