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€500,000 for start-up businesses in agriculture and manufacturing

Staff writer |
The Minister for Business and Employment, Ged Nash, launched a new €500,000 Enterprise Ireland Competitive Start Fund to stimulate start-up activity in the agricultural and manufacturing sectors.

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This fund, which provides for up to €50,000 in equity support for each successful applicant, will open for applications on Wednesday, September 16, and closes at 3pm on Wednesday, September 30.

The new Fund – the first of its type targeting the agricultural and manufacturing sectors - will help start-up and early stage companies to get off the ground and launch new products and services in the international marketplace.

The priority is to provide young companies in these sectors with the critical early stage funding for the key commercial and technical milestones that will ensure delivery of their product or service, and help them get their project to a key funding milestone.

The fund is open to applications from individuals, early stage companies or prospective businesses operating in the agri-business sector including; machine design and manufacturing; fabrication, engineering and technical activities; life sciences products with application in the agri-sector; farm related software and related services; vet-pharma, animal health and chemical products.

Early stage food companies with the potential to export are also encouraged to apply.

The new Fund is part of Enterprise Ireland’s strategy for increasing the number and quality of High Potential Start-Up Companies (HPSUs) that have the potential to employ more than 10 persons and achieve €1 million in export sales within 3 years.

Targeting start-ups and early stage companies that have the capability to succeed in global markets, the objective is to stimulate start-up activity in the agricultural and manufacturing sectors, ultimately creating jobs in Ireland.