State investing €500,000 to attract foreign firms

Government hoping to persuade entrepreneurs outside Ireland to set up businesses here

Minister for Jobs and Enterprise Richard Bruton: Competitive Start Fund is targeting internationally focused companies. Photograph: Dara Mac Donaill

Minister for Jobs and Enterprise Richard Bruton: Competitive Start Fund is targeting internationally focused companies. Photograph: Dara Mac Donaill

 

The Government is investing €500,000 in efforts to persuade entrepreneurs outside Ireland to set up their businesses here.

The Competitive Start Fund is targeting internationally-focused companies in either manufacturing or traded services. The fund is part of Enterprise Ireland’s strategy to increase the number and quality of High Potential Start-Up companies – those with the potential to employ more than 10 people and secure €1 million in export sales within three years.

Applicants will need to register their start-up as an Irish company prior to any investment being made by Enterprise Ireland. They must also agree to base the majority of their management team and/or promoters in the State for at least the first year after the Enterprise Ireland investment is made.