Category Archives: Network

Interview with Deirdre McIlvenna – Partner at the Maples Group

Introduction

Over the past five decades, the Maples Group has become a global market leader in the provision of corporate legal services. The Group has 16 offices across the globe with operations in Europe, Asia Pacific, and the Middle East, as well as the Americas and Caribbean. Launched in 2006, the Irish office has become one of the largest in the Maples network. Speaking with funds and investment management partner, Deirdre McIlvenna, the Trinity Business Review team learn about a career in corporate law, the funds industry in Ireland, and Maples’ Professional Internship Programme.

The Maples Group  

With over 440 professionals in its Irish office, the Maples Group has a wide range of practice areas, including Corporate, Data, Commercial and Technology; Employment; Finance; Financial Services Regulatory; Funds and Investment Management; as well as Litigation; Property; Projects and Infrastructure and Tax. The wide range of services enables the firm to tailor its offering to the unique requirements of its clients. However, the focus of the firm is directed at funds and investment management, as well as finance and corporate, reflecting the strength of the Irish financial market. Deirdre notes that the firm is increasingly advising on sustainable finance and renewable investment projects within each of these core practice areas.

The Maples Group also prides itself at being at the forefront of innovation in legal service delivery for its clients. Deirdre recognises that ‘delivering legal services efficiently is a critical priority’ in an ever-changing technological landscape. By leveraging a wide range of innovative legal technology tools and techniques across its practice areas, Maples can deliver its services in a cost-effective and productive manner, ensuring greater value for its clients.

Deirdre is of the view that the unique selling point of the Maples Group is that it is a ‘genuine international business’, serving numerous international clients. This global reach brings crucial perspective and comprehensive expertise to the firm. Maples strives to provide time-zone convenient legal advice and ancillary services in regions where their clients are based. The firm also takes pride in a partner-driven knowledge culture, investing significantly in keeping up to date with all Irish, EU and International market developments which impact on its clients. This requires extensive planning as well as communication with relevant government departments, regulators, and industry associations on proposed legislation. Deirdre notes that ‘commercial awareness is very important’ and, according to its clients, this sets the Maples Group apart from other law firms. The firm places a huge amount of value in knowledge sharing, which is achieved through ‘Know How’ meetings and the support of the Professional Support Lawyer (PSL) team.

The Irish Funds Industry  

Ireland’s fund industry was established over three decades ago and has continued to grow, with net assets in Irish domiciled funds rising to €3.32 trillion in 2020. Investment managers and asset managers from all over the globe have sought to develop and expand their European distribution footprint through Ireland, motivated by our globally recognised skilled workforce and our ability to provide full access to the EU. As a result, the Irish office serves as an important European hub for internal clients doing business in and from Ireland.

This growth in the Irish funds industry has contributed significantly to the growth and development of the Irish economy. Deirdre comments that it has been ‘hugely rewarding’ to be part of this success. The Maples Group maintains strong connections and representations on various working groups, including Irish Funds, AIMA, and the American Chamber of Commerce. The firm is also in direct communication with the Central Bank of Ireland, being the governing body for Irish regulated funds, as well as the Department of Finance, on projects such as the Sustainable Finance roadmap.  

Deirdre observes that ‘no day is ever the same’ working in the Irish funds industry. In Ireland, each regulated fund is required to appoint regulated service providers, such as fund administrators and investment managers. In her role of legal adviser, Deirdre is in contact with these various service providers, as well as with auditors and tax professionals. This interaction with different people from diverse areas is something which Deirdre has ‘really enjoyed’ during her career. She says that ‘there is always something new and interesting taking place’ each day.’ 

Professional Internship Programme

Maples Professional Internship Programme is the firm’s ‘primary recruitment method for future trainees’ and provides ‘an excellent platform for those interested in securing a training contract’ with the firm. Last June, the Maples Group welcomed 29 students into its Irish office and looks forward to seeing many of these interns return to the firm as trainees in future years.

