250 new jobs for Limerick

Up to 250 new jobs are to be created in the Limerick area with the announcement of two investment funds.

Irish Technology Capital - a US-based venture capital fund - is to locate its European headquarters in Limerick City.

The firm - set up by members of the Irish diaspora - will provide funding and opportunities for emerging companies in the IT sector.

Earlier, Limerick Institute of Technology announced the creation of a second fund to support start-ups in the Mid-West region.

The €1m ‘Enterprise Ladder Fund’ will give companies between €10,000 and €25,000.

LIT estimates that 250 jobs have already been created as part of its various enterprise programmes over the past two years.