I’m happy for the lads that kicked off Auctomatic and my congratulations go out to them, but this was not an Irish company, this was an Irish idea taken to America for execution. Y-Combinator has a proven model and an excellent collection of catchers mitts for good ideas. We cannot hope to emulate that kind of investment environment in a country of 4m.
Anybody can choose to take their ideas to America and take their shot, I guarantee you any of the Paddys Valley companies would triple their chances of success by moving to San Francisco.
I and (and I suspect the others on Paddy’s Valley) have chosen to be successful here in Ireland and despite the difficulties I predict several of us will succeed.
This may also be unpopular but I think it should be said, the 2-3m USD valuation is hardly what I would call a spectacular world beating exit for a Valley company. It was a successful technology sale rather than the sale of a hugely successful company.