Minister for Business, Enterprise & Innovation, Heather Humphreys TD pictured with Martin O'Connell, CEO of Nasal Medical and Jennifer Melia, Manager of Enterprise Ireland's HPSU
Enterprise Ireland’s final Competitive Start Fund (CSF) of 2019 will open to all sectors for applications on Tuesday, September 24.
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, 8th October 2019.
The All Sector Competitive Start Fund 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. Those operating within subsectors such as Internet, Games, Apps, Mobile, SaaS, Cloud Computing, Enterprise Software, Life sciences, Cleantech and Industrial Products are also eligible.
Commenting on the announcement, Minister for Business, Enterprise and Innovation, Heather Humphreys TD said: “The rate of early stage entrepreneurship in Ireland continues to increase and we now rank fifth highest among European countries.
The funding supports offered by the Department of Business, Enterprise and Innovation through Enterprise Ireland contribute greatly to nurturing the start-up eco-system 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.
“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.”
“This is a positive trend in terms of our future export capabilities and strategies for internationalising Irish businesses in facing the Brexit challenge.”
The Manager of Enterprise Ireland’s Higher Potential Start-Ups Unit, Jennifer Melia added: “In an increasingly challenging business environment, the provision of Enterprise Ireland’s funding and advisory supports has never been more crucial.
“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.
“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 today.”
Full details on the All Sectors Competitive Start Fund, including the application form and eligibility criteria, can be accessed on the Enterprise Ireland website: www.enterprise-ireland.com/ CSFAllSectors