Enterprise Ireland reveals €500k fund aimed at attracting overseas start-ups

26 Aug 2015

The funding will enable start-ups to prototype, build a market-ready product and secure their first key customers

Enterprise Ireland has launched a new €500,000 Competitive Start Fund aimed at attracting international start-ups to locate in Ireland.

The fund is aiming to make a €50,000 investment in 10 companies for a 10pc equity stake as well as other supports such as mentors, development programmes and more.

The call closes on 9 September and applicants will be invited to pitch for the 10 investments during The Start-up Gathering 2015  in October.

The Start-up Gathering 2015 will take place across Ireland from 5 to 10 October, with events being planned across five days, five cities and five industries, promoting entrepreneurship, innovation and Ireland’s start-up sector.

The event is aimed at highlighting the current start-up environment to attract investors from abroad, as well as lure foreign start-ups to Ireland to set up a base in the country.

Backed by the Irish Government and led by Start-up Ireland, it will see Dublin, Cork, Galway, Waterford and Limerick hold events for five days to showcase the start-up scene “to up to 15,000 people”.

Enterprise Ireland’s Competitive Start Fund aims to accelerate the growth of start-up companies and is designed to help companies reach key milestones, including building a prototype, securing customers, achieving “product market fit” and securing a seed round investment from seed funds and venture capitalists.

Dublin image via Shutterstock

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