Research & Innovation

Lack of venture capital and Skills shortage could cost thousands of software jobs

 Breaking News

Lack of venture capital and Skills shortage could cost thousands of software jobs

Lack of venture capital and Skills shortage could cost thousands of software jobs
July 14
09:11 2014

Ireland’s vibrant and growing software industry risks losing thousands of new jobs to other countries because of the shortage of suitable skills here.

That is according to a study carried out by the Lero Software Engineering Research Centre and Kemmy Business Schools at the University of Limerick.

It also found that access to venture capital is another major impediment to the growth of software companies here.

It aimed to analyse key competitiveness trends in the software industry here.

Its interim report describes a vibrant, fast growing Irish software industry with tremendous potential, though with big differences between indigenous and foreign firms.

80% of software companies in Ireland are Irish, with a quarter of those less than three years old, and more than half having five or fewer software engineering staff.

On the other hand, a quarter of foreign software firms have been here over 15 years, but only one in ten has five or fewer staff involved in engineering.

However, when it comes to challenges, experiences are similar.

Skills are in short supply, with as many as half of all vacancies filled by inward migration.

While access to second stage venture capital is also in short supply.

The authors warn that despite the growth potential, unless the challenges are met, there is a risk thousands of new jobs at Irish based software firms will be created outside the country.

About Author

colin

colin

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Only registered users can comment.

Upcoming Events

  • No upcoming events
AEC v1.0.4

The Magazine

Advertisements