Investment of €50,000 open to international entrepreneurs

Early-stage international startups are being invited to enter a competition to win a potential investment of €50,000.

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Enterprise Ireland’s newly launched Competitive Start Fund (CSF) aims to support entrepreneurs currently based overseas but who are willing to relocate to Ireland to grow their business idea.

The fund is open to early-stage companies in manufacturing and internationally traded services, including the following subsectors: Internet, Games, Apps, Mobile, SaaS, Cloud Computing, Enterprise Software, Lifesciences, Fintech, Food, Cleantech and Industrial Products.

 

The competition will open to applicants on Wednesday 24th August 2016 and will close at 3pm (GMT) on Wednesday 7th September 2016. 

 

Shortlisted projects will be invited to travel to Ireland in November to experience the startup sector and to pitch to the evaluation panel. Pitching will take place on Friday 18th November 2016 in Cork, Ireland. Enterprise Ireland will cover travel and accommodation costs for this event and will facilitate an introduction to Ireland’s thriving startup community.

The winning applicant will be required to move to Ireland.  Enterprise Ireland will assist entrepreneurs who need a visa to live and work here. Successful applicants from outside the EU are eligible to apply for a Startup Entrepreneur Visa, which permits the holder and his/her family to reside and work in Ireland.

 

Click here to read more about Enterprise Ireland and the competition.

 

Eligibility criteria

  • The company/founders must be resident outside Ireland at the time of application.
  • Management team must be based in Ireland for at least one year post investment (e.g. if two persons in the current management, at least one person must move to Ireland).
  • Already has less than €100K funding [excluding sweat equity]
  • Revenues less than €60k any previous year;
  • Less than five years old;
  • Likely to employ 10 in Ireland and sales of €1m within 3 years
  • Software, manufacture or traded services.  Not engaged in gambling, ‘adult entertainment’ or military

 

The Application System Opens on:  Wednesday 24th August 

Closing Date for receipt of applications: Wednesday 7th September @ 3pm

Late applications will not be accepted.

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