EI – Competitive Start Fund for Overseas Entrepreneurs

26 August 2015

Enterprise Ireland launches a new Competitive Start Fund aimed attracting international start-ups, overseas entrepreneurs and Irish diaspora to locate to Ireland.

€500,000 in new funding to attract international start-ups to locate to Ireland.

Ten companies will each receive an investment of €50,000 for a 10% equity stake. In addition the winning companies will receive a package of other supports including mentor, development programme, etc.

Applications are made online and the twenty best companies will be invited to Ireland to pitch for the ten investments during The Start-up Gathering 2015 in October.

The Competitive Start Fund aims to accelerate the growth of start-up companies that have the capability to succeed in global markets. The fund is designed to enable those companies reach key commercial and technical milestones, for example:
• Build a prototype.
• Secure a reference customer.
• Achieve “product-market fit”
• Secure a Seed Round investment from business angels, Seed Funds, VCs etc.

Applications are considered on a competitive basis. Closing date for completed applications is the 9th September. Further details of the rules and application form are to be found Here.  The website for online applications will open on Wednesday 26th August and close on Wednesday 9th September 2015

Ireland is a hotbed of entrepreneurship and home to some of the world’s leading companies. As a leader in key innovative sectors (including ICT, Life Sciences, Gaming, Financial Services and food & beverages) and a perfect location from which to serve key world markets like the US, Europe and the Middle East, Ireland is the perfect location for your start-up.

Enterprise Ireland is the state industrial development agency for Irish controlled businesses. It supports over 400 start-ups each year and awards Competitive Start Fund to approximately 100 start-ups and makes a Seed Round investment into another 100. In numerical terms, Enterprise Ireland is one of the largest start-up investors in Europe.

The Start-up Gathering 2015 is set to be one of the world’s biggest start-up events. It will take place across Ireland from the 5th to 10th October, with events being planned across 5 days, 5 cities and 5 industries, promoting entrepreneurship, innovation and Ireland’s start-up sector. The Start-up Gathering 2015 is being led by Startup Ireland, a public private partnership dedicated to the goal of making Ireland the best place in the world to create and scale a start-up.