Enterprise Ireland fintech fund targets start-ups
26 May 2016 | 0
Enterprise Ireland has launched the Fintech Competitive Start Fund – a €500,000 initiative to stimulate start-up activity in the fintech sector. The Fund provides up to €50,000 in equity support by Enterprise Ireland for companies working in payments, banking, regtech, security, and insurtech and finTech solutions. Specific areas of interest include blockchain, the Internet of Things, artificial intelligence and data intelligence.
The FinTech CSF is part of Enterprise Ireland’s strategy for increasing the number and quality of high potential start-ups (HPSUs) that have the potential to employ more than 10 people and achieve €1 million in export sales within three years.
Successful applicants will also receive membership to Dogpatch Labs located in the heart of the IFSC (in partnership with Ulster Bank) and access to the Ulster Bank Innovation Solutions team. In addition, there will be a number of Masterclasses provided by industry experts from the FinTech and Payments Association of Ireland (FPAI).
Leo McAdams, divisional manager, ICT & international services at Enterprise Ireland, said: “By introducing a specific start-up fund targeting the FinTech sector, Enterprise Ireland is leveraging our strong International Financial Services reputation and our world-class start-up ecosystem to allow ambitious entrepreneurs to start, scale and succeed – providing valuable jobs here into the future”.
The Fund opens for applications on Wednesday 1 June and closes at 3.00pm Wednesday 15 June 2015.