Dáil Éireann Debate, Tuesday - 18 September 2012
607. Deputy Paudie Coffey asked the Minister for Jobs, Enterprise and Innovation the number of businesses in County Waterford which have applied for and which have been awarded a competitive start fund worth €50,000; and if he will make a statement on the matter. [38004/12]
Amharc ar fhreagraA key focus of Enterprise Ireland’s strategy is the commitment to increase the number of new High Potential Start-up companies approved annually from 73 in 2009 to 100 in 2013. To contribute to achieving this objective, Enterprise Ireland launched a new competitive programme called the “Competitive Start Fund” in December 2010. The purpose of the Competitive Start Fund is to accelerate the growth of start-up companies that have the capability to succeed in global markets. The Competitive Start Fund provides support of up to €50,000 in equity matched by €5,000 of promoters equity to companies to test and prove product/market fit at an earlier stage of development.
This fund is open to applications from early stage companies from the following sectors: Internet, Games, Mobile, Apps, SaaS, Cloud Computing, Enterprise Software, Lifesciences, Cleantech and Industrial Products, who meet the relevant eligibility criteria. Since the launch of the Competitive Start Fund in December 2010, Enterprise Ireland has had over 800 applications across 7 calls with 100 companies receiving €50,000 of equity funding. To date, Enterprise Ireland have received applications from 12 businesses in Co Waterford with one company being approved €50,000. The next call for applications will open on September 26th 2012.
