Martin Heydon (Kildare South, Fine Gael)
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309. To ask the Minister for Jobs, Enterprise and Innovation the options that are open to persons that are seeking seed capital for start up businesses; if plans are in place for further schemes to be established; and if she will make a statement on the matter. [12432/17]

Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael)
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There are a large number of  seed capital supports provided through my Department and its agencies.

Enterprise Ireland has committed €352 million over three funding cycles to some 39 venture capital funds and 4 seed funds since 1996, with a further €175 million to be committed under the current programme (SVC 2013-2018).  Leveraged funding is in the order of €1.25 billion.

The Enterprise Ireland supports include:

- Seed and Venture Capital Schemes

- European Angel Fund

- HBAN

Enterprise Ireland also has specific start up supports available.  These include:

- High Potential Start-Up (HPSU) Seed Investment

-Innovation Vouchers

- Enterprise START

- New Frontiers

- Competitive Start Fund

Details of all these schemes are available on the Enterprise Ireland website.

In addition to this, the Local Enterprise Offices can offer direct grant aid to microenterprises (up to ten employees) in the manufacturing and internationally traded services sector which, over time, have the potential to develop into strong export entities.

Microfinance Ireland (MFI) also provides funding through loans up to a maximum of €25,000, to start-up businesses. MFI will finance start-up costs, expansion costs and/or working capital needs. 

The Credit Guarantee Scheme is also available to SMEs that are unable to access credit because there is an inadequacy of collateral and an inadequacy of understanding of the novelty of a business model, sector or technology and can be sourced through the major banks.

The ‘Supporting SMEs’ Online Tool at www.localenterprise.ie/Discover-Business-Supports/Supporting-SMEs-Online-Tool/ gives full details of all supports available to business and I would encourage any potential start up to check what supports are available on the tool.

My Department and the agencies under my Department’s remit keep all supports under continuous review.  If an identified need emerges the Department and its agencies will respond appropriately.