€26 Million Fund Launched for Irish Small Businesses

Discussion in 'Growing and Managing a Business' started by Fergal, Nov 9, 2009.

  1. Fergal

    Fergal
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    The €26 Million Bank of Ireland Seed and Early Stage Equity Fund was launched today. It will invest in start-up and early stage companies and be of particular interest to export orientated high potential start-up companies that operate in the technology (including green technology), food and financial services sectors. The fund will also support patent and patent pending projects within Irish universities.

    Anyone interested in availing of this fund should contact;

    Eileen Banks, Press Officer, Enterprise Ireland: Tel: +353 (0)1 7272805/ 087 2445814
    E-mail: [email protected]

    Anne Mathews, Media Relations Manager, Bank of Ireland Group Communications Tel: + 353 (0)1 604 3836 / 087 246 0358
    E-mail: [email protected]

    Click here for further information on the €26m Bank of Ireland Seed and Early Stage Equity Fund.
     
  2. sbfc

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    Sounds like a potentially good thing for new businesses though I do think a lot of businesses wil probably miss out on investment.
     
  3. Fergal

    Fergal
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    Why do you say that?
     
  4. madringo

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    It's desperately needed. Too many IT start-ups have fled Ireland for US shores in desperation for much needed investment, as they found it that to get the business off the ground as self-financing just wasn't enough.

    Ireland could potentially have a massive indigenous technology industry if the investment was there. 99% of technology 'bought' in Ireland is imported, despite the fact that if you buy a computer from Dell, it is likely that it was manufactured in Ireland, but because the company is American that computer is an import, and thus leaves the Import-Export ratio greatly effected.
     
  5. Fergal

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    I agree, not so long ago Ireland led the way in telecoms infrastructure and in the software industry. Unfortunately, as a country, we appear to have lost our standing and position in recent years. Many countries have overtaken us with their broadband infrastructure and we have lost high end IT and programming jobs to the East.

    Ireland needs to be good at this type of stuff, in order to ensure our economic success and indeed survival. Investment is required in the areas of emerging business support and in education. The money involved would not need to be huge, if it was spent correctly.
     

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