Paudie Coffey (Waterford, Fine Gael)
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Question 69: To ask the Minister for Jobs, Enterprise and Innovation the number of applications received for new start-ups in the South East Region for the €20,000 fund per project as announced in the Forfás action plan for the South East; and if he will make a statement on the matter. [27622/12]

Seán Sherlock (Cork East, Labour)
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Minister Bruton announced the establishment of Enterprise Ireland's Pilot Competitive Feasibility Fund in January 2012.

The Fund was outlined in the South-East Employment Action Plan which was published in late 2011. Companies in the ICT, industrial and food sectors based in the South East were 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 growth orientated business or proposition.

The Pilot Competitive Feasibility Fund for the South East Region, managed by Enterprise Ireland established a fund of €200,000 with each successful applicant receiving a maximum grant of €25,000 to cover 50% of eligible expenditure.

By the end of the close date, 45 applications were received. Applications were then assessed on the basis of eligibility and on the merits of the project. 14 were approved for funding support under the Pilot Fund.