Enterprise Ireland allocates $47m to startups

The export credit agency is putting up to $47m in additional capital in seed and early-stage companies, issuing a competitive call for applications to manage the funds.

Enterprise Ireland, the export credit agency of the Irish government, is set to make up to €44m ($47m) in additional funding available to seed and early-stage companies.

The agency has opened a competitive call for fund managers to signal their interest in taking on some of the capital and establishing funds. The money is expected to leverage private sector investments.

Enterprise Ireland is particularly interested in funds that will invest in sectors including software, food, fintech, ICT, services, cleantech and life sciences.

The fund is the third competitive call under the Seed and Venture Capital Scheme (2013-18), a €175m initiative that marks a key action under the government’s Action Plan for Jobs Programme. To date, the scheme has allocated €131m in funding.

Julie Sinnamon, chief executive of Enterprise Ireland, said: “At Enterprise Ireland, we acknowledge the importance of a supportive investor landscape to create and scale businesses across a range of sectors.

“This landscape has been building through our Seed and Venture Capital Schemes over the last 20 years.

“To date, private sector sources have raised over three and half times the funding already secured through Enterprise Ireland under the current Seed & Venture Capital Scheme (2013-18) and this will ensure a healthy supply of investment capital for high potential startup companies. 

“These businesses will contribute significantly to the Irish economy through the creation of high value, sustainable jobs and global export growth.”

See more from this Government Report: Ireland


Copyright Mawsonia Limited 2010. Please don't cut articles from www.globalgovernmentventuring.com or the PDF and redistribute by email or post to the web without written permission.

Most read

  1. STT reinforces Armor with $89m investment

    April 06, 2017

  2. UK to review tax breaks

    April 03, 2017

  3. BDC helps accelerate Calgary startups

    April 13, 2017

  4. Arralis appears on Hong Kong-based consortium’s radar

    April 05, 2017

  5. Tianjin City launches $17.4bn fund

    April 13, 2017


  • 23 May - 24 May, 2017

    GCV Symposium 2017 - London

    Join 400+ business leaders from the corporate venturing and wider high growth business ecosystem for the two-day 2017 GCV Symposium.

  • More Events