Minister Bruton unveils Ireland’s latest crop of software start-ups
The Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, today (Monday, 17th of October 2011) announced the 15 successful companies that have been awarded funding under Enterprise Ireland’s Competitive Start Fund for software start ups. The fund is aimed at getting critical financial support into very early stage companies to explore the market fit for their services and move swiftly to market launch.
Over the past 10 months Enterprise Ireland has launched four such Competitive Start Funds for young innovative start ups across various sectors. The deadline for applications to the current Competitive Start Fund is next Wednesday 19 October. It is open to start-ups from the ICT & Industrial sectors including sub-sectors such as Internet, Games, SaaS, Cloud Computing, Enterprise Software, Telecoms, Lifesciences, Cleantech and Industrial Products.
Congratulating the companies when he met them to discuss their plans Minister Bruton commented:
“If we are to get out of this crisis, we must work hard to create an indigenous engine of growth. While multinational investment in Ireland is and will remain crucial, it is vital that we find ways of enabling our indigenous firms to perform better and take full advantage of export opportunities. As I have said before, our industrial policy must not just be aimed at attracting the next Google or Microsoft to Ireland – we must strive to create the next Google or Microsoft here in Ireland.
“Enterprise Ireland’s Competitive Start Up Fund is one of the instruments that government uses to encourage and support indigenous companies in innovative and exporting sectors. This crop of 15 companies includes some very exciting ICT start-ups, and I hope that with government support they can expand, create jobs, and contribute to our recovery”.
Commenting on the announcement, Tom Cusack, Enterprise Ireland Manager High Potential Start Ups said: ‘We see this fund as a strategic investment in these young companies. It gives a vital injection of funding and support to these promoters when they most need it’.
Under the terms of the Competitive Start Fund, start ups will receive an equity investment of up to €50,000 for a 10% ordinary equity stake. In addition to funding, each start up will be provided with an experienced business mentor to support them. The application process has been designed and improved to be fast and efficient to allow the new start ups to concentrate on validating their business concept and getting to market entry stage as quickly as possible’.
For further information contact:
Head of Communications,
+353 1 7272904
Department of Enterprise,
Trade and Employment
+353 (0) 1 631 2222
+353 (0) 87 2594144
Note for Editors:
Details of the 15 companies awarded funding under the Enterprise Ireland Internet and Games Competitive Fund are:
|OneLook Systems||Cork||Software solution to protect people and assets|
|Learnpipe||Cork||Enhanced course search site.|
|Fluid Software Ltd||Dublin||Software to develop mobile app prototypes|
|Footbridge Learning Ltd.||Limerick||Online game for children with reading difficulties|
|R&D Slua Limited||Cork||supply.ie is an online quotation system|
|Picturk||Dublin||Internet platform for digital photographic competitions|
|FeePay Ltd. t/a Easy Payments Plus||Dublin||Web based payment solutions|
|Pulse Technology t/a Rate Wise||Dublin||IT system to support hotels to sell more rooms|
|Open Emotion Studios Ltd.||Limerick||Games company|
|Artemis Business Solutions||Kerry||Software company to support travel companies to generate more revenue|
|Vending Box||Dublin||Supports online retailers extend their social reach|
|Good Travel Software||Dublin||Providers of booking software for the car rental and car share industries. |
|Dingadeal.com||Kerry||Reverse auction hotel booking platform|
|DudleyMont||Limerick||Online platform for meeting organisers|
|Cauwill Technologies||Limerick||Software to add value for Directory Enquiries services|