Companies looking for money for their start-ups have been advised that applications can be made to apply for funding from January 23.
The €750,000 fund will provide up to €50,000 in equity funding for up to 15 successful applicants. The fund closes to applications at 3pm on Tuesday, 6th February 2018.
The purpose of the Competitive Start Fund is to accelerate the growth of start-up companies that have the capability to succeed in global markets. The fund is designed to enable those companies reach key commercial and technical milestones, including evaluating overseas market opportunities, building prototypes, developing market entry plans and securing third party investment.
Applications from individuals, early stage companies or prospective businesses active in the manufacturing & internationally traded services sectors, particularly within ICT, are invited. The following subsectors are included: Internet, Games, Apps, Mobile, SaaS, Cloud Computing, Enterprise Software, Lifesciences, Cleantech and Industrial Products.
The All Sector CSF is part of Enterprise Ireland’s strategy for increasing the number and quality of High Potential Start-Up companies (HPSUs) that have the potential to employ more than 10 people and achieve €1 million in export sales within three years.
Minister for Business, Enterprise and Innovation, Heather Humphreys TD said: “I’m delighted to see that the rates of early stage entrepreneurship in Ireland have returned to pre-recession levels, but in order to grow our levels of start-up activity, supports like Enterprise Ireland’s Competitive Start Fund are vital. As well as crucial funding, the CSF provides valuable business support and networking opportunities to innovative entrepreneurs and companies at the start of their journey.”
Commenting on the announcement, Tom Early, Department Manager, HPSU Start, Enterprise Ireland, said: “A key priority for Enterprise Ireland is to help Irish entrepreneurs and companies with global ambition to start and grow their businesses internationally. This All Sector CSF, with a particular focus on the ICT sector, is the first of eight start-up funds planned for 2018 and provides a kick-start for innovative early stage companies to get off the ground while receiving a critical funding boost of up to €50,000.”
In addition to written online applications, companies will be asked to prepare an online video pitch. Full details on the All Sectors Competitive Start Fund, including the application form and eligibility criteria, can be accessed on the Enterprise Ireland website: www.enterprise-ireland.com/
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