Female entrepreneurs targeted in new Competitive Start Fund

Enterprise Ireland is set to launch a new €1 million Competitive Start Fund (CSF) providing equity funding up to €50,000 for a maximum of 20 ambitious female entrepreneurs.

The equity funding will be open to all female entrepreneurs overseeing early-stage start-up businesses. In 2017, almost half (46%) of all start-ups receiving CSF funding were led by women.

In fact, over a third of all start-ups to receive funding via the CSF or High-Potential Start-Up programme were managed by female entrepreneurs, compared with just a tenth of start-ups back in 2012.

The CSF seeks to invest in and accelerate the growth of women-led start-ups with the potential to employ over ten people and deliver €1 million in export sales within the next three years.

Rachel James, female entrepreneurship manager, Enterprise Ireland, said: “We made a commitment in 2012 to female entrepreneurs in this country to increase supports dedicated to them, and we did this in direct response to the low number of female-led start-ups receiving investments and supports.

“Six years later, the breakdown is encouraging.

“More than one-in-three start-ups supported by Enterprise Ireland last year through the High-Potential Start-Up programme and CSFs were led by women, compared to just one-in-ten start-ups in 2012.

“However, we need to keep this momentum and grow these numbers so that we see more women confidently starting new businesses and successfully scaling existing ones.”

Applications for the new CSF will open on Tuesday 1^st May and will close for submissions at 3pm on Tuesday 15^th May. Application forms and eligibility criteria can be found via the Enterprise Ireland website.

If you’re a budding female entrepreneur with an exciting start-up idea, your local TaxAssist Accountant can help you from day one by assessing you cashflow position, determine the right business structure for you and help to consolidate this information in a formal business plan.

For an initial consultation with your nearest TaxAssist Accountant, call our friendly and experienced team today, or drop us a line using our online enquiry form.

Date published 19 Apr 2018 | Last updated 19 Apr 2018