A new €500,000 Enterprise Ireland Competitive Start Fund to support start-up activity in the agricultural and manufacturing sectors has been launched by the Minister for Jobs, Enterprise and Innovation, Mary Mitchell O’Connor today.
The Enterprise Ireland Fund which provides €50,000 in equity funding for each successful applicant will open for submissions on Wednesday 21st September 2016 and will close at 3pm Wednesday 5th October 2016.
Now in its second year, the purpose of the Competitive Start Fund is to stimulate growth for start-up companies working in areas of agriculture and manufacturing that have the capability to succeed in global markets.
The fund is designed to enable those companies reach key commercial and technical milestones, that will ensure delivery of their product or service to an international audience.
It is open to applications from individuals, early stage companies or prospective businesses operating in the agri-business sector.
Manager of High Potential Start Ups at Enterprise Ireland, Anne Lanigan said, "Agri engineering is worth €250 million in exports to the Irish economy and this fund is seeking to encourage and support the next generation of engineering and manufacturing companies coming through in the agriculture sector."
She added, "The Competitive Start Fund is part of Enterprise Ireland’s strategy for increasing the number and quality of high potential start-up companies that have the potential to employ more than 10 and achieve €1 million in export sales within three years."