Organic growth will not create Irish technology companies that can dominate their markets, according to a leading corporate financier, and local firms need to urgently look at acquiring competing or complimentary players.

Mark Fenelon, director of Whitebridge Capital, believes Irish firms need to achieve revenues of more than €100 million if they are to become international players. Rather than being the target of acquisitions by global players, Irish firms now need to consider making acquisitions themselves, or adopting a comprehensive partner strategy that gives them a global reach.

"We end up being an incubation nation," says Fenelon, "because we develop new technologies but do not create world-leading companies that can exploit those innovations."

Whitebridge will host a conference entitled Creating Scale Through Acquisition at the Four Seasons Hotel, Dublin on Tuesday, September 18th, to discuss the issues involved.

Speakers will include Google's head of corporate development, Anil Hansjee; Library House's deputy head of European research, Richard Youngman, and partner with US law firm Choate Hall & Stewart LLP, Larry Naughton.

Mr Fenelon notes that many Irish firms sell out once they achieve annual revenues of about €10 million.