Enterprise Ireland announces €750k in start-up funding for female entrepreneurs
Enterprise Ireland have launched a €750k Competitive Start Fund (CSF) for female entrepreneurs.
Up to €50k in equity funding will available to a maximum of 15 successful female applicants with early stage start-up companies when the application process opens on May 3.
The purpose of the CSF is to accelerate the growth of female-led start-up companies that have the potential to employ more than 10 people and achieve €1m in export sales within three years.
The fund is designed to enable those companies reach key commercial and technical milestones which will ensure delivery of their product or service to an international audience.
As well as securing up to €50k in funding, ten of the successful applicants will also have the opportunity to participate in Dublin BIC’s INNOVATE accelerator programme.
Delivered over a 12-week period in the Guinness Enterprise Centre, the interactive INNOVATE programme will increase the capabilities of the participants and move them to investor-ready within a short period.
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“Last year, 34pc of CSF recipients were female entrepreneurs and this new €750k fund for 2017 will provide valuable and practical support for the next generation of female-led companies with global ambition to compete in export markets”, Minister for Jobs, Enterprise and Innovation, Mary Mitchell O’Connor TD said.
“Working with ambitious start-ups led by women is a key focus for Enterprise Ireland, we have seen a major leap in female-led early-stage companies since the commencement of our initiatives in 2012, from 7pc of high potential start ups to 20pc in 2016”, Sarita Johnston, female entrepreneurship manager, Enterprise Ireland said.
The Competitive Start Fund for Female Entrepreneurs will close for submissions at 3pm on Wednesday May 17.