Enterprise Ireland calls for applicants for Competitive Start Fund

The initiative gives young companies early stage funding to test the market for their products and grow their businesses for the global marketplace.

Minister for Jobs, Enterprise and Innovation Richard Bruton announced that four more rounds of the Competitive Start Fund are planned for 2012. The first one launches today and the closing date for applicants is 9 February.

The call is open to start-ups from ICT and industrial sectors, including sub-sectors such as gaming, the internet, SaaS, cloud computing, enterprise software, telecoms, life sciences, clean tech and industrial products.

“If we are to get out of this crisis, we must work hard to create an indigenous engine of growth,” said Bruton.

“While multinational investment in Ireland is and will remain crucial, it is vital that we find ways of enabling our indigenous firms to perform better and take full advantage of export opportunities.

“As I have said before, our industrial policy must not just be aimed at attracting the next Google or Microsoft to Ireland – we must strive to create the next Google or Microsoft here in Ireland, and in the coming weeks the Government’s Action Plan for Jobs will implement a series of measures to deliver on our ambitious aims.

“Enterprise Ireland’s Competitive Start Fund has clearly struck a chord with the innovative and ambitious entrepreneurial community. The continuing strong response and the quality of the applications submitted is proof that there are significant numbers of entrepreneurs with the necessary technical and commercial skills willing to take a risk and set up their own businesses.

“My priority is to ensure that they are fully supported to do what they do best, starting new businesses. Access to early stage funding is critical, and this fund is part of the Government’s and Enterprise Ireland’s response to support them to get into business, expand, create jobs and contribute to our recovery,” he said.

Fifteen companies awarded

The Enterprise Ireland Competitive Start Fund was awarded to 15 companies as part of one of the four rounds of funding rolled out by Enterprise Ireland over the past 12 months. The companies awarded include:

• Full Health Medical: A Mayo-based firm which offers a software system for preventative health reporting
• G Croí Teoranta: A company in Donegal which makes electromagnetic induction heating technology to increase efficiency of liquid heating devices
• ODG Technologies: A Cork-based developer of accessories for the public safety industry
• Eyebuild: A Cork-based manufacturer of training devices for sports
• Incidentcontrolroom.com: A firm in Cork which offers a cloud-based software application to handle crisis management for large manufacturing and pharmaceutical facilities
• Eegapps Medical: A Dublin-based company which offers brain monitoring products for neonatal applications
• Breakout Gaming Concepts: A digital toy and game design company in Dublin
• Activation Energy DSU: A Dublin-based firm which offers software and systems to facilitate smart-grid demand response management
• Zinc Software: A Dublin-based software and hardware developer for health and well-being lifestyle solutions
• SeniorsAtHome: A Waterford firm which developes a communications device for older adults and lets family and friends know if they are in need of assistance
• Monford Ag Systems: A firm based in Wicklow and Mayo which offers a product to assist farmers in grass measurement and grassland management
• Intellehealth: A Kilkenny firm which offers telehealthcare end-to-end service for monitoring and managing chronic diseases from a home environment
• Health PR Zone: A Kildare-based company for services around medical and healthcare news
• Mobile Protection Systems: A Louth-based company which offers a road safety barrier system
• BYO Responsible Water Solutions Ltd: A Limerick-based firm that develops advanced water and waste-water filtration membrane technology.

Laura O'Brien | |