There are a number of different factors that lead to the development of tech start-up hubs such as Silicon Valley, Berlin and Silicon Roundabout.
With the main factors being tech talent and investment, it really shouldn’t be a great surprise, when some really innovative HR technology comes out of Ireland.
In Dublin, the area around Grand Canal is home to the European HQs of some of the most innovative global technology companies. Not just the usual suspects such as Microsoft, Google, Facebook, Amazon, LinkedIn, etc. If you walk through the aptly – though not necessarily uniquely – named Silicon Docks you’ll also see organisations that have completely disrupted their industry. AirBnB, Etsy, Zalando, PayPal, TripAdvisor, Indeed, Udemy, Zendesk, Eventbrite. And the list just keeps growing!
Since Google moved there in 2004, there has been a steady stream of names follow them – and of course, with those names came a pool of talent to supplement the existing workforce. It seems that over time, the desire to get away from a “corporate world” has led the talent that initially drove the success of those organisations in Europe to move on to develop their own products. A trend, it seems, hugely prevalent in the HR technology space.
Of course, with this influx, there has been a rise in housing prices. Demand massively outstripped supply. Which has led to the creation of satellite hubs in places such as Cork, Galway and Limerick.
But, let’s be honest.
The growth of Ireland as a hub was not completely by chance. Google didn’t just decide to set up shop there randomly. They were actively courted by The Irish Development Agency (IDA). The main body responsible for driving inward investment in Ireland. Coupled with some quite attractive corporate taxation rates!
The sister organisation of the IDA is Enterprise Ireland. They are responsible for supporting the development of Irish companies particularly in how they move into other markets. It’s things like Enterprise Ireland’s initiatives, such as the Competitive Start Fund and attractive Tax Breaks for Start-Ups, that are building employment in the region. That has supported the ongoing growth of the hub.
So that kind of covers off why there is a tech bubble.
But why should Silicon Docks be your go-to place for your next HR and Talent tech buy? here are 3 main reasons…
1. Given the prevalence of European HQs in the region. There are large numbers of HR and Talent folk there. They have been working for companies that pushed the boundaries and drove HR technology to solve problems – so it is no surprise that many, such as Michelle Fogarty, have looked at the opportunity to spread their wings and apply their experience to solve problems.
2. We are constantly “driving” the need for Diversity in our thoughts. Where better than to exercise this than in the suppliers we look at. Silicon Docks offers a real and growing alternative to other “better-known” options.
3. The area is continuing to attract new names and see further expansion of existing residents. This will only enhance the growth of the HR technology market in the region.
Is this the perfect storm? Tech talent, HR talent and a proactive approach from the Government and its organisations? It certainly looks that way. What do you think?