Minister Humphreys launches €1 million in start-up funding for overseas entrepreneurs and experienced business professionals

Tuesday August 7th, 2018

The Minister for Business, Enterprise and Innovation, Heather Humphreys TD, today (August 7th) announced two new Competitive Start Funds (CSF) totalling up to €1 million to support overseas entrepreneurs and start-ups led by experienced business professionals.euros_2641760Sml

The funds, which will run simultaneously will be administered by Enterprise Ireland.

Each Fund will provide up to €50,000 in equity funding for up to 10 successful applicants and will open for submissions on Tuesday, 21st August and will close on Tuesday, 4th September.

The CSF for overseas entrepreneurs is a competition specifically for start-ups that are currently based overseas but are willing to relocate to Ireland. As well as securing up to €50k in funding, the successful applicants will have the opportunity to participate in a business development programme delivered over three months by DCU Ryan Academy. The CSF for experienced business professionals is directed at highly experienced business professionals with 25 years or more of relevant business experience in Ireland or abroad, of which at least 10 years should be at a senior or leadership level.

Commenting, Minister Heather Humphreys, T.D., said, “Adequate funding and support for all innovative start-ups with the potential to succeed is a key priority for this Government. My Department through Enterprise Ireland has provided financial and mentor support to female entrepreneurs, graduates and regionally-based start-ups as part of the Competitive Start Fund, in addition to early stage companies in niche sectors such as marine technology, agri-tech and deep tech.

“Ireland is a hub of start-up activity and by attracting talented entrepreneurs to Ireland from overseas and encouraging the development of business ideas by mature, highly-skilled professionals, the CSF is crucial for development of Ireland’s start-up ecosystem.”

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