Overview to Xconomy’s Special Report
Summary
A group of American former collegiate basketball players came to the Emerald Isle on a hoops tour, taking part in an international tournament outside Dublin and playing exhibition games against Irish all-stars and holding school clinics around the country.Not surprisingly, I was paying attention to basketball, new friends, and Guinness, and not the business scene—but as I discovered on my return trip, the tour took place when Dermot Clohessy was still a pretty junior employee at IDA Ireland, the semi-state organization that promotes foreign direct investment into the country.There’s no doubt that super low tax rates—including the so-called “Double Irish” policy that drew so much international fire the government announced earlier this month it will be phased out—have helped attract a host of multinational tech companies.These run from “older” stalwarts like Intel, Apple, Microsoft, Boston Scientific, Novartis, and Janssen to newer big names like Google, Facebook, and PayPal—and an even fresher wave of tech gazelles such as Twitter, Dropbox, Zendesk, and HubSpot.For instance, the dozen national research centers mentioned above, encompassing work at Ireland’s seven universities and 14 institutes of science and technology, in conjunction with numerous industry partners, are aimed at building world-class expertise in areas such as networks and communications, big data and analytics, photonics, medical devices, geosciences, drug synthesis, marine renewable energy, and more.
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