€500,000 For Startups Outside Dublin

22 Feb 2018 | 07.46 am

€500,000 For Startups Outside Dublin

Enterprise Ireland outlines funding priorities

22 Feb 2018 | 07.46 am

Enterprise Ireland has announced a new €500,000 Competitive Start Fund for startups based in regions other than Dublin which opens for applications on February 27.

The fund will provide up to €50,000 in equity funding for up to 10 successful applicants. The fund closes to applications at 3pm on March 13.

EI says it invested €31m in Irish startups in 2017, supporting a total of 181 companies, with the money provided through its High Potential Startup and Competitive Start Fund programmes.

HPSU manager Joe Healy said: “Cultivating an environment that allows startups and entrepreneurs with global ambition to prosper is a key focus of Enterprise Ireland. Last year, we supported high quality startups that we believe have the potential to scale and expand in international markets. Over one third were female-led startups, continuing our emphasis on supporting startups in under-represented sectors.

“In 2018 we will be putting a spotlight on companies in the MarineTech and DeepTech sectors, which we see as strategically important sectors,” Healy added.

Among the startups supported by EI last year were 90 new HPSUs — businesses with the potential to create 10 jobs and €1m in sales within three to four years.

There were 15 spinout companies from the third level sector, and 166 entrepreneurs participated in the nationwide New Frontiers programme, while there were 18 investments in overseas entrepreneurs who moved to Ireland to establish their businesses.


Photo (l-r): Julie Sinnamon, CEO Enterprise Ireland; Roseanne Longmore, CEO of Coroflo; business minister Heather Humphreys, and  Terence O’Rourke, chairman of Enterprise Ireland. (Pix: Chris Bellew /Fennells)

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