15 companies to benefit from latest €750k Competitive Start Fund

17 Jan 2013

Enterprise Ireland has launched the latest phase of its Competitive Start Fund with €750,000 available to up to 15 start-ups. So far, 60 companies have been funded under the scheme.

The closing date for the latest €750,000 funding round is Wednesday, 23 January.

The call is open to start-ups in the ICT and industry sector, including companies in the areas of internet, gaming, apps, mobile, software, life sciences, clean tech and industrial products.

“We see this fund as a strategic investment in these young companies,” said John O’Dea, manager at Enterprise Ireland’s Communications and Digital Content and High Potential Start-Up division.

“They represent some of Ireland’s newest and most exciting entrepreneurs and this fund gives a vital injection of funding and support when they most need it,” O’Dea said.

The Competitive Start Fund provides young companies with the critical early stage funding they need to test the market for their products and services and progress their business plans for the global market.

Some 30 companies received funding under the scheme in 2012, bringing to 60 the total funded so far.

Making it easier for entrepreneurs to get to market

“Enterprise Ireland’s Competitive Start Fund is part of a suite of finance measures aimed at making it easier for these entrepreneurs to get into business, expand, export and create the jobs we need,” the Minister for Jobs, Enterprise and Innovation Richard Bruton explained.

“Over the past year we have developed a series of new finance instruments, including the Micro Finance Scheme, the Credit Guarantee Scheme, the €700m Seed and Venture Capital Scheme and the €850m NPRF funds,” Bruton said.

Start position image via Shutterstock

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years