Dáil Éireann Debate, Wednesday - 6 March 2013
120. Deputy Patrick O'Donovan asked the Minister for Jobs, Enterprise and Innovation when he expects to see the creation of the seed and venture capital scheme as referred to in the Action Plan for Jobs; if he has established thresholds for applicants to the scheme; if the creation of this scheme will require legislation; and if he will make a statement on the matter. [12003/13]
Amharc ar fhreagraThe Government’s intention for a new Seed and Venture Capital Scheme was announced as part of Budget 2013. In line with the commitment in Action 71 of the Action Plan for Jobs 2013 the first call for expressions of interest under the proposed Scheme will be publicly issued before the end of Q2. This expression of interest process will be targeted at venture capital fund managers. The proposed Scheme does not require legislation. Under Section 7(1)(i) of the Industrial Development (Enterprise Ireland) Act 1998 a Scheme document will be approved by me and the Minister for Public Expenditure and Reform. This document will give Enterprise Ireland the legal authority to administer the Scheme. Enterprise Ireland in consultation with my Department will then determine the relevant thresholds and criteria for each call for expressions of interest under the Scheme as they are issued.
