Female entrepreneurs welcomed for €500,000 start-up fund

10 Nov 2016145 Shares

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Enterprise Ireland has opened a €500,000 start-up fund for female entrepreneurs. Image: Syda Productions

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A new start-up fund exclusively targeting female entrepreneurs will see €50,000 set aside for up to 10 successful applicants.

With €500,000 allocated in total, Enterprise Ireland’s new competitive start-up fund for female entrepreneurs is hardly a first, as similarly targeted campaigns have been running for five years now.

Ten separate funds of €50,000 are available, aimed at female-led start-up companies that “have the potential” to employ more than 10 people and achieve €1m in export sales within three years.

Entrepreneurs

This would make them high potential start-ups (HPSU), the poster children of the Government’s job expansion tactics. Applications are open until 23 November.

Yvonne Brady, founder and CEO of EVB Sports, and a previously successful applicant, said the fund helped her “to springboard” to the next level.

“Securing the financial support allowed EVB Sport to trade at a global scale,” she said. “The [fund] is not all about the financial backing – we also secured enormous support from Enterprise Ireland in terms of new contacts and doors opening, which otherwise may have stayed closed.”

The fund is designed to enable HPSUs reach key commercial and technical milestones, which will ensure delivery of their product or service to an international audience. It’s open to applications from female entrepreneurs or female-led start-ups active in the manufacturing and internationally traded services sectors.

“This is a dedicated [fund] to encourage more women to start businesses, providing a launch platform for female entrepreneurs,” said Orla Battersby, manager of HPSUs in Enterprise Ireland, said.

“[Our priority] is to help Irish entrepreneurs with global ambition to start their businesses, and the €500,000 fund will go towards supporting the next generation of female-led start-ups to compete in export markets.”

Anyone interested in applying can do so here.

Gordon Hunt is senior communications and context executive at NDRC. He previously worked as a journalist with Silicon Republic.

editorial@siliconrepublic.com