Wednesday, 10 July 2013

Questions (19)

Peadar Tóibín

Question:

19. Deputy Peadar Tóibín asked the Minister for Jobs, Enterprise and Innovation the number of additional jobs he expects to be created by the establishment of the €375,000 Enterprise Ireland competitive feasibility fund. [33490/13]

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Written answers (Question to Jobs)

Enterprise Ireland launched the new Enterprise Ireland €375K Competitive Feasibility Fund on Monday 1st July 2013 aimed at stimulating new start-ups, or expansion of existing business activity in the aviation sector. This fund, which can provide up to €25,000 per project for 15 projects, is now open for applications, and will remain open until Monday 16th September 2013.

It is difficult to validate employment projections at a feasibility stage of a project but Enterprise Ireland is confident that a number of these projects will progress to High Potential Start-Up businesses and at that point validated job projections will be possible. The Competitive Feasibility Fund will support new start-up companies or individual entrepreneurs to investigate the viability of a new significant growth oriented business or proposition in the aviation sector. It will also support established companies or groups of businesses examine the potential for expansion, diversification or spinning out of a new enterprise in the industry. The funding will enable the promoters to reach firm conclusions regarding the project's viability and strategies for developing and commercialising the innovative product or service on international markets.

The fund is open to applications from the Aviation Sector including financial services associated with the sector, Aircraft and Engine leasing, Aviation software and IT, Training, Travel related software and related services, Small Aircraft Assembly, Aircraft Dismantle, Maintenance Repair Operations Airframe and Components, Composite Repair, Parts Manufacture, Aviation Services, and other engineering and technical activities.