Competitive Start Fund Offers €50,000

11 Jan 2018 | 10.58 am

Competitive Start Fund Offers €50,000

Applications deadline February 6th

11 Jan 2018 | 10.58 am

Enterprise Ireland’s first Competitive Start Fund of the year will open to all sectors for applications on Tuesday 23 January 2018.

The €750,000 fund will provide up to €50,000 in equity funding for up to 15 successful applicants. The fund closes to applications at 3pm on Tuesday, 6 February 2018.

The agency said the purpose of the Competitive Start Fund is to accelerate the growth of startup companies that have the capability to succeed in global markets.

The fund is designed to enable those companies reach key commercial and technical milestones, including evaluating overseas market opportunities, building prototypes, developing market entry plans and securing third party investment.

Applications from individuals, early stage companies or prospective businesses active in the manufacturing and internationally traded services sectors, particularly within ICT, are invited. The following subsectors are included: Internet, Games, Apps, Mobile, SaaS, Cloud Computing, Enterprise Software, Lifesciences, Cleantech and Industrial Products.

Business minister Heather Humphreys said the CSF is part of Enterprise Ireland’s strategy for increasing the number and quality of High Potential Startup companies (HPSUs) that have the potential to employ more than 10 people and achieve €1m  in export sales within three years. “The rates of early stage entrepreneurship in Ireland have returned to pre-recession levels, but in order to grow our levels of startup activity, supports like Enterprise Ireland’s Competitive Start Fund are vital,” she added.

Tom Early, Department Manager, HPSU Start in EI, commented: “This All Sector CSF, with a particular focus on the ICT sector, is the first of eight startup funds planned for 2018 and provides a kick-start for innovative early stage companies to get off the ground while receiving a critical funding boost of up to €50,000.”

In addition to written online applications, companies will be asked to prepare an online video pitch.

• Click here for application details.

 

Photo: Minister Heather Humphreys with EI executives Keith Brock (left) and Tom Early (right), and Ian Nolan, CEO of Brightflag. (Pic: Karl Hussey / Fennell Photography)

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