Enterprise Ireland is launching its final €750,000 Competitive Start Fund of 2019, providing 15 companies that are successful with equity funding of €50,000 each.

The all-sector Competitive Start Fund (CSF) is part of Enterprise Ireland’s strategy for increasing the number of High Potential Start-Up companies (HPSUs) that have the qualities to achieve key commercial and technical milestones, including evaluating overseas market opportunities, building prototypes, developing market entry plans and securing third party investment.

Individual entrepreneurs, early stage companies or prospective businesses that are active in the manufacturing and internationally traded services sectors are being encouraged to apply.

“Ambitious entrepreneurs at the outset of their journey developing a product or service can really benefit from the fund and I urge anyone with the drive to see it through, to get their application in”

Those operating within subsectors such as internet, games, apps, mobile, SaaS, cloud computing, enterprise software, life sciences, cleantech and industrial products are also eligible.

Full details on the All Sectors Competitive Start Fund, including the application form and eligibility criteria, can be accessed on the Enterprise Ireland website.

Go for it

“The rate of early stage entrepreneurship in Ireland continues to increase and we now rank fifth highest among European countries,” said the Minister for Business, Enterprise and Innovation Heather Humphreys, TD.

“The latest Global Entrepreneurship Monitor (GEM) report found that more than one in three entrepreneurs surveyed expect to attain a quarter or more of their sales in international markets. Enterprise Ireland’s Competitive Start Fund could help make that a reality.”

The funding supports offered by the Department of Business, Enterprise and Innovation through Enterprise Ireland are aimed at nurturing the start-up ecosystem in Ireland and supports like the Competitive Start Fund can often be the boost that a start-up needs to develop and realise the potential of their idea.

“In an increasingly challenging business environment, the provision of Enterprise Ireland’s funding and advisory supports has never been more crucial,” said Jennifer Melia, manager of Enterprise Ireland’s High Potential Start-ups Unit.

“The Competitive Start-Up Fund can boost or accelerate the growth of any start-up company that has the potential to succeed in global markets. Companies such as Nasal Medical have utilised the full worth of the Competitive Start Fund and are a real testament as to how it can help benefit and further develop your business as they continue to build scale and expand their reach in new global markets since being awarded the fund,” said Melia.

“Ambitious entrepreneurs at the outset of their journey developing a product or service can really benefit from the fund and I urge anyone with the drive to see it through, to get their application in.”

Pictured above: Minister for Business, Enterprise & Innovation, Heather Humphreys, TD (centre), with Martin O’Connell, CEO of Nasal Medical and Jennifer Melia, manager of Enterprise Ireland’s HPSU. Image: Shane O’Neill, SON Photographic

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Written by John Kennedy (john.kennedy3@boi.com)

Published: 12 September, 2019