The government has launched a new €10m funding initiative to support startup businesses across the country.

Under the initiative, the 31 Local Enterprise Offices and other public, private and community organisations can bid for funding to create new collaborative projects that boost job creation.

The initiative comprises two funds, which go live today (May 15), with a closing date of July 10:

1. A €5m LEO fund, covering the period 2015-2017, open to groups of Local Enterprise Offices who come together to bid for funding for projects to support job-creation initiatives in their areas. The funding will be awarded on a competitive basis to the projects with the greatest capacity to create jobs.

2. A €5m Enterprise Ireland Community Enterprise Initiatives fund, open to groups and organisations in every county of the country who come together with ideas for projects to create jobs.

In Association with

The fund will be awarded on a competitive basis to the projects with the greatest capacity to create jobs.

Examples include hiring skilled people who could assist with mentoring businesses, or investing in hubs and co-working space where businesses could work in their early days.