Enterprise Ireland

Enterprise Ireland is the Irish government agency in charge of the development and promotion of the business sector. Founded in 1998, it is headquartered in Dublin, Ireland. Its mission is to help Irish companies scale to global market positions, in order to increase regional and national prosperity.

Enterprise Ireland offers a wide range of expertise and funding support. They back innovation and research and businesses development at all stages, from seed and early-stage to late-stage and private equity. 

 As part of a Government drive to support young Irish companies, a new fund was launched on February 9th, 2022. It is the Irish Innovation Seed Fund which will be led by Enterprise Ireland and managed by the European Investment Fund.

With an amount of €90 million, this new fund adds to a previously launched government fund: the Seed and Venture Capital Scheme, “a five-year €175m fund running until 2024 that is administered by Enterprise Ireland and provides funding of up to €20m to individual eligible firms.” One third of the €90m is supplied by the Department of Enterprise, Trade and Employment, another third by the European Investment Fund, and the last third is provided by the Irish Strategic Investment Fund.

In the Minister for Enterprise, Trade and Employment’s own words, one of the objectives of this fund is “to reward those creating the jobs of the future and help them reach the next stage of development”. This fund is aimed at early-stage startups with the potential to grow and scale up, and that have previously faced problems in attracting early-stage investment. Also, regional development, climate change, and female entrepreneurship will be prioritised as investment beneficiaries.

These are some of the sectors in which the fund will invest: fintech, healthcare and pharma, food and agri-tech, life sciences and technology and digitalisation.

All investments in the programme will be made over the next three years and will last 10 years.

Last update: March 16, 2022.