Access to funding remains the primary concern for Irish tech founders and CEOs, according to a new survey from Scale Ireland, the representative body for tech start-ups and scale-up companies.
The survey, which gathered responses from 209 founders and CEOs, found that 74.6% of participants view attracting private capital as either “difficult” or “very difficult.” Nearly three-quarters of respondents said they would like to see some portion of pension fund savings invested in Irish companies to support homegrown innovation.
“While funding remains the biggest issue for start-ups and scaling companies, there are also considerable and persistent problems with enterprise supports,” said Martina Fitzgerald, CEO of Scale Ireland. “We need to ensure supports are being set up to promote use and not solely to prevent abuse.”
The survey also highlighted the growing adoption of artificial intelligence among Irish start-ups. More than 94% of respondents said they are either deploying AI or preparing to integrate it into their operations. Despite this, awareness of the EU’s new AI Act is limited, with over 35% of participants admitting they are not familiar with the legislation and 36% unsure how it might affect their business.
“This survey shows there is a significant lack of awareness about the EU’s new AI Act and how it will impact Irish start-ups. This needs to be addressed urgently,” Fitzgerald added.
In terms of broader support, two-thirds of start-up leaders said Ireland must do more to help local companies become global players, while just over 30% expressed confidence that the country is on the right path.
The survey findings are being released to coincide with Scale Ireland’s Regional Start-up Summit in Cork, which is expected to attract industry leaders and policymakers. The event will feature addresses from Taoiseach Micheál Martin and EU Commissioner Michael McGrath.
The summit will focus on challenges facing start-ups, including funding access, regulatory compliance, and technology adoption. Organisers say the goal is to provide practical guidance to help Irish companies scale globally and navigate complex regulatory landscapes, particularly in emerging technologies such as AI.
The survey underscores the dual pressures on Irish start-ups: the ongoing difficulty of securing private investment and the need to build expertise and awareness around new technology regulations. Founders and CEOs are calling for stronger support mechanisms, clearer guidance on legislation, and greater involvement of institutional investors to ensure Ireland’s tech sector remains competitive on a global stage.
