Sunday 16 June 2019

Enterprise Ireland pumps €23m into start-ups in 2018

Julie Sinnamon is CEO of Enterprise Ireland
Julie Sinnamon is CEO of Enterprise Ireland
Ellie Donnelly

Ellie Donnelly

Enterprise Ireland invested €23m in Irish start-up businesses last year.

The State agency responsible for the development and growth of Irish companies in global markets supported a total of 132 start-up companies during the year.

Investment was provided in the form of equity through Competitive Start Funds (CSFs) and High Potential Start-Up (HPSUs) funding programmes by the Department of Business, Enterprise and Innovation through Enterprise Ireland.

Funding awarded to start-ups in 2018 included two calls for up to €1.5m in funding open to all sectors.

In addition, the agency provided €500,000 in funding targeting recent graduates, while €750,000 in funding was made available through a Fintech and deep tech CSF.

Joe Healy, manager, HPSU Division, Enterprise Ireland said: "Even in today’s challenging business climate with Brexit looming, the appetite and enthusiasm amongst entrepreneurs is strong."

"In 2018 alone, Enterprise Ireland received over 1,300 start-up enquiries, representing a 30pc increase on the previous year."

Among the companies supported last year by Enterprise Ireland were 82 high potential start-ups, that is businesses with the potential to create 10 jobs and €1m in sales within three to four years of their establishment, and 88 new female-led high potential start-ups.

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