Public Consultation on the Future Focus of the Seed and Venture Capital Scheme 2013-2018
Closing 30th May 2014.
The Government, through Enterprise Ireland, has made €175m available as part of the Seed & Venture Capital Scheme (2013 – 2018) to stimulate job creation and support the funding requirements of young innovative Irish companies. This Scheme will allow the State to commit funding, through a number of competitive calls, to Venture Capital funds that best meet the Scheme objectives.
Under the first call of the new Scheme, Enterprise Ireland has committed up to €99.5m to commercially focused Venture Capital funds in the wider Technology and Life Sciences sectors.
Enterprise Ireland will be committing the balance of the capital available under the Scheme to venture capital funds under the criteria laid out in Section 3 to meet the overall objectives of the fund.
The purpose of this consultation is to invite interested parties to submit written views, observations, or suggestions to help inform Enterprise Ireland in identifying the sectors and company stages of development that should be targeted under future competitive calls for expressions of interest under the Seed and Venture Capital Scheme (2013-2018).
Enterprise Ireland is open to hearing all ideas. To facilitate the analysis of submissions and to ensure alignment with the objectives of the Scheme, it is requested that interested parties particularly consider the following questions:
- What sectors should be considered as priorities under future competitive calls for expressions of interest under the Seed and Venture Capital Scheme 2013-2018?
- What stages of company development including seed, early, growth and expansion stages should be considered for priority focus under future competitive calls for expressions of interest under the Seed and Venture Capital Scheme 2013-2018?
- What sectors require a continued supply of venture capital where Enterprise Ireland investment has the potential to leverage further private investment in the sector?
- What sectors through the increased availability of venture capital have the potential to support the greatest job creation and export potential?
The overall vision of Seed & Venture Capital Scheme (2013-2018) is to increase the availability of risk capital for SMEs to support economic growth through the continued development of the Seed and Venture Capital Sector in Ireland to achieve a more robust, commercially viable and sustainable sector.
To realise this vision, the objectives are to;
- Encourage and leverage private sector investments into sectors (and stages of development) that find it difficult to secure appropriate growth funding.
- Leverage domestic and international private sector/institutional capital into VC investment in Ireland.
- Support the growth strategies of Enterprise Ireland’s sectors with capital and expertise.
- Maximise the ‘additionality’ that any commitment will bring to the overall sector in terms of additional capital and expertise in company development.
- Seek innovative funding solutions that reflect current international best practice.
How to submit your views
Respondents are requested to make submissions in writing and, where possible, by email. With regard to the latter, respondents are requested to ensure that electronic submissions are furnished in an unprotected format.
Submissions are requested by 30th May, 2014:
- by email to: firstname.lastname@example.org
- by post to:
Mr Cian Daly
Banking Relationships & Growth Capital Department
Eastpoint Business Park
Confidentiality of Submissions
Contributors are requested to note that it is Enterprise Ireland’s policy to treat all submissions received as being in the public domain unless confidentiality is specifically requested. Respondents are, therefore, requested to clearly identify material they consider to be confidential and to place same in a separate annex to their response, labelled “confidential”. Where responses are submitted by email, and those emails include automatically generated notices stating that the content of same should be treated as confidential, contributors should clarify in the body of their emails as to whether their comments are to be treated as confidential.