Minister for Business, Enterprise and Innovation, Heather Humphreys TD and Enterprise Ireland has announced the second Competitive Start Fund (CSF) of the year which will open to all sectors for applications on Tuesday 16th April.
The €750,000 fund will support up to 15 successful start-up companies with an investment of up to €50,000 in equity funding. Closing date for applications is at 3pm on Tuesday 30th April.
The Competitive Start Fund aims to accelerate the growth of early stage start-up companies that have the potential to succeed in global markets. The fund is designed to enable those companies to reach key commercial and technical milestones by providing a critical early-stage financial boost of up to €50,000 to help progress their business plans for the international market.
The All Sector CSF is part of Enterprise Ireland’s strategy to increase the number and quality of High Potential Start-Up (HPSUs) companies that have the potential to employ more than 10 people and achieve €1 million in export sales within three years.
Minister Heather Humphreys TD said: “I am delighted to launch the second call of the Competitive Start Fund, which helps to support start-up activity in Ireland by providing critical early-stage funding to companies. Ireland has a vibrant start-up scene and initiatives like this one provide vital financial and mentoring support at a crucial point in a firm’s journey. I am very pleased that the Government is funding this important initiative and would strongly encourage start-ups from right across the country to consider applying.”
Commenting on the announcement, Teri Smith, Manager - HPSU Start at Enterprise Ireland, said: “The key objective of this fund is to help early-stage start-ups with the potential to scale internationally to get the initial financial boost needed to grow their business. This Competitive Start Fund call provides a support platform for up to 15 successful entrepreneurs and their companies to help them to take the necessary steps to advance their innovative product or service in the global marketplace. In addition to financial support, mentoring opportunities with an extensive team of Enterprise Ireland experts and access to entrepreneurial networks will help companies kick-start their journey to global success.”
In addition to written online applications, companies will be asked to prepare an online video pitch. Full details on the Competitive Start Fund, including the application form and eligibility criteria, can be accessed on the Enterprise Ireland website here.