The Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, recently launched a new €500,000 Enterprise Ireland Competitive Start Fund targeted at stimulating new start-up business activity for graduates. This fund will provide for up to €50,000 in support for each successful applicant. The fund will open for applications on Wednesday 9th July and closes at 3pm on Wednesday 23rd July 2014. Applicants must have graduated with a FETAC NFQ level 8 qualification in the last 3 years.

Young entrepreneurs and third level students are a seed bed for future business start-ups and as such they should be part of Ireland getting back on its feet, and the drive to stimulate more micro and small business activity.

Today’s announcement forms part of a broader strategy, laid out in the Government’s Action Plan for Jobs, aimed at encouraging a higher level of entrepreneurship and start-ups. In recent weeks the Government announced a new county-based competition to find Ireland’s Best Young Entrepreneur, with a total of €2million available to invest in winning businesses.

This €500,000 Competitive Start Fund for graduates will help start up and early stage companies to get off the ground and launch new products and services in the international marketplace. The priority of the Fund is to provide graduates with the critical early stage funding for the key commercial and technical milestones that will ensure delivery of their product or service, and help them get their project to a key funding milestone.

Applications are welcome from Manufacturing & Internationally Traded Services sector to start up businesses involved in activities such as Internet, Games, Apps, Mobile, SaaS, Cloud Computing, Enterprise Software, Lifesciences, Food, Cleantech and Industrial Products.

Full details of the Fund, including the Application Form, are available here.