€1m made available for two new Enterprise Ireland start-up funds

23 Aug 2016173 Shares

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Two separate start-up funds have been set up by Enterprise Ireland, with up to 20 companies set to be backed to the tune of €50,000 each.

Enterprise Ireland’s investments into Ireland-based start-ups show no signs of slowing, with two new funds totalling €1m to come on stream soon.

Starting tomorrow (24 August), start-ups operating in fields such as games, apps, mobile, SaaS, cloud, enterprise software, life sciences, food, cleantech and industrial products are welcomed to apply for the funds.

Funding

Funding

The competitive start funds (CSF) are called the International Entrepreneurship CSF and the Graduate Entrepreneurship CSF.

The former is a competition specifically for start-ups that are currently based overseas but are willing to relocate to Ireland. Successful applicants from outside the EU will be eligible for a visa.

For the latter, applicants must be a graduate who obtained a third-level qualification within the last three years.

In addition to written online applications, companies will be asked to prepare an online video pitch, and you can’t apply for both funds.

Form

Last week, Enterprise Ireland released a new feasibility fund for agritech start-ups, with a maximum of €200,000 set aside for the next wave of high potential start-ups (HPSUs).

The purpose of the fund is to enable promoters to assess the viability and market potential of their business ideas, with those “likely to achieve significant growth within three to four years, with sales of €1m-plus per annum and employment of 10 or more”, in the spotlight.

Back in May, €500,000 was allocated for 10 start-ups operating in the fintech sphere.

Main funding image via Shutterstock

Gordon Hunt is a journalist at Siliconrepublic.com

editorial@siliconrepublic.com