Ten IT companies get €50k boost

AN equity investment of €50,000 has been awarded to 10 companies under Enterprise Ireland’s internet and games competitive start fund.

Drawn from over 120 applicants, the companies, ranging from game engines to consumer services and telecommunications, were selected for their potential to trade business internationally. Each company will receive an equity investment of €50,000 for a 10% ordinary equity stake, along with the support of an experienced business mentor.

Enterprise Ireland chief executive Frank Ryan said the fund is a strategic investment in Ireland’s internet and games industry: “Under our software strategy, we want to further stimulate the emergence of internet-based companies in Ireland and to broaden their international base and scale.