The Government's strategy on technology development in Ireland is a "faith-based policy rather than evidence-based", according to Michael Hennigan of business website Finfacts.ie.

He claimed the dreams of Jobs Minister Richard Bruton to create a local Google or Microsoft, were not grounded in reality: “a Google or Microsoft could never develop in Ireland because of the small market”.

Any high potential start-up would be acquired by a foreign firm before it could scale up in Ireland, he said. Also, new firms after seven years average 18.5 employees, but 40 per cent of tech companies employ just five people.