€175m fund for high-growth firms

The Government has launched a €175m seed and venture capital scheme that can be drawn down over the next five years and is aimed at high-growth innovative companies.

The initiative was launched by Jobs, Enterprise and Innovation Minister Richard Bruton, who wants a further €525m to come from the private sector in order to create a combined €700m fund.

“While the multinational sector is and will remain crucial to our industrial strategy, I am determined to ensure that we also support the creation of a powerful engine of Irish enterprise that can sustain and create the levels of employment we need,” said Mr Bruton.