Ten investments totalling £1 million have been completed in the first year of the Enterprise 2000 Fund - a joint initiative by Bank of Ireland Business Banking and Enterprise Ireland, the aim of which is to make a £10 million seed capital fund available to companies with development potential. It is expected that the full fund will be invested by 2002.
Five of the companies which benefited last year specialise in software and IT applications, with the remainder specialising in food, biotechnology and manufacturing. Amounts available per project range from £25,000 to £100,000 in return for a minority shareholding in the business. Additional funding up to a maximum limit of £200,000 may be available once initial agreed business objectives are achieved.
Who Needs Friends?: A long-time supporter of Microsoft, Gordon Eubanks of Oblix, proved both friend and foe in the course of defending the software giant during last week's instalment of the anti-trust trial. While defending Microsoft, he characterised Windows as old hat. Microsoft wanted him to explain that all consumers benefit when it adds new features to its operating system. He did, but also challenged the long-term viability of Windows itself. "The operating system technology of five years ago is not going to hack it in today's world," he said. Meanwhile Microsoft has revised its website to encourage public feedback on the anti-trust case in an apparent effort to help sway opinion in its direction.
Flogging Apples: The very first Apple computer assembled by Steve Wozniak and Steve Jobs will soon be auctioned and is expected to fetch more than $40,000 as only 200 of them were built and they are keenly sought after on the vintage computer market. The Apple I comes complete with documentation proving its authenticity and the original manual.
On The Margin, Man: Credit Lyonnais has signed a deal with Dublin-based International Financial Systems to take its MarginMan Version 2.0 web-enabled risk management system for collateralised trading. The deal brings the number of IFS clients to more than 50 in 23 locations worldwide.
Bringing Y2K To Book: In response to the growing need for Y2K assistance, The Smaller Business Year 2000 Guide: A Complete Year 2000 Compliance Program For Small and MidSized Businesses has appeared on the market. The guide helps small companies address Y2K-related legal, financial and technological issues, based on their individual business requirements. More information is available from www.HIGweb.com.
Fight The Power: Protest against the demolition of a Grade 1 listed building in Dublin has taken to the Net with the Irish architecture site at www.archeire.com hosting a discussion forum on the demolition of the former Archer's Garage in Fenian Street. The website also has a form to email a protest to Dublin Corporation, with a cc to O'Callaghan hotels (also owned by the developer, Noel O'Callaghan). Some protestors have also set up a page at www.sherborough-securities.com - the name of O'Callaghan's development company.
Easy Does It: Trintech has announced a one-click virtual credit card payment method for Net transactions. The "ezCard", an electronic version of a consumer's credit card, sits on a user's PC and automatically fills in online merchant payment forms.
Compaq's Concern: Compaq has confirmed investors' worst fears by warning of a second-quarter loss as pricing pressures hit its business. The world's second-largest computer maker has also unveiled a restructuring plan aimed at reversing its disappointing performance. The company expects to take a substantial restructuring charge in the third quarter and aims to cut $2 billion in operating costs after the restructuring plan is implemented.
European Invasion: Siemens and Fujitsu are to combine most of their European computer businesses in a move that will create one of Europe's largest PC vendors. The two companies have signed a memorandum of understanding on the combination and plan to develop, manufacture and market a full range of information products. Siemens said it expects the new venture to generate sales of more than $7.4 billion in the next fiscal year.
Interview Technique: An interview will never be the same again following the introduction of the Talking CV by Irish recruitment company, Calibre and human resource specialist ITS. The Talking CV allows potential employers see and hear selected candidates being interviewed live by a recruitment company. The end result is burnt onto a CD-Rom and presented to the client company for review. Together with a recording of the candidates, the screen also displays relevant details from their CV including educational experience and skills.
Channel Hopping: Dell Europe and Hewlett-Packard Europe have announced a strategic channel agreement which extends the relationship between the two companies. Under the direct supplier agreement, Dell becomes a direct channel provider for HP's Hardcopy group and is authorised to sell HP's entire range of printers and scanners direct to its customers as part of its DellWare offering.
In Brief...Cisco Systems has agreed to buy telecommunications equipment maker TransMedia Communications for about $407 million in stock. . . Psion has announced the Series 5mx, which adds Java, enabling access to real-time Internet services such as stock price monitoring, travel bookings and online shopping. . . Iona Technologies has announced the latest release of the leading Corba-based Java middleware product, OrbixWeb 3.2. . . Oracle has announced record fourth-quarter and fiscal year end results for the period ended May 31st. Revenue grew 24 per cent to $8.8 billion while net income increased 35 per cent to $1.3 billion. . .