Enterprise Ireland, an Irish government agency that supports Irish businesses, has announced that it will be accepting applications from foreign startups with focus on gaming, apps, mobile, software as a service (SaaS), cloud computing and fintech through its Competitive Start Fund initiative.
Disrupt Africa reports that the agency will provide 10 successful startups with the opportunity to scale their businesses in the European country and will each receive EUR50,000 in funding to cover business development, mentorship and also travel expenses.
“The purpose of the Competitive Start Fund is to accelerate the growth of start-up companies that have the capability to succeed in global markets. The fund is designed to enable those companies reach key commercial and technical milestones,” Enterprise Ireland said.
The startups will each have to part with 10% equity for the deal.
Successful applicants are expected to register their businesses, become domiciled in Ireland and also have a fundamental portion of their assets and management team in Ireland, with the team also agreeing to stay in the European country for at least a year after investment.
Applications for overseas startups will be open from August 26 to September 9.
The French government also have a similar initiative for which application is currently on.
Source: Disrupt Africa