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Minister Humphreys and Enterprise Ireland announce €750,000 Competitive Start Fund for Irish start-ups in all sectors. The fund will provide up to €50,000 in equity funding for up to 15 successful entrepreneurs and start-ups.

Article by Aakanksha Surve on the Irish Mirror.

Funding of €750,000 has been announced for Irish start-ups by Business Minister Heather Humphreys TD and Enterprise Ireland.

The 2019 Competitive Start Fund (CSF) will be open to all business sectors with the applications starting on January 29.

Up to 15 successful entrepreneurs and start-ups will be provided with nearly €50,000 in equity funding.

Applications close at 3pm on February 12.

Ms Humphreys said: “In Ireland, we have cultivated an environment for entrepreneurs where they can turn innovative ideas into a business reality.

“Targeted initiatives such as the Competitive Start Fund are vital supports for early-stage start-ups and the fund is an integral element of my department’s support for entrepreneurs through Enterprise Ireland.

“As well as crucial funding, the CSF provides valuable business support and networking opportunities to innovative entrepreneurs and companies at the start of their journey.”

The funding is a part of Enterprise Ireland’s strategy for increasing the number and quality of high potential start-up (HPSUs) companies with potential to employ more than 10 people and achieve €1 million in export sales within three years.

Joe Healy, divisional manager, HPSU, Enterprise Ireland, said: “A fundamental aspect of Enterprise Ireland’s support for indigenous businesses is the support for our robust start-up ecosystem, both financially and in terms of mentoring.

“The CSF provides critical, initial funding for early-stage start-ups with the potential to take their product to international markets.

“This All Sector CSF will provide a kick-start for up to 15 companies who have an idea, have a plan, have a team, but don’t have the resources to go to market.

“A funding boost of up to €50,000 in addition to mentoring opportunities and access to networks will help these companies get off the ground.”