€17m jobs fund announced

A €17m fund is being launched to encourage new firms to create jobs.

The Bank of Ireland start-up and emerging sectors equity fund will help entrepreneurs to turn ideas into new products and services for export markets.

The fund will be managed by Delta Partners on behalf of Bank of Ireland and the Government’s job creation agency, Enterprise Ireland.

Minister for Enterprise, Trade and Innovation Batt O'Keeffe says the fund will support early stage entrepreneurs in driving export-led growth and creating new high-quality jobs.

The move follows the Taoiseach's announcement in July of Innovation Fund Ireland - a €500m fund aimed at drawing top venture capitalists to Ireland.

This is the second fund launched by Bank of Ireland and Enterprise Ireland for start-up and early-stage growth firms and it is the 10th new fund supported by the Government through Enterprise Ireland’s Seed and Venture Capital Programme 2007-2012.

"Our banks have a key role to play in economic recovery and initiatives such as this one will allow innovative firms to leverage new capital in scaling their businesses and creating jobs at home," the Minister said.