Two Competitive Start Fund (CSF) competitions worth a total of €1 million in funding from Enterprise Ireland will open for applications to international entrepreneurs and recent graduates on Wednesday, March 8.
Up to twenty successful applicants will receive high-level business development support and an investment of up to €50,000 each. The CSF is designed to accelerate the growth of start-ups and enable companies to reach key commercial and technical milestones.
Applications are invited from ambitious graduates and international entrepreneurs with early stage companies capable of succeeding in global markets, creating jobs and growth.
Minister for Jobs, Enterprise and Innovation, Mary Mitchell O’Connor TD said: “Last year, Enterprise Ireland supported 128 start-ups through Competitive Start Funds which inject critical early stage funding into businesses. The launch of the International and Graduate Entrepreneurship CSFs, amounting to a total of €1 million in funding, will provide valuable financial and business support to overseas entrepreneurs and recent graduates who have global ambition for their businesses”.
The funds are open to companies active in manufacturing and internationally traded services including Internet, Games, Apps, Mobile, SaaS, Cloud Computing, Enterprise Software, Lifesciences, Food, Cleantech and Industrial Products.
Julie Sinnamon, CEO, Enterprise Ireland said: “We are delighted to announce €1 million in funding for graduate and international entrepreneurs. A key focus of Enterprise Ireland is to encourage more entrepreneurs to start up their businesses in Ireland. In 2016, we supported thirty-three new start-ups which were established by overseas entrepreneurs and included entrepreneurs from Russia, Europe and the United States.
“The International Entrepreneurship CSF is a competition specifically for start-ups that are currently based overseas but are willing to relocate to Ireland and successful applicants from outside the EU will be eligible for a Startup Entrepreneur Visa. The Graduate Entrepreneurship CSF is open to final year students and graduates with a third level qualification within the last three years”.
In addition to written online applications, companies will be asked to prepare an online video pitch. Companies must meet certain eligibility criteria and applicants may apply for either the International Entrepreneurship or the Graduate Entrepreneurship CSF, but not both.