The funding will go to the winner of the Docklands Innovation Park Enterprise Awards.
Tony Staunton of Propertygate, Kevin Ryan of Pura Light and Tim Schmidt of Simply Connected will now each pitch their investment to an experienced panel of judges at an event on March 6.
The three finalists are all participants in Dublin Institute of Technology's (DIT) Hothouse New Frontiers Programme.
The award is supported by PwC, which will host the final at its offices at One Spencer Dock, North Wall Quay, Dublin 1. The Docklands Innovation Park Enterprise Awards have been running for 20 years.
The finalists are all involved in technology. Propertygate develops web-based tools for managers of major property portfolios.
Pura Light uses ultraviolet light to help control infection in hospitals. Simply Connected has developed a software platform to manage and monitor 'smart' devices, tapping into the wider shift to using internet-based technology to control and monitor physical equipment, the so-called internet of things.
The judging panel includes: Ciaran Crean, founder of MicksGarage.com; John O'Dea, from Enterprise Ireland; Orla Rimmington of Kernel Capital; and Richard Watson of the Dublin Business Innovation Centre.