Enterprise Ireland bids to woo startups with EUR500,000 fintech fund

Enterprise Ireland bids to woo startups with EUR500,000 fintech fund

Enterprise Ireland has created a EUR500,000 fintech development and support fund in a bid to attract up to ten startups from across the world to set up shop in the country.

Early stage companies selected for the annual programme will receive high-level business development support and an investment of up to €50,000 each through the Irish Government agency's Fintech Competitive Start Fund. CSF.

Joe Healy, divisional manager, high potential start-ups, Enterprise Ireland, says the programme will encourage and support entrepreneurs working across a broad spectrum of innovative banking applications, covering payments, regtech, security and insurtech.

In addition to the upfront cash, the selected companies will also be able to take advantage of a programme of tailored business development support and incubation space in partnership with Bank of Ireland’s innovation team.

David Tighe, head of innovation at Bank of Ireland says: "Our new startlab will incubate these high potential start-ups and alongside desk space also provide access to a full range of tailored business supports including mentorship and support from our dedicated Innovation and Enterprise team.”

In addition to written online applications, companies will be asked to prepare an online video pitch. Successful overseas applicants will be required to move to Ireland.

Enterprise Ireland says it will assist entrepreneurs who need a visa to live and work in Ireland. Applicants from outside the EU will be eligible for a Startup Entrepreneur Visa which permits the holder and his/her family members to reside and work in Ireland.

The deadline for entries is at 3pm on Wednesday 5 July 2017.

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