A new Enterprise Ireland Competitive Start Fund has been launched for the agricultural and manufacturing sectors.

The fund is targeting early stage companies and startups in the agri-business sectors to stimulate startup activity in the industry. Successful applicants will receive up to €50,000 of early stage funding to launch new products in in the international marketplace.

Business and employment Minister Ged Nash said: “New businesses create two-thirds of all new jobs in the economy, and we have made a deliberate decision to support more start-ups in sectors where we have real established strengths. In Ireland we have very strong agricultural and manufacturing sectors. This fund will make a real contribution to supporting more businesses and ultimately more jobs in these important sectors.”

Ged Nash, Business and Employment Minister; Denis Duggan, Enterprise Ireland; Niall Austin, Founder, Moocall at the launch of Competitive Start Fund 

Applications are open to individuals and early stage companies 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.

In Association with

The fund is part of Enterprise Ireland’s strategy for increasing the number of High Potential Start-Up Companies (HPSUs) with the potential to employ more than 10 people and achieve €1m in export sales within three years.

John O’Dea, Enterprise Ireland, said: “This fund is the first of its type specifically targeting the agricultural and manufacturing sectors, and will provide a package of financial and developmental supports for early stage and potential start-ups. Applications will be considered on a competitive basis and the financial support will be in the form of equity investment.”

Applications open Wednesday, September 16 and close on September 30.