The Programme has been thoughtfully structured to ensure that interns gain an invaluable insight into life as a corporate lawyer at the firm. It includes a mix of training; department, committee, and global talks; various workshops, Q&A sessions, and several social activities, ensuring interns are exposed to a range of diverse and interesting work. Interns are offered the opportunity to work alongside Partners, Associates and Trainees in one of the firm’s core practice areas, namely, Corporate, Employment, Finance, Funds & Investment Management, Litigation, Property and Tax, and are paid for the duration of the placement. Deirdre is of the view that ‘people are our greatest asset’ and as such, ‘recruitment and retention of talent is a core part of our business strategy’. A law degree is not a precursor to applying to the Maples Group and Deirdre observes that some of the firm’s best lawyers have undertaken different courses. The firm looks for applicants who are good team players with strong communication skills and ‘a curious mind’. 

Further Information

Applications for the Maples Group’s Professional Internship Programme close midnight 7 February 2022.

Website: https://maples.com/en/careers/students-and-graduates/internships

The Sweet Success Story of The Rolling Donut

The glaze of The Rolling Donut’s glory is attributable to the power of a strong brand narrative and the consistent delivery of a memorable donut experience to consumers. In 1978, Lisa Quinlan’s father, Michael, spotted a gap in the Irish donut market. He began his venture by travelling to “festivals, concerts and garden shows” selling hot-pressed ring donuts. The iconic ‘Rolling Donut’ kiosk on O’Connell Street soon followed. Over forty years later, Lisa has six additional stores across the country. Although business is booming, the CEO does not sugar-coat the path to success.

The entrepreneur describes the period between 2014 and 2017 as “Dublin’s donut wars”. The “highly photogenic qualities of donuts” combined with social media platforms such as Instagram & Twitter, contributed to Ireland’s donut trend leading to steep competition in the industry. The Rolling Donut’s competitive edge lies in Lisa’s drive to bring creative flavours and unique designs to the market. By investing in quality ingredients and innovative talent, Lisa has differentiated her brand in a crowded and competitive marketplace. When launching new ranges like vegan and sourdough donuts, The Rolling Donut showcases the family’s early roots in the donut industry. As it has since its origins, all donuts are made from scratch everyday using high quality ingredients. Fresh lemons are essential for The Rolling Donut lemon curd product while the chocolate ganache and caramel toppings and fillings are also made in-store. Although using fresh ingredients can “be challenging for the sheer quantity of donuts,” it is a unique selling point that resonates with the loyal customer base.

Lisa mentions how “the business is feeling the on-going effects of the Covid-19 pandemic” such as staffing shortages. However, the entrepreneur has managed to seek out opportunity by focusing on building an online presence as well as catering to delivery and collection options. This has been highly successful and the company has seen online orders “double since the pandemic”. Lisa has had to pivot and remain adaptable with the business model as the industry grows and the target market matures. This has encouraged The Rolling Donut to innovate and streamline new products, such as “DIY Donut Boxes”. Creating diverse themes varying from the DIY Unicorn Magic Box to the DIY Choco Caramel Box has strengthened the growth of a diversified range of target markets “from children to corporate clients”.

Describing the expansion of The Rolling Donut as the “hardest thing” she has ever done, Lisa advises young entrepreneurs “not to give up”. The most important lessons she has learned as an entrepreneur is to “always use a business plan and spend money where it counts in areas such as equipment”. Lisa advises young entrepreneurs to “not sweat the small stuff” as “things often have a natural way of working out”. Following the launch of Very Berry, a new business specialising in chocolate strawberries, Lisa remains motivated by her entrepreneurial passion to grow her enterprise, innovate products and, no doubt, the sweet taste of success.

Re-Envisioning The Beautiful Game

David Deneher, Omar Salem and Tim Farrelly co-founded ‘Field of Vision’, an innovative tech start-up with a powerful social impact agenda that is transforming the match experience for visually impaired and blind soccer fans. Computer Science and Business student at Trinity College and Chief Operations Officer at Field of Vision, David Deneher, discusses the technology behind the cutting-edge device as well as his philosophy for a successful start-up. 

Haptic Technology

As most football fans will agree, there is no better place to experience a game than at the stadium. From a goal scored in overtime to a nail-biting penalty shot, being right at the pulse of the action is incommensurate to following in-stadium commentary. With approximately 55,000 people in Ireland blind or visually impaired, Field of Vision spotted a niche need in the market for a device that could enable visually impaired football fans to be fully immersed into the match experience, leaving the technique of “tracing” a thing of the past.

How is Field of Vision leveraging artificial intelligence to redefine accessibility and inclusivity in sports? Cameras, computer vision technology and specialised algorithms connect to Field of Vision’s tablet-sized device to enable the user to feel the game in real time; from “the swerve of a kick to the power of a tackle”, Field of Vision is offering a more inclusive matchday experience than ever before.

Despite the challenges caused by the pandemic, the speed at which Field of Vision developed its product underscores the digital acceleration that is presently taking place. Advances in technology, many centred on AI, marks the beginning of a “new era of connectivity for assistive technologies and the businesses behind them”. The effect will be “highly impactful” for improving accessibility for persons with impairments. As a “pandemic tech start-up,” Field of Vision’s “entire journey as a company” has been unique.  For David and his co-founders the flexibility of online college offered opportunities to innovate and find their way to the forefront of their industry. Currently the business is planning to expand their technology into sports such as GAA and rugby.

Success

According to David, critical to the success of a tech start-up is harnessing the power of mentorship programmes available to young entrepreneurs. Applying for “anything and everything” has had “positive surprises” for Field of Vision. David’s philosophy is that the “worst that can happen is a no”. Diving straight into the deep end took the team to Qatar Sports Tech, an accelerator program in Doha, UAE. Having recently partnered with Bohemians Football Club and winning first place at the Enterprise Ireland Student Entrepreneur Awards 2021, Field of Vision’s appetite to grow shows no signs of abating.

From Graduation to Innovation – Interview with Trinity Start-Up Covid Interns

Trinity Global Business graduates Rob Muldowney and Paddy Ryder experienced the all too familiar story of having their graduation plans unexpectedly dismantled by the COVID-19 pandemic last year. Except, their story stands out – Rob and Paddy adapted and identified an opportunity to use global chaos to launch a successful business  – Covid Interns. With support from Trinity Business school the entrepreneurs hit the ground running. Here Rob tells us how.

What does Covid Interns do? “It offers an array of opportunities for third-level students to work with SMEs.” Rob and Paddy are uniquely positioned to understand the flexible employment needs of students. Their business offers three types of placements – “projects, part time roles and full time roles”. Rob provides the example of a student working part time in the hospitality business. Covid Interns can connect their third-level skills and learning to the admin side of the industry, for instance to run a social media platform. This provides the foundations to gain practical experience in their chosen field and helps build the CV. Covid Interns is epitomising the redefinition of business purpose captured by leading Oxford University Professor Colin Mayer at the World Economic Forum Annual Meeting, in terms of businesses now producing profitable solutions to the problems of people rather than profiting from the problems they create. To date, Covid interns has supported in excess of 180 businesses and placed over 200 candidates with experience from New York to Singapore from more than 40 leading universities including the University of Cambridge, Science Po and Imperial College London to name but a few.

With “first-hand knowledge of the anxiety and stress students face when sourcing internship opportunities”, their idea hatched from “the beast of a strategic management module assignment.” Rob and Paddy agreed that the pandemic was ripe with opportunity for innovation as the “SME market was hugely overlooked and underserved”. The outcome would provide a win-win scenario for students and SMEs as an industry that was one of the hardest hit by the pandemic. While students bring fresh skills and talent to the table, SMEs provide practical experience and bespoke learning opportunities.

Envisioning the future of Covid Interns in a post pandemic world, Rob affirms that their business is here to say, albeit with the baptism of a new business name on the horizon. There “will always be a market for flexible opportunities” and gusto from students for seizing them.  Next, I asked Rob how can a student apply to Covid Interns.  It is as easy as going directly onto their website and completing the student friendly application form. You can also stay up to date with Covid Interns via their active social media domains – Instagram, LinkedIn and Facebook. With four strategic additions to the team Covid Interns is constantly growing, and with links to global platforms such as the Irish International Business Network it is only going to grow faster.

