Ireland announces €1 million start-up funds for Overseas Entrepreneurs
Posted on August 25, 2018
Ireland has announced €1 million start-up funds for Overseas Entrepreneurs and experienced business professionals. This will be in the form of 2 CSFs – Competitive Start Funds. Maximum 10 successful applicants in the individual fund will be offered equity funding of maximum €50,000. The overseas fund is for those overseas start-ups that are ready to relocate to Ireland.
Enterprise Ireland said that the second fund is for business professionals. This is for those who possess 25 years or plus appropriate business experience overseas or in Ireland. Successful applicants of this fund will also get the chance to participate in a 3-month program for business development. This is by the DCU Ryan Academy, as quoted by the News Talk.
Competitive Start Fund of Enterprise Ireland is an initiative to enhance the quality and numbers of Ireland’s High Potential Start-Up Companies. HPSUs refer to firms that have the potential to employ 10 plus people. They also have the potential of achieving export sales of €1 million within 3 years.
Heather Humphreys Minister for Business, Enterprise, and Innovation in Ireland said that the nation is a start-up activity hub. We aim to attract talented Overseas Entrepreneurs to Ireland, she added. The aim is to encourage the development of business ideas, said the Minister. The target of CSF is highly skilled and mature professionals. It is crucial for the development of the start-up system in Ireland, elaborated Ms. Humphreys.
Enterprise Ireland HPSU Start Manager Sarita Johnston said that the start-up ecosystem in the nation is rich in talent community. Nevertheless, crucial numbers of Overseas Entrepreneurs are keen to relocate to Ireland, she added.
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