Cash prize for solid business plans

A VENTURE capital prize fund offering €280,000 to budding entrepreneurs with solid business ideas was launched yesterday in Limerick.

Donncha Hughes of Limerick Institute of Technology, one of the colleges participating in the competition said: “Access to finance is a critical issue for early-stage entrepreneurs to fund investment in the company for development and growth. Our mentoring and business planning service will identify the options open to the new business.”

These will include applications for feasibility funding to enterprise boards and Enterprise Ireland; Business Angel Investors; business expansion schemes, venture capital, loans, savings and applications for seed capital relief.