A return once again to the whole idea of making Ireland more like Silicon Valley. If we didn’t have Enterprise Ireland helping out companies and we didn’t have the County Enterprise Boards doing the same with feasiblity grants and so forth, would this be better in the long run? Would it make companies be more aggressive at turning a buck faster, would it allow companies to concentrate more on their product developments instead of spending their time filling out forms and drawing down scraps and attending courses that are completely useless to them?
I’ve read a lot of blog posts and heard a lot of private commentary about how time consuming Enterprise Ireland funding is and whether it is worth it in the end. I’ve also seen the attitude of some (and experienced it with some Paddy’s Valley applicants) that E.I. is some kind of piggy bank and should hand over cash without question when the paw is stuck out. Why the hell should E.I. pay for people to go to Silicon Valley just because it’s a good idea?
However, if E.I. was removed from the picture, would angels and smaller fund V.C.s move into the vacuum? Would you have more VCs in the market then and would there be more of a chance of good companies getting funding insted of ok companies who know how to deal with red tape? Or would everything here just die? In an odd twist it seems the imminent success of the Collison brothers and Auctomatic is being used to slag off E.I. – The lads did not get turned down by E.I. as some have misinterpreted, they just decided to follow a different path for funding (and glory 🙂 ) and went off and got Y Combinator funding in the States.
With less of a safety net with E.I. and Enterprise Boards, would this be better or worse?