The tech sectors attracting investment in 2018
Forecast of 17% increase in funding for start-ups from investors
National Director, John Phelan says “AI has grown phenomenally for the last number of years, it is estimated to reach revenues of $60 B by 2025, and has reached a critical point…..IoT (internet of things) is growing exponentially with lots of different platforms for both products and infrastructure. We are starting to see emerging business models for applications and it’s another exciting and fast moving space.”
Mr Phelan is keen to stress, that other sectors that have failed to live up to previous expectations are now predicted to have a real impact.
“We are also seeing companies beginning to understand the business application of augmented reality (AR) and virtual reality (VR). Previously in VR it was mainly the “techies” who understood the technology and created the visuals. However as more creatives engage with the technology, the images will become more beautiful and realistic. This will broaden the appeal for the consumer market and I think we’re set to see some interesting start-ups in this space as the business model develops.”
HBAN is forecasting 17% increase in angel investing in Irish start-ups at the economy grows in 2018, with the belief it will reach 25m per year by 2020.
HBAN is a joint initiative of Enterprise Ireland and InterTradeIreland.
HBAN will hold its national conference on Thursday, February 8, in the Royal Hospital, Kilmainham.