Enterprise Ireland has launched a new competitive feasibility fund aimed at stimulating growth for the agri-business sector. The €200,000 fund will be distributed in slices of up to €25,000 per initiative.

Enterprise Ireland said that is looking for business ideas that are likely to achieve significant growth within three to four years, with sales of €1m-plus per annum and employment of 10 or more.

The fund is open to applications from individuals, early-stage companies or prospective businesses operating in the agri-business sector, covering a wide range of sub-sectors. Early-stage food companies with the potential to export are also encouraged to apply.

Applications will be taken from entrepreneurs and early stage startups from August 23 and will close on September 6 this year.

Launching the fund, jobs minister Mary Mitchell O’Connor said: “Competitive feasibility funds are all about developing new businesses that will create jobs in every region in Ireland. If you are a potential entrepreneur or early stage business in the agri-business sector, this fund can help you get started.”

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Denis Duggan, CFF programme manager with Enterprise Ireland, added: “Agri-businesses sustain and create jobs in many rural areas and are significant contributors to their local economies.

“Irish agricultural machinery exports alone are valued in excess of €100m per annum. With this fund, we aim to support the next generation of Irish agri-businesses that can grow to compete in export markets, creating valuable jobs here into the future.”

Full details of the fund, including the application form, are available here.