Enterprise Ireland, an Irish state-owned economic development agency, has rolled out a €750,000 Competitive Start Fund for fintech and deep tech startups.
The purpose of the fund is to empower technology startups to reach key technical and commercial milestones.
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The fund will lend support to ventures working in fintech, proptech, augmented and virtual reality, artificial intelligence, machine learning, the internet of things, blockchain as well as cloud.
Applications for the fund will be accepted from 19 June 2018 till 3 July 2018.
Ireland minister of state for financial services Michael D’Arcy said: “With Ireland being the fourth-largest exporter of financial services in the world, developing and supporting the fintech sector is a national priority. As the home to one of the most important financial services centres in the EU and one of the world’s largest concentrations of technology companies, Ireland combines the technical and financial expertise that global fintech buyers seek.
“The new competitive start fund is a key action of the Department of Finance’s IFS 2020 Action Plan for 2018 and will provide a new funding stream, critical for early stage start-up funding for fintech and deeptech companies.”
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By GlobalDataFintech startups sponsored by Enterprise Ireland generated over €1bn in revenue in 2016. The agency claims it was one of the largest fintech investors, investing in 23 deals in 2017.