Entrepreneurship comes with a host of challenges, especially in a global pandemic. Rob identifies the biggest challenge facing students as “trying to start a business from the four walls of your  bedroom.” In absence of the possibility of “face to face interactions it can difficult to build relationships and collegiality with business teams.” Rob suggests three key strategic moves students pursuing an entrepreneurial position during the pandemic can make. Start with “identifying products and services that can stand the test of time”. The benefit of launching a start-up in a pandemic is that you can clearly spot gaps in the consumer market and successfully fill them. Next, Rob maintains that “ a feel good story” can act as a springboard to capture positive press and people’s imaginations, simultaneously helping to grow a loyal consumer base.  Lastly “although Covid can mess up plans” as the saying goes every cloud…

1 Continent, 1 Billion+ People, Endless Opportunities – Maeve Rafferty, International Development in Africa Specialist

Think about the t-shirt you are wearing. Who sew it? What are their working conditions like? Where they paid a fair wage? The rhetoric of a global village means the habits of consumers of the Global North have wide-ranging ramifications, stretching from the factory floor to the price of your t-shirt on the high-street. However, student decisions as ethical industry leaders of tomorrow can break ground in new markets while leaving a positive footprint. As global business interest in Africa flourishes, I recently interviewed Maeve Rafferty, a Trinity College Business, Economics and Social Studies alumnus with a passion for international development, innovation, and identifying opportunities for entrepreneurship in the emerging African markets. She spotlights Africa’s underestimated potential as a market for innovation, investment, and social entrepreneurship for enterprising students. Maeve also discusses the interaction between social entrepreneurship and positive societal development.

Market Opportunities
As an MSc in Africa and International Development at the University of Edinburgh candidate, Maeve has extensive insight and practical experience in understanding how globalisation interlocks with policy, practice, and business strategy. Acknowledging the market reluctances on part of buyers and suppliers in the West towards doing business with companies in Africa, Maeve highlights two reasons driving opportunities in these markets for forward looking student entrepreneurs. Firstly, delineating the economic shift that is under way in the continent Maeve draws
parallels with development challenges experienced in the 1960’s Asian markets which turned into a rapid growth period for the Four Asian Tigers- Hong Kong, Taiwan, Singapore, and South Korea. Where is next? Maeve suggests “Africa, as it is far too big of a global player to ignore.” According to a recent United Nations Forecasts, the continent is expected to double its population by 2050, from 1 billion to nearly 2.4 billion inhabitants. The implications of this growth present high long-term rewards for entrepreneurs who unleash Africa’s strategic position and potential.

Trends indicate rising incomes across the continent presenting an “attractive market” for those who identify gaps in the consumer market and seize the opportunity before competitors do. Secondly, innovation is needed where there is a lack of infrastructure. According to Maeve “Africa presents underexploited potential for sustainable industrialisation and innovation.” A 2016 report by Afrobarometer indicated that only 63% of the African population has access to piped water, and half the population live in areas without paved roads. It is important to bridge the distorted historical perception gap of Africa as a disconnected continent, 93% of the population has access to mobile networks. This reflects a continent of innovators and digital adopters. Developing sustainable infrastructure is an important step towards increasing productivity and competitiveness.

Social Entrepreneurship
Social entrepreneurship can create value in societies while also assisting their development. This is particularly pertinent in “lower or middle income countries which have less employment provided by the public sector, making the private sector a crucial employer.” For example, 3% of Tanzania’s employment is in the public sector. The remaining 97% presents opportunities in the private sector for social entrepreneurs seeking to create benefits which can improve “living conditions, and ensure people can live a dignified and secure life”. The wider knock on effects of entrepreneurship enables society to benefit from “more expenditure and higher demand for consumer goods which increases the ability for to create the supply to meet consumer demands”.

What can students do to drive social entrepreneurship? From Maeve’s experience in the education sphere, she suggests that students are already empowered to know that “decoupling needs to occur”. We need to decouple the idea that in order to have “economic growth there also has to be negative ramifications for the environment
and wider society.” Maeve views students as “ethical industry leaders of tomorrow, if they acknowledge and work towards ensuring the organisations they lead are conscientious in how their decisions are made, they have the power to contribute to sustainable development or hinder it.” The challenge of the COVID-19 lockdown presents opportunities for students to “reflect on society’s needs and meet consumer demand.” Maeve sees the student generation as social innovators, intuitively possessing skills that organisations are now acquiring, she recommends “reaching out to these global players and applying those skills positively to have a powerful impact” not just locally, but globally.

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