The Irish Software Association has encouraged the Government to raise the ceiling on monetary funding for start-up companies in the sector.
In its pre-budget submission, the ISA today said the next wave of Irish entrepreneurial companies is being stifled by a lack of funding for start-ups.
ISA recommends that the ceiling on amounts available to companies under the Business Expansion Scheme and Seed Capital Scheme should rise to €2m.
The association also recommended more tax initiatives to encourage R&D in Ireland. R&D expenditure here lags far behind leaders such as Sweden, Finland and the US.