The Minister for Business, Enterprise and Innovation, Heather Humphreys TD, has announced two new Competitive Start Funds (CSFs) totalling up to €1 million to support international entrepreneurs and start-ups led by experienced business professionals. The funds, which will run simultaneously, will be administered by Enterprise Ireland.

The CSF for international entrepreneurs is a competition specifically for start-ups that are currently internationally-based but are willing to relocate to Ireland, while the CSF for experienced business professionals is directed at highly experienced business professionals with 25 years or more of relevant business experience in Ireland or abroad, of which at least 10 years should be at a senior or leadership level.

Each fund will provide up to €50,000 in equity funding for up to 10 successful applicants and will open for submissions on Tuesday, 21st August and will close on Tuesday, 4th September. 
 
As well as securing up to €50k in funding, the successful applicants to the CSF for experienced business professionals will have the opportunity to participate in a business development programme delivered over three months by DCU Ryan Academy.

The CSF is part of Enterprise Ireland’s strategy for increasing the number and quality of High Potential Start-Up Companies (HPSUs) that have the potential to employ more than 10 persons and achieve €1 million in export sales within three years.
 
Launching the fund last week, Minister Heather Humphreys said, "Ireland is a hub of start-up activity and by attracting talented international entrepreneurs to Ireland and encouraging the development of business ideas by mature, highly-skilled professionals, the CSF is crucial for the development of Ireland’s start-up ecosystem."

Source: www.businessworld.ie