Enterprise Ireland calls for start-ups to apply for €750k Competitive Start Fund

25 Sep 2012

From tomorrow, Enterprise Ireland will be accepting applications from start-ups for the next round of funding under its Competitive Start Fund. A total of €750,000 will be available for 15 companies in the ICT and industrial sectors.

According to the Irish Government’s enterprise agency, start-ups that will be eligible to apply for the fund must hail from the ICT or industrial sectors, taking in sub-sectors such as internet, games, apps, mobile, SaaS, cloud computing, enterprise software, life sciences, clean tech and industrial products.

Start-ups will have until Wednesday, 10 October, to apply.

Tom Cusack, manager, communications and digital content in Enterprise Ireland’s HPSU (high-potential start-ups) division, described the fund as a “strategic investment” in these young companies.

“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,” he said.

Under the Competitive Start Fund, start-ups will get an equity investment of up to €50,000 for a 10pc ordinary equity stake. They will also team up with a business mentor.

Carmel Doyle was a long-time reporter with Silicon Republic