€500k in funding for Fintech start-ups available from Enterprise Ireland

  • FinTech StartUps
  • 05.07.2017 09:15 am

Bank of Ireland to Facilitate Competitive Start Fund Programme

A total of €500k in funding for Fintech start-ups is available from Enterprise Ireland, the government organisation responsible for the development and growth of Irish enterprises in world markets, through its Fintech-dedicated Competitive Start Fund (CSF).

Up to 10 successful Fintech start-ups will receive high-level business development support and an investment of up to €50,000 each through the Fintech CSF.

Applications to the €500k Fintech CSF are currently being accepted from early-stage companies offering a Financial Technology (Fintech) product or service.

Enterprise Ireland’s CSF is designed to accelerate the growth of start-ups and enable companies to reach key commercial and technical milestones. This year’s programme will be facilitated in the new Bank of Ireland Fintech startlab based on Camden Street, Dublin.

Joe Healy, Divisional Manager, High Potential Start-Ups, Enterprise Ireland said: “Ireland is a hub for Fintech innovation and a key focus of Enterprise Ireland is to encourage and support more entrepreneurs through the Fintech CSF in the areas of Payments, Banking, RegTech, Security, and InsurTech as well as Fintech solutions that leverage Blockchain, IoT, AI and Data Intelligence technologies. Up to 10 companies will receive up to €50k each through this fund and we are also delighted to announce that this year’s Fintech CSF will be accompanied by a programme of tailored business development supports and incubation space in partnership with Bank of Ireland’s innovation team”.

David Tighe, Head of Innovation at Bank of Ireland added, “Bank of Ireland are delighted to provide incubation space to this year’s Enterprise IrelandFintech CSF, our new startlab based in Camden Street will incubate these high potential start-ups and alongside desk space also provide access to a full range of tailored business supports including mentorship and support from our dedicated Innovation and Enterprise team. We look forward to welcoming the Fintech CSF companies to Camden Street as we continue to support the innovative and thriving Fintech and start-up community today in Ireland.”

In addition to written online applications, companies will be asked to prepare an online video pitch. Companies must meet certain eligibility criteria and applicants may apply for either the Regional Entrepreneurship or Fintech CSF, but not both.

Successful overseas applicants will be required to move to Ireland. Enterprise Ireland will assist entrepreneurs who need a visa to live and work inIreland. Successful applicants from outside the EU will be eligible for a Startup Entrepreneur Visa which permits the holder and his/her family members to reside and work in Ireland - see details here for rules of the scheme

The competition will close at 3pm on Wednesday 5 July 2017.

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