New €10m fund to support Irish start-ups announced

A new €10 million fund to support start-ups across the country has been announced by the Government.

Half of the funds announced on Friday are to be allocated to Local Enterprise Offices around the country who come together to bid for funding for projects to support job creation in their region. Applicants can apply for a maximum of €250,000 per project.

The remaining funds will go to the Community Enterprise Initiatives fund, which is also open to organisations that come up with ideas for projects to create more jobs.

The new initiative forms part of the Government’s €250 million Regional Action Plan for Jobs.

It follows on from the rolling-out of a tax refund programme on Thursday aimed at encouraging more people to start up their own business.

The StartUP Refunds for Entrepreneurs (SURE) initiative allows individuals to obtain a refund from the Government of up to 41 per cent of the capital they invest in establishing their own company over a six-year period.