Dublin Based Software Companies Receive Grant
A selection of Dublin internet gaming & software companies will receive an enterprise grant to assist expansion.
‘Internet and Games Competitive Start Fund’ to help start-ups in their online gaming market.
Enterprise Ireland have created a new fund to aid internet gaming companies during their start-up phases to help make them more competitive in what is already a saturated market.
The six Dublin based small enterprises given funding under the Enterprise Ireland Internet and Games Competitive Fund are:
• Redwind Software Providers - Game engines for mobile trivia games
• ByteSurgery Ltd (Decisions For Heroes) - Web-based emergency response team management analytics
• Cellplay Networks - Social gaming
• Jlizard Ltd - UCD spin out. Cloud-based service for managing log data
• Plendi Ltd - Automating receipt processing
• Calom Technologies - Software for telecommunications companies to expose their TV & Video products as web services
120 small enterprises applied for the grant from all over Ireland and it was awarded to 10 different companies. Six of these new enterprises are Dublin based firms. On Friday March 25th, the new Minister for Jobs, Enterprise and Innovation, Mr. Richard Bruton TD announced the successful candidates that have been awarded the grant. ‘The creativity of young Irish entrepreneurs will drive our recovery. As a government we are determined to help committed young companies with good ideas to succeed. The funds invested in exciting new companies such as this, will help them to grow in international markets’, the minister said.
The enterprise products range from games and game engines to consumer services and telecommunications, proving the sectors growth in Ireland. They are all rising stars and have potential to grow their international presence with the receipt of this grant. Each of the ten companies will receive an equity investment of €50,000 for a 10% ordinary equity stake. They will also receive guidance and support from an experienced business mentor.
With the success and popularity of the first fund offered, Enterprise Ireland is now expanding it’s offer and a second fund – the Competitive Start Fund, is also open to enterprises in the software and gaming, cloud computing and telecoms sectors.
‘The government is fully committed to providing funding for start ups and in a manner that meets their needs’, Minister Bruton said. ‘We know that very early stage companies can face difficulties in raising external financing, and we are determined to help them bridge this gap by providing greater support’, he added.
Frank Ryan, the CEO of Enterprise Ireland said that: ‘ This new fund is getting critical early stage finance to some of Ireland’s newest and most exciting internet and games entrepreneurs to help them validate their market and successfully grow their business. With our Software Strategy, we wish to further stimulate the emergence of internet based companies in Ireland and to assist them in broadening their international base and scale and presence.’
-photo curteousy of The Department of the Department of Trade, Enterprise & Innovation