Robert Troy (Longford-Westmeath, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

154. To ask the Minister for Jobs, Enterprise and Innovation the current and capital allocation made to the competitive feasibility fund for female entrepreneurs of Enterprise Ireland in each of the years 2016 to 2019 and in budget 2020; the number of applicants to the scheme in each year; the number of successful applicants approved for funding; the value of approved funding in each year in tabular form; and the maximum funding permitted to a successful applicant. [43999/19]

Heather Humphreys (Cavan-Monaghan, Fine Gael)
Link to this: Individually | In context | Oireachtas source

My Department, through Enterprise Ireland (EI), is committed to supporting female entrepreneurs to achieve their potential in global markets. Its main vehicle for encouraging female-led export businesses is its Competitive Start Fund for Female Entrepreneurs.

The aim of this fund is to accelerate the growth of female founded start-up companies that have the potential to employ more than ten people and achieve €1 million in export sales. Under the scheme, companies receive up to €50,000 equity investment to enable them to reach key commercial and technical milestones which will ensure the delivery of their product or service to an international audience.

The maximum support available is €50,000 for a 10% ordinary equity stake in the start-up company and €1,750 for mentor assignments per company. The investment is released in two equal tranches.

The most recent Competitive Start Fund for female entrepreneurs was launched in June 2019 and a total of €776,250 was made available for up to 15 female led companies.

As EI does not differentiate between current and capital allocation under this Fund, Table 1 refers to the total allocation for each of the specified years. In relation to the Competitive Feasibility Fund referred to in the question above, the Competitive Feasibility Fund is no longer in operation. In addition, the Competitive Feasibility