A new Competitive Feasibility Fund has been opened to support start up activity in the Mid-West region.
Successful applicants in Clare, Kerry, Limerick and Tipperary could earn up to €25,000 in the Enterprise Ireland scheme which is aimed at stimulating innovative start-ups and creating jobs and growth in the Mid-West.
The purpose of the Competitive Feasibility Fund is to enable promoters to assess the viability and market potential of their business ideas. Enterprise Ireland is seeking to support business ideas that are likely to achieve significant growth within three to four years, with sales of €1m per annum and employment of 10 or more people.
The fund is open to applications from individuals, early stage companies or prospective businesses involved in manufacturing and internationally traded services, including sectors such as; internet, games, apps, cloud computing, enterprise software, lifesciences, food, beverages, consumer products, industrial products, engineering, medical devices and e-Health.
Minister of State for Employment and Small Business, Pat Breen TD said: “This Competitive Feasibility Fund offers individuals and businesses in the Mid-West region the opportunity to properly and thoroughly assess the value of their business ideas. Feasibility studies at an early stage allow you to explore the viability of your plans, identify the pathway to success and kick-start that journey to job creation and growth. As start-up companies now account for over two-thirds of all new jobs created in Ireland”.
Jerry Moloney, Regional Director, Enterprise Ireland added: “A priority for Enterprise Ireland is to help Irish entrepreneurs and companies to start up and grow. Successful applicants will be awarded funding to support feasibility studies including market research, cost analysis, financial projections and prototyping. With this Competitive Feasibility Fund, we aim to support the next generation of ambitious Irish businesses that can grow to compete in global markets, creating valuable jobs in the Mid-West in the future”.
The fund closes for applications at 3pm, Tuesday 8th November 2016. For more information and to apply on-line, go to www.enterprise-ireland.com/cffmidwest