Enterprise Ireland has launched its latest €500,000 Competitive Start Fund for Female Entrepreneurs to support early stage start-ups. Now in its fifth year, the Enterprise Ireland Fund, which provides €50,000 in equity funding for each successful applicant, is open for submissions and will close at 3pm on Wednesday 23 November 2016.
The purpose of the Competitive Start Fund is to accelerate the growth of female-led start-up companies that have the potential to employ more than 10 people and achieve €1 million in export sales within three years. The fund is designed to enable those companies reach key commercial and technical milestones which will ensure delivery of their product or service to an international audience.
The fund is open to applications from female entrepreneurs or female-led start-ups active in the Manufacturing and Internationally Traded Services sectors.
Orla Battersby, Manager of High Potential Start-Ups, Enterprise Ireland said: “This is a dedicated Competitive Start Fund to encourage more women to start businesses, providing a launch platform for female entrepreneurs in the Manufacturing and Internationally Trade Services sectors. A priority for Enterprise Ireland is to help Irish entrepreneurs with global ambition to start their businesses and the €500,000 Fund will go towards supporting the next generation of female-led start-ups to compete in export markets.”
Yvonne Brady, Founder and CEO, EVB Sports, a previously successful applicant said: “Trying to create a global brand requires a lot of investment. Especially when it’s a new brand entering a very competitive market, you need to secure funding. The Competitive Start Fund allowed EVB Sport to springboard to the next level. Securing the financial support allowed EVB Sport to trade at a global scale. The Competitive Start Fund is not all about the financial backing – we also secured enormous support from Enterprise Ireland in terms of new contacts and doors opening, which otherwise may have stayed closed”.
Full details on the Competitive Start Fund for Female Entrepreneurs, including the application form can be accessed on the Enterprise Ireland website www.enterprise-ireland.com/FemaleCSF
The fund closes for applications at 3pm on Wednesday, 23 November 2016.