merrion street

The Minister for Jobs, Enterprise and Innovation, Mr Richard Bruton TD, today [Wednesday] announced the establishment by Enterprise Ireland of a €200K Pilot Competitive Feasibility Fund aimed at stimulating start ups and creating jobs in the South East.

The Fund was previously signalled as part of the South East Employment Action Plan, published by the Minister last month. Funding of up to €25,000 will be provided to start-up companies with job-creating potential in the South East region.

Companies in the ICT, industrial and food sectors based in Waterford, Wexford, Carlow, Kilkenny and South Tipperary will be eligible to apply.

The purpose of the Pilot Competitive Feasibility Fund for the South East Region is to accelerate the growth of start-up companies that have the capability to succeed in global markets. The fund is designed to assist a new start-up company or individual entrepreneur to investigate the viability of a new export orientated business or proposition.

The closing date for applications is 30^th January 2012, and it is expected that the first awards will be made shortly after that.

Making the announcement, Minister Bruton said:

"The South East is a region which has persistently had higher rates of unemployment than the rest of the country, and has fared disproportionately badly during the current economic difficulties. That is why I have started a process to examine the causes of this problem, and to target government interventions at the region to address it.

"In the South East just as across the rest of the country, job-creation will depend above all on our ability to create a new indigenous engine of growth. This Fund is directed at helping the indigenous businesses which will create the jobs we so badly need in the South East, and I urge businesses with strong job-creation potential to come forward and compete for the funds available. In this way we can create high-growth, job-creating businesses in the region and finally make a start at addressing the serious problems it faces".

"This fund, which aims to help the high growth indigenous businesses that will create the jobs of the future, is one part of that plan".