There is huge focus on Irish entrepreneurs at the moment, with over 170 different Irish government small business’ and startup grants. This guide will help highlight for you the most relevant grants for you business.
Enterprise Ireland
In recent years there have been two extra stages added onto their Competitive Start Fund (CSF). If your application for this fund is accepted, there is a total of €1.5m up for grabs. The application process is to submit a written proposal and a video pitch. Outside of Dublin, there is a €1m Regional Entrepreneurship Scheme. Under this scheme, a maximum of 30 successful applicants will receive support with business development and an investment of up to €50,000 each. Here are some tips when applying for the Competitive Start Fund:
- Use facts and statistics, when making statements make sure you back them with evidence
- Be well informed on your business model. Be able to easily speak about your ideas and plans
- Include relevant information and details. For example, If you are selling a product, include packaging specifications or include a links to your website and/or social media pages
New Frontiers
New Frontiers is a national program. Although Enterprise Ireland fund and manage it, New Frontiers is more concerned with assisting in the progression of business’ in the earlier stages (eg. 0 – 6 months). It focuses on helping business’ grow from a concept to an investable business. Important points during marking process:
- Business experience.
- Track Record and credibility
- A suitable business background that will assist with the development of a business and will give a sustainable and competitive edge
- Having the necessary management and technical skills
- Quality of business idea
- Determination, drive and commitment to idea
International Startup Grants
There is a €10m fund that is provided by Enterprise Ireland to encourage entrepreneurs to relocate and establish their startups in Ireland. In order to avail of the fund, you must:
- Your startup business must be capable of creating at least 10 jobs in Ireland
- You must be able to achieve €1 million in sales within 3-4 years of startup
- Your idea must be led by an experienced management team who are legally entitled to reside and trade in Ireland
- Your business must be in the process of introducing a new and innovative product or service onto the market
Startup competitions in Ireland
Ireland’s Best Young Entrepreneur (IBYE) Competition is available to any entrepreneur aged 30 or under with a business idea or an existing business. The competition is available to all sectors. Initially the competition begins at County level with a prize of €50,000 available to the three different category winners. The three categories are
- The Best Business Idea
- Best startup Business
- Best Established Business
Ireland provides lots of assistance to entrepreneurs wanting to begin their startup and provides assistance for those willing to relocate in Ireland. Feel free to call us anytime to discuss your business startup.