Latest €750,000 Competitive Start Fund will back 15 start-ups

3 Apr 2019899 Views

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From left: Teri Smith, Enterprise Ireland; Adrian Walsh, CheckVentory; and Minister Heather Humphreys, TD. Image: Shane O’Neill/SON Photographic

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All-sector fund aimed at supporting firms with a global vision.

A new Enterprise Ireland Competitive Start Fund (CSF) aimed at all sectors has been launched by Minister for Business, Enterprise and Innovation Heather Humphreys, TD.

The new fund will be open for applications on Tuesday 16 April and the deadline for entries is 3pm on Tuesday 30 April.

‘Ireland has a vibrant start-up scene and initiatives like this one provide vital financial and mentoring support at a crucial point in a firm’s journey’
– HEATHER HUMPHREYS

The €750,000 fund will support up to 15 successful start-up companies with an investment of up to €50,000 in equity funding each.

In addition to written online applications, companies will be asked to prepare an online video pitch to accompany their application. More information on the fund can be accessed here.

Quality and quantity

“Ireland has a vibrant start-up scene and initiatives like this one provide vital financial and mentoring support at a crucial point in a firm’s journey,” Humphreys said.

“I am very pleased that the Government is funding this important initiative and would strongly encourage start-ups from right across the country to consider applying.”

The all-sector CSF is part of Enterprise Ireland’s strategy to increase the number and quality of high-potential start-up (HPSUs) with the potential to employ more than 10 people and achieve €1m in export sales within three years.

“The key objective of this fund is to help early-stage start-ups with the potential to scale internationally to get the initial financial boost needed to grow their business,” explained Teri Smith, manager of HPSU Start at Enterprise Ireland.

“This Competitive Start Fund call provides a support platform for up to 15 successful entrepreneurs and their companies to help them to take the necessary steps to advance their innovative product or service in the global marketplace.

“In addition to financial support, mentoring opportunities with an extensive team of Enterprise Ireland experts and access to entrepreneurial networks will help companies kick-start their journey to global success,” Smith said.

John Kennedy is an award-winning technology journalist who served as editor of Siliconrepublic.com for 17 years.

editorial@siliconrepublic.com