Thursday 14 December 2017

New €750,000 Enterprise Ireland start-up fund opens for submissions this month

The fund provides €50,000 in equity funding for each successful applicant Stock Image
The fund provides €50,000 in equity funding for each successful applicant Stock Image
Louise Kelly

Louise Kelly

Enterprise Ireland has announced a new €750,000 fund created to support start-up activity across all sectors.

The Competitive Start Fund (CSF) provides entrepreneurs with the critical early stage funding to test the market for their products and services.

The fund - which provides €50,000 in equity funding for each successful applicant - allows for start-ups to progress their business plans for the global marketplace.

CSF is designed to enable those companies reach key commercial and technical milestones, including:

*Evaluate overseas market opportunities and reach firm conclusions regarding the viability of the proposed business

*Building a prototype

*Secure a reference site

*Develop a market entry plan for exploiting international opportunities

*Secure partnership deal or strategic alliance

*Identify suitable channels to international markets

*Secure third party investment

The fund is open to applications from individuals, early stage companies or prospective businesses active in the manufacturing & internationally traded services sectors which includes the following subsectors: Internet, Games, Apps, Mobile, SaaS, Cloud Computing, Enterprise Software, Lifesciences, Cleantech and Industrial Products.

“A key aim of the Government’s Action Plan for Jobs is to drive a strong pipeline of ambitious entrepreneurs with progressive products and services," Minister for Jobs, Enterprise and Innovation Mary Mitchell O’Connor TD said.

"Ireland is recognised as a hub for innovation and start-ups and this fund will make a real contribution to help more early stage businesses get off the ground and ultimately assist in creating more jobs around all regions of the country”.

The all sector CSF fund will open for submissions on Wednesday January 25 and will close at 3pm, Wednesday February 8.

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