Competitive Fund

The Competitive Start Fund is targeted at start up and early stage companies in the ICT and Industrial sectors

The Fund will provide these young companies (at post feasibility stage) with the critical early stage funding to achieve the key commercial and technical milestones that will ensure delivery of their product or service and/or will get their project to a key funding milestone.         

Eligibility
The Competitive Start Fund is open to:
•    Companies who are active in the ICT & Industrial sectors to include the following sub-sectors: Internet, Games, SaaS, Cloud Computing, Enterprise Software, Telecoms, Lifesciences, Cleantech and Industrial Products.
•    Individuals who will register a company prior to Enterprise Ireland’s investment, which will be active in these sectors.

In addition, applicants must fulfil all of the following criteria:
•    Must be a manufacturing or an internationally traded services business.
•    Must not have received equity funding of €100K or more prior to the competition closing date
•    Must be pre-trading or recently commenced trading, i.e. has revenues less than €60k in the last full financial year.
•    Must be capable of creating 10 jobs in Ireland and realising sales of €1m within 3 to 4 years of starting up or, where a company is required to have FDA or CE approval, within three years of approval to sell.
•    Must not be involved in activities that fall within gambling or “gaming” as defined in the Gaming & Lotteries Act 1956.

What is the maximum funding available?
The selected companies will receive a maximum investment of €50,000 for a 10% ordinary equity stake in the start-up company.  The investment shall be released in two equal tranches.  The Company will be required to secure additional equity investment of €5,000, from promoters or external investees, prior to the release of EI’s first tranche.

What is the call close date?
The CSF will open today January 26th and the call for applications will close on February 9th, at 6pm.  

How do companies apply?
Applications are made through the Enterprise Ireland online application system.

For more information:
•    Log on to www.enterprise-ireland.com/csf
•    Email csf@enterprise-ireland.com
•    Ring the dedicated Help Line 01 727 2202

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