Enterprise Ireland announces new funding for early-stage start-ups

Enterprise Ireland has launched a new stream of funding to support early-stage start-up companies.

It said the new funding is designed with high-growth early-stage start-up companies and entrepreneurs in the manufacturing and internationally traded services sectors in mind.

According to Enterprise Ireland, the additional funding is being rolled out following consultation with entrepreneurs and stakeholders in Ireland's start-up community.

"Securing private sector investment for very early-stage companies has always been challenging and Enterprise Ireland plays a critical role in bridging this gap when cash is required for activities including product development, recruitment into the team and developing channels to market," said Leo Clancy, Enterprise Ireland's CEO.

"In designing the new Pre-Seed Start Fund we have listened carefully to the start-up community and the wider start-up ecosystem about the needs of new businesses, resulting in a new, enhanced offer for early-stage entrepreneurs," he added.

Enterprise Ireland said a number of 'PreSeed Start Fund' application-support workshops will be held online by the national Business Innovation Centres (BICs) over the coming weeks.

Details of these workshops as well as the relevant application forms and eligibility criteria can be accessed on the Enterprise Ireland website.

"Applications received will be reviewed and assessed by considering the objective of the offer, required criteria, the stage of development of the start-up and assessment of the potential of the business," Enterprise Ireland said in a statement.

Reporting: RTE News