Enterprise Ireland launches $820,000 fund
Posted on 02 May, 2017 by Thierry Heles, editor
The agency will open applications for its Competitive Start Fund for Female Entrepreneurs tomorrow, with up to $55,000 in equity funding available for up to 15 applicants.
Irish state-owned export credit agency Enterprise Ireland is set to open applications for its €750,000 ($820,000) Competitive Start Fund (CSF) for Female Entrepreneurs tomorrow, with up to €50,000 for a maximum of 15 successful applicants.
The fund will focus on early-stage startups led by women. It will seek to identify companies that have the potential to employ more than 10 staff and drive €1m in export sales within three years.
Ten successful applicants will also receive the opportunity to participated in the Innovate accelerator program, organised by Dublin BIC. The 12-week program, delivered in the Guiness Enterprise Centre, will help teams advance to an investor-ready stage.
The fund follows the statistic that showed 34% of companies that secured capital through Enterprise Ireland’s Competitive Start Fund initiative last year were led by women.
Submissions for the fund will close on May 17.
Sarita Johnston, female entrepreneurship manager at Enterprise Ireland, said: “Working with ambitious startups led by women is a key focus for Enterprise Ireland and the purpose of the CSF is to accelerate the growth of startup companies that have the capability to become High Potential Start-Up (HPSU) companies.
“We have seen a major leap in female-led early-stage companies since the commencement of our initiatives in 2012 – from 7% of HPSUs to 20% in 2016.
“Enterprise Ireland is delighted to partner with Dublin BIC on their Innovate program this year. It is a unique opportunity for ambitious female founders to receive investment from Enterprise Ireland and to participate, in parallel, on the Innovate program to get their businesses investor-ready.”
See more from this Government Report: Ireland
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