Innovation
Innovation: Today's scheme is a €500,000 startup fund for graduates
By Finfacts Team
May 29, 2014 - 4:12 PM

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Irish Innovation: Today's announcement from the Enterprise department is a €500,000 Enterprise Ireland Competitive Start Fund targeted at stimulating new start-up business activity for graduates. This fund will provide for up to €50,000 in support for each successful applicant. The fund will open for applications on Wednesday 9th July and closes at 3pm on Wednesday 23rd July 2014. Applicants must have graduated with a FETAC level 8 qualification in the last 3 years.

The Government says: "Young entrepreneurs and third level students are a seed bed for future business startups and as such they should be part of Ireland getting back on its feet, and the drive to stimulate more micro and small business activity."

Imbalance in focus on tech and non-tech entrepreneurship in Ireland & elsewhere - Part 1 - there is an obsession with high tech as if that is the only key sector of the economy.

The Government added: "Today’s announcement forms part of a broader strategy, laid out in the Government’s Action Plan for Jobs, aimed at encouraging a higher level of entrepreneurship and startups. In recent weeks the Government announced a new county-based competition to find Ireland’s Best Young Entrepreneur, with a total of €2m available to invest in winning businesses.

This €500,000 Competitive Start Fund for graduates will help star up and early stage companies to get off the ground and launch new products and services in the international marketplace. The priority of the Fund is to provide graduates with the critical early stage funding for the key commercial and technical milestones that will ensure delivery of their product or service, and help them get their project to a key funding milestone.

Applications are welcome from Manufacturing & Internationally Traded Services sector to startup businesses involved in activities such as Internet, Games, Apps, Mobile, SaaS, Cloud Computing, Enterprise Software, Lifesciences, Food, Cleantech and Industrial Products."


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