AIB primed for seed funding

ALLIED Irish Bank is anticipating a record year of seed funding investment in 2012 and expects to support the creation of at least 20 new high-performing, innovative businesses in the coming year.

Investment in 2011 supported 130 high-value jobs with the same number of jobs targeted in 2012. AIB facilitates the provision of such finance through two dedicated Seed Capital Funds, which have a total €75 million available for investment, making AIB the largest provider of seed capital funding in Ireland.

The funds are two of four specialist Seed Capital Funds, totalling €124m, formed with Government support as part of the bank recapitalisation mandate.