Fine Gael Dún Laoghaire TD, Mary Mitchell O’ Connor, has welcomed the Competitive Start Fund planned for 2012 by Enterprise Ireland, which was launched yesterday by Minister for Enterprise, Jobs and Innovation, Richard Bruton.

“This is a fantastic opportunity for local businesses to acquire critical early funding to test the market for their products and services and progress their business plans for the global market. Under the terms of the Competitive Start Fund, start-ups will receive an equity investment of up to €50,000 for a 10% ordinary equity stake.

“I believe the funding provided by Enterprise Ireland under this scheme will nurture and develop potential and fledgling business plans into profit turning companies capable of supplying much needed secure employment. I strongly encourage all entrepreneurs in sectors that are covered by this round of funding to make an application.

“The closing date for applications is the 9th of February and applications are welcome from start-ups in both the ICT and Industrial sectors including sub-sectors such as internet, gaming, cloud computing, enterprise software, telecoms, life-sciences and cleantech.

“In addition to funding, each start-up will be provided with an experienced business mentor to support them. The application process has been designed to be fast and efficient to allow the new start-ups to concentrate on validating their business concept and getting to market entry stage as quickly as possible.

“I believe the Competitive Start Fund can be a major boost to start-up businesses and I look forward to jobs being created in Dun Laoghaire-Rathdown as a result.” –