€250k fund to boost number of female-led export firms

A €250,000 fund aimed at boosting the number of export-orientated firms which are run by female entrepreneurs has been set up by Enterprise Ireland.

The Competitive Feasibility Fund is also aimed at increasing the amount of Enterprise Ireland high potential start-ups led by women. The fund — which is aimed at early-stage firms and helps them to gauge if there exists a viable market for their products — will range from €12,000 to €25,000 per company, depending on their needs. The window for applicants is open now and will remain so until Sept 10.

It will be followed, in October, by the launch of another EI fund — a Competitive Start Fund — again for female-fronted firms. This fund will offer €50,000 to more established companies in need of funding to push them on to the next stage of their growth.

The launch of these funds follow a similar programme of funding last year, which saw EI invest €850,000 into female-fronted SMEs, a development of which Jobs, Enterprise and Innovation Minister Richard Bruton said yesterday, represents a key part of the Government’s current Action Plan for Jobs.

“A key part of the Government’s plan for jobs and growth is encouraging more businesses to start-up, grow, and create jobs.

“Making sure that we have a substantial increase in the number of female-led start-ups is part of that strategy,” he said.

Last year’s funds attracted more than 200 applications and resulted in an additional 30 female-led companies receiving necessary funding for export-related matters.

Julie Sinnamon, Enterprise Ireland’s executive director of global business development, added: “The development of high-potential start-up businesses is core to Enterprise Ireland’s role in developing sustainable export-oriented companies.

“We see this new fund as a strategic investment in female-led start-ups.

“It will support them to expand their business horizons and set up innovative international companies that can win business abroad and create jobs at home.”