Written answers

Wednesday, 1 May 2013

Department of Jobs, Enterprise and Innovation

Enterprise Support Schemes

Photo of Tom FlemingTom Fleming (Kerry South, Independent)
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129. To ask the Minister for Jobs, Enterprise and Innovation the take up of the competitive feasibility fund for female entrepreneurs to enable the selected entrepreneurs to investigate the viability of new growth orientated business propositions that have the potential to become high growth potential start ups; who are the selected applicants; and the number of jobs approximately it is envisaged will be created; and his plans to provide more funding for this scheme in the future. [20788/13]

Photo of Richard BrutonRichard Bruton (Dublin North Central, Fine Gael)
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In line with the Action Plan for Jobs 2012, Enterprise Ireland launched its first financial supports specifically targeted at female entrepreneurs in July 2012. Initially, a fund of €250,000 was made available for a Competitive Feasibility Fund for early stage female entrepreneurs for grants of up to €25,000. When the Fund closed in September 2012, more than 120 applications had been received. Due to the level of response and the quality of the applications, the Fund was increased to €350,000 and 20 applicants were awarded funding. In October 2012, Enterprise Ireland launched a €500,000 Competitive Start Fund for female entrepreneurs catering for more mature projects. Some 86 applications were received and €50,000 was approved in funding for each of 10 companies. The remaining applicants are working with Enterprise Ireland on their business plans to help them get to the investor-ready stage of development. While it is not possible at this stage to give exact job creation figures, this funding has created a pipeline of female-led start-ups across a wide range of sectors, which should lead to significant job creation and exports in the coming years. Funding for Enterprise Ireland's Competitive Start Fund has been made available again in 2013 and four calls for applications will be announced over the year. All companies in receipt of funding from Enterprise Ireland will be listed in the Agency’s 2012 Annual Report and Accounts to be published later this year.

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