Enterprise Ireland funds 15 software start-ups

DEVELOPERS of supports for travel, games, education and hotel bookings are among 15 new firms awarded funding under Enterprise Ireland’s Competitive Start Fund for software start-ups.

Under the terms of the fund, start-ups receive an equity investment of up to €50,000 for a 10% ordinary equity stake. The fund gives critical financial support into early stage companies to explore the market fit for their services and move swiftly to market launch.

Minister for Enterprise Richard Bruton said: “If we are to get out of this crisis, we must work hard to create an indigenous engine of growth. Our industrial policy must not just be aimed at attracting the next Google or Microsoft to Ireland. We must create the next Google or Microsoft here.

“Enterprise Ireland’s Competitive Start Up Fund is one of the instruments that Government uses to encourage and support indigenous companies in innovative and exporting sectors. This crop of 15 companies includes exciting ICT start-ups, and I hope with government support they can expand, create jobs, and contribute to our recovery,” he said.

The companies are: OneLook Systems; Learnpipe; Fluid Software; Footbridge Learning; R&D Slua; Picturk; FeePay; Pulse Technology; Open Emotion Studios; Artemis Business Solutions; Vending Box; Good Travel Software; Dingadeal .com; CrowdScanner; and Cauwill.

Over the past 10 months, Enterprise Ireland has launched four such Competitive Start Funds for young innovative start-ups. Tomorrow is the deadline for applications to the current Competitive Start Fund. It is open to start-ups from the ICT and industrial sectors including internet, games, cloud computing, enterprise software, telecoms, lifesciences, and industrial products.

Enterprise Ireland’s Tom Cusack said: “We see this fund as a strategic investment in these young companies. It gives a vital injection of funding when they most need it.”