The Irish Government created a 65 million euros fund aimed at seeding high growth companies that could be leveraged and co-invested by venture capital companies. The seed funding will be targeted at high growth areas such like food software, fintech, ICT, clean tech and life sciences.
“Around 75% of all new jobs in the Irish economy are created by startups in their first five years of existence. That is why we have developed a range of new supports for entrepreneurs and startups as part of our jobs plan. New funding instruments are a key part of this, including our drive to create a world-class venture capital industry here. Today’s announcement that a further €65m of funding from Enterprise Ireland is being made available to leverage several multiples of that in private sector funding and ultimately invest in fast-growing start-ups is an important step in this drive”, stated the Irish Minister for Jobs, Enterprise and Innovation Richard Bruton.