Ireland’s fintech sector has become one of the country’s most inspiring success stories, attracting nearly €1 billion in investment over the past five years, according to a new Pitchbook Report. In 2023 alone, Irish fintech companies generated €266 million in venture capital (VC) investment.  
 

For founders in other sectors, fintech’s growth offers a roadmap, showing that strong networks, research and development (R&D) and clever use of government support can lead to long-term, sustainable growth.  
 

In this article we’ll explore the lessons leaders can take from fintech, highlighting key supports such as Pre-Seed Start Fund, Start-Up Relief for Entrepreneurs, and Skillnet Business Networks.  

Firstly, fintech firms know the value of strong partnerships. They’re connecting with universities, innovation hubs, and global financial institutions to get advice, open doors to new markets, and expand abroad. 

For start-ups looking to scale, Skillnet Ireland offers a practical way to build similar networks. With over 70 sectoral and regional Business Networks, Skillnet connects SMEs with peers, provides access to subsidised training, and fosters collaboration to strengthen teams ahead of international expansion. 

If you’re a tech company, the Skillnet Innovation Exchange is particularly useful. It matches innovative SMEs with larger organisations facing business challenges, giving you an instant sales pipeline. 

Enterprise Ireland-backed firms invested over €600 million into R&D between 2018 and 2023, creating breakthroughs in payments, regtech, and sustainable finance. This forward-looking investment, supported by Ireland’s generous R&D tax credits and favourable IP treatment, has helped companies scale beyond Ireland. 

SMEs outside fintech often hold back, fearing R&D is a luxury. But scaling is possible with supports like the Pre-Seed Start Fund, which provides critical early capital of up to €100,000 towards proof-of-concept work, feasibility studies, and product development.  

Start-Up Relief for Entrepreneurs (SURE) complements this by reducing the personal financial strain on founders. It lets entrepreneurs claim back income tax paid over the previous six years, provided they reinvest it into their new business.  

Fintech’s growth was built on a strong foundation of government support including R&D tax credits, state-backed venture funds, and regulatory innovation hubs. Enterprise Ireland’s €90 million investment seeded over 200 firms, many of which scaled rapidly. 

If you’re a high-potential startup (HPSU), you can use the Feasibility Study Grant to cover up to 70% of costs (capped at €30,000) for market research, technical research, export analysis, and the development of business plans. 

If you’re looking to test innovative ideas without large upfront costs, Innovation Vouchers from Enterprise Ireland and Local Enterprise Offices are worth checking out. They offer up to €10,000 worth of expert time with a third-level researcher to help tackle technical or business challenges, such as developing a new product, process, service, or business model. A fast-track option is available for companies willing to cover 50% of costs. 

Together with the Pre-Seed Start Fund and SURE, these supports create a layered safety net, helping start-ups test ideas, reduce risk, and build confidence as they prepare to scale internationally. 

The fintech playbook shows that scaling isn’t something that happens “later.” Successful fintech firms build with scale in mind, targeting international markets and preparing for funding milestones beyond the seed stage. 

SMEs in other sectors should ask hard questions early: How soon can we export? What skills will our team need to operate in new jurisdictions? How do we prepare for follow-on funding rounds that will require international investors? 

If you don’t have all the answers right now, don’t worry. The National Enterprise Hub team is here to help. Give us a call on (01) 727 2100 or email enquiry@neh.gov.ie for a free chat about which supports are best for your business.