Dáil Éireann Debate, Tuesday - 18 September 2012
559. Deputy Dara Calleary asked the Minister for Jobs, Enterprise and Innovation the level of funding available for the job expansion fund and the competitive start fund in 2011; if this has changed since the budget; if the conditions have changed since the budget; and if he will make a statement on the matter. [37386/12]
View answerThe objective of the Job Expansion Fund is to assist Enterprise Ireland client companies with significant growth potential achieve increased employment. A company can obtain grant support up to a maximum of €150,000 towards the recruitment of new employees. Under the Fund, commitments of €4.7m were made for 2011. The Job Expansion Fund is continuing along similar lines and so far in 2012, funding of €4.7m has been approved.
The Competitive Start Fund is focused on accelerating the growth of Lifesciences, Cleantech and Industrial start-up companies that have the capability to succeed in global markets. The Fund is designed to enable those companies reach their key commercial and technical milestones. The Fund is a competitive one with 4 calls for applications in 2011 and 3 calls to date in 2012 with a fourth call scheduled for the end of September.
In 2011 €2.75m was available in equity support and €96,250 in mentor support. The full amount was approved with 55 companies supported. In 2012, €3m has been made available in equity support and €105,000 in mentor support. It is expected that 60 companies will be supported under the Competitive Start Fund in 2012.
