Ireland’s Role in the Canadian Startup Economy

Emmet McGonagle

Mar 17, 2023

During a visit to Canada and the United States in November 2021 Robert Troy, Ireland’s Minister for Trade Promotion, joined 30 Irish companies from across Ireland in a bid to boost trade collaboration between the Emerald Isle and North America (source: gov.ie).


Speaking of his arrival in Canada, Robert remarked: “We are very fortunate to have been able to maintain strong relationships with Canada, both culturally and economically, over many years. 


“As we look ahead to a post-pandemic recovery, this trade visit is an important opportunity to strengthen our relationship while also highlighting the many opportunities for both Canadian and Irish businesses.”


With a focus on “supporting early entrants and established Irish companies to expand key business relationships with their North American counterparts”, the trip saw Irish fintech startup Swoop open its first Canadian office in Toronto.


Likewise, Louth-based data collection service XOCEAN expanded their team in Canada with the appointment of a new country manager, while farming solutions leader Keenan announced a new partner network in Québec and forklift company Combilift secured new contracts with GFL Environmental and Aosom in Ontario and QTG in Québec.


Making Waves From Across The Pond


Ireland’s exports to Canada have grown by 26% since the provisional application of The Canada-European Union Comprehensive Economic and Trade Agreement (CETA) in 2017 - which lowered customs tariffs and other barriers to trade between the EU and Canada - with Irish companies exporting more than €1.7bn worth of goods to Canada in 2020 alone.


While Canadian businesses in Ireland employ roughly 7,000 people (a 75% increase from pre-CETA 2018), What’s Your Tech notes that more than 500 Irish SME client-entrepreneurs conduct business within Canada, employing an estimated 6,000 people across the country along the way.


Outside of Canada,  IDA Ireland's Regional Director in North America Brian Conroy also claimed that 766 US companies employ more than 160,000 people directly in Ireland, with US corporations responsible for upwards of 70% of total inward investment employment in Ireland.


With noted imports including Mairead Lavery, president and CEO of Export Development Canada) and Joan Sheehan, VP sales at StemCell (source: Daily Hive); Irish staff and startups remain firmly at the core of the North American startup ecosystem. 

Happy Irish Heritage month, from Valhalla Private Capital.


Do you have a question about angel investing? Get in touch with Valhalla Private Capital via our contact page.

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