Business News

Enterprise Ireland launches new Competitive Start Fund

By Business & Finance
15 September 2015
Ged Nash TD
Ged Nash TD, Minister for Business and Employment

Ged Nash TD, Minister for Business and Employment, has launched a new €500,000 Enterprise Ireland Competitive Start Fund to stimulate start-up activity in the agricultural and manufacturing sectors.

This fund, which provides for up to €50,000 in equity support for each successful applicant, will open for applications on September 16th and closes at 3pm on September 30th.

The new fund – the first of its type targeting the agricultural and manufacturing sectors – will help start-up and early stage companies to get off the ground and launch new products and services in the international marketplace.

The fund is open to applications from individuals, early stage companies or prospective businesses operating in the agri-business sector including; machine design and manufacturing; fabrication, engineering and technical activities; life sciences products with application in the agri-sector; farm related software and related services; vet-pharma, animal health and chemical products. Early stage food companies with the potential to export are also encouraged to apply.

Targeting start-ups and early stage companies that have the capability to succeed in global markets, the objective is to stimulate start-up activity in the agricultural and manufacturing sectors.

Ged Nash TD said: “A key part of the Government’s Action Plan for Jobs is targeting specific sectors where we have established strengths, and supporting growth and expansion in those areas in order to create jobs. In Ireland we have very strong agricultural and manufacturing sectors, with great entrepreneurs at the coalface of international business competition. New businesses create two-thirds of all new jobs in the economy, and we have made a deliberate decision to support more start-ups in sectors where we have real established strengths. This Fund will make a real contribution to supporting more businesses and ultimately more jobs in these important sectors”.

John O’Dea, manager, High Potential Start-Ups at Enterprise Ireland added: “This fund is the first of its type specifically targeting the agricultural and manufacturing sectors, and will provide a package of financial and developmental supports for early stage and potential start-ups. Applications will be considered on a competitive basis and the financial support will be in the form of equity investment”.

For full details about the fund and how to apply, click here.