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Govt sets up fund for Midlands start-ups

Wednesday, October 31 11:17:54

The Minister for Small Business, John Perry, today launched the new Enterprise Ireland E200,000 Competitive Feasibility Fund aimed at stimulating start ups and creating jobs and growth in the Midlands Region.

This covers Counties Laois, Longford, Offaly and Westmeath.

The fund, which can provide up to E25,000 per project, is now open for applications from entrepreneurs, and will remain open until Tuesday 20 November 2012.

The Competitive Feasibility Fund is aimed at supporting entrepreneurs or new start-up companies to explore the feasibility of start-up ideas with job-creating potential to be located in the Midlands Region. Its particular focus is on growth-oriented businesses with the potential to move into export markets over time. The funding will enable the promoters to reach firm conclusions regarding the project's viability and set out investor ready plans for developing and commercialising the innovative product or service on international markets.

The fund is open to applications from the ICT, Industrial and Food sectors including the following sub-sectors: Internet, Games, SaaS, Cloud Computing, Enterprise Software, Telecoms, Lifesciences, Cleantech, and Industrial Products.

'This Fund will support entrepreneurs and start-up companies to develop innovative ideas into high-growth businesses that will create jobs in the Midlands Region. I strongly encourage people with new and innovative business ideas with high job-creation potential to step forward and compete for the funds available through this exciting initiative. In this way, by nurturing such ventures, we can create high-value and high-growth companies that will drive job creation in the Midlands Region," Minister Perry said.