See Search Box
lower down this column for searches of Finfacts news pages. Where there may be
the odd special character missing from an older page, it's a problem that
developed when Interactive Tools upgraded to a new content management system.
Finfacts is Ireland's leading business information site and
you are in its business news section.
Bruton, minister for jobs, enterprise and innovation, said today that "we
must strive to create the next Google or Microsoft here in Ireland."
Up to 15 entrepreneurs and start-ups are set to benefit from a €750k fund
to be launched this week.
He named 30 companies
that have recently been awarded funding under Enterprise Ireland’s
Competitive Start Fund, and announced a new call for applicants to the fund. The Competitive Start Fund provides young companies in the
ICT & Industrial sectors "with the critical early stage funding to test the
market for their products and services and progress their business plans for
the global marketplace."
Bruton announced the final open call
for applications to the fund for 2012, to be launched on Wednesday 26th September
2012, with advertisements in national press during the call. 15 companies
are expected to benefit under this round of funding, under which a total of
€750,000 is available. This will bring to 60 the number of early stage
projects approved in 2012 under the Competitive Start Fund. The closing date
for applicants is Wednesday 10th October and this call is open to start-ups
from both ICT and Industrial sectors including sub-sectors such as Internet,
Games, Apps, Mobile, SaaS, Cloud Computing, Enterprise Software,
Life sciences, Cleantech and Industrial Products.
Making the announcement Bruton said: “A key part of the Government’s plans for jobs and growth is
creating a powerful engine of indigenous enterprise. While multinational
investment in Ireland is and will remain crucial, it is vital that we find
ways of enabling our indigenous firms to perform better and take full
advantage of export opportunities. As I have said before, our industrial
policy must not just be aimed at attracting the next Google or Microsoft to
Ireland – we must strive to create the next Google or Microsoft here in
“For Ireland’s dynamic and innovative community of
entrepreneurs, access to early stage funding is vital. Enterprise Ireland’s
Competitive Start Fund is part of a suite of finance measures aimed at
making it easier for these entrepreneurs to get into business, expand,
export and create the jobs we need. This year we have developed a series of
new finance instruments, including the Micro Finance Scheme and the Loan
Guarantee Scheme which will go live shortly. The continuing strong response
to these measures is enormously encouraging, and I commend all involved and
wish these entrepreneurs every success in their ventures”.
Commenting on the announcement, Tom Cusack, Enterprise
Ireland manager, communications and digital content, high potential start
division, said: “We see this fund as a strategic investment in these young
companies. They represent some of Ireland’s newest and most exciting
entrepreneurs and this fund gives a vital injection of funding and support
when they most need it.”
It's delusional to believe that an equivalent of Google or Microsoft
could develop in Ireland.
There is more than a detail of no significant home market and what is likely
to happen a startup with potential before it could scale up? It would likely
be snapped up by a bigger US firm.