ENTERPRISE IRELAND HAS launched a new half-million euro fund to try and encourage graduates to start-up their own business.

The EI Competitive Start Fund was launched by jobs minister Richard Bruton today.

The fund will provide up to €50,000 for each successful applicant, and will open for applications on Wednesday 9 July.

Minister Bruton said the fund would address a short fall in the start-up space.

“We have great entrpreneurs and start-up businesses – we just don’t have enough of them. That is why we have specifically targeted, as part of our action plan for jobs, and improved performance in this area.”

The fund we are announcing today…is aimed at encouraging more graduates to consider entrepreneurship as a career choice. I urge any graduate with a good business idea to get involved.

Applications are being sought from the manufacturing and internationally traded services sector for businesses involved in internet, games, apps, mobile, SaaS (software as a service), cloud computing, enterprise software, life sciences, food, cleantech or industrial products.

EI’s head of scaling and high potential start-ups Lisa Vaughan said: “This fund is the first of its type for graduates and will provide a package of financial and developmental supports.”

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