Business Irish

Monday 20 November 2017

Notepaper plan to save €13m annually Gridstore generates €1.5m in seed funds

Corporate guidelines

Enterprise Minister Batt O'Keeffe claims a decision to scrap the need to reprint headed notepaper with new names each time companies change directors will save businesses more than €13m annually.

It follows the new guidelines established by the Director of Corporate Enforcement Paul Appleby's office that relax the requirement to produce new headed notepaper every time directors are changed. This is part of a wider plan to cut the red-tape burden on businesses by 25pc by 2012.

Gridstore generates €1.5m in seed funds

Investment

Data storage company Gridstore has completed a €1.5m seed-funding round that will help fund further product development and generate sales in the US. The company has developed a new generation of low-cost data storage based on a grid concept. Enterprise Ireland and a small number of Irish private investors are backing the firm. Announcing the funding yesterday, chairman Chris Horn said: "Gridstore is an example of the type of company the Irish innovation economy can deliver."

Irish Independent

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