What Is The Competitive Start Fund?
A new Enterprise Ireland (EI) fund targeted at startups in the aviation and manufacturing sectors is now open for applications. The EI Competitive Start Fund will accept submissions until April 30.
Through the fund, €500,000 in equity support will be apportioned out to the successful applicants, each of whom can receive up to €50,000. Eligible entrepreneurs must be active in the aviation and/or manufacturing sectors.
EI says that the priority of the fund is to provide young companies in these sectors with early-stage funding for the commercial and technical milestones that will ensure delivery of their product or service, and help them get their project to a key funding milestone.
The fund is open to applications from a wide range of aviation-sector business. These include:
· Financial services associated with the sector;
· Aircraft and engine leasing;
· Aviation software and IT;
· Travel-related software and related services;
· Small aircraft assembly;
· Aircraft dismantle;
· Maintenance repair operations;
· Airframe and components;
· Composite repair;
· Parts manufacture;
· Aviation services and other engineering and technical activities.
EI is also inviting manufacturing sector applications from startup businesses proposing to use mechanical, electrical and chemical engineering technologies for the production of goods, as well as new startups involved in activities such as material forming, tooling, automated systems, additive processes and related technical activities.
The new fund is seen as a follow on from EI's Competitive Feasibility Study Fund, launched in 2013, which allocated €375,000 to 20 entrepreneurs and businesses working in the aviation sector.
Full details of the new fund, including the application form, are available here. (10/04/14)