***Important Notice***

The last call closed on 14th June 2011. The next call for proposals will be a general call and it will open in late September with a closing date of mid October. Check back here in late September for further details.

Overview of the Competitive Start Fund

The Competitive Start Fund for Life sciences, Cleantech and Industrial companies is targeted at helping start up and early stage companies at post feasibility stage to get off the ground and launch new products and services in international marketplaces

Eligibility

The Competitive Start Fund is open to:

• Companies who are active in the Life sciences, Cleantech and Industrial sectors
• Individuals who, prior to Enterprise Ireland’s investment, will register a company that will be active in these sectors.

In addition, applicants must fulfil all of the following criteria:

• Is a manufacturing activity or an internationally traded service as defined in the Services Order 2010.
• Must not have received equity funding of €100K or more.
• Is pre-trading or recently commenced trading, i.e. had revenues less than €60k the last full financial year.
• Must be capable of creating 10 jobs in Ireland and realising sales of €1m within 3 to 4 years of starting up, or, where a company is required to have FDA or CE approval, within three years of approval to sell.

What is the maximum funding available?

The selected companies will receive a maximum investment of €50,000 for a 10% ordinary equity stake in the start-up company. The investment shall be released in two equal tranches.

The Company will be required to secure additional equity investment of €5,000, from promoters or external investees, prior to the release of EI’s first tranche.

What is the call close date?

The CSF will open on May 26th and the call for applications will close on the 14th June 2011, at 6pm.

How do companies apply?

Applications are made through the Enterprise Ireland online application system

For more information:

Web: http://www.enterprise-ireland.com/en/funding-supports/Company/HPSU-Funding/Competitive-Start-Fund-CSF-.html

Email: csf@enterprise-ireland.com

Phone: +353 1 727 2202 (dedicated Help Line 9am – 5pm)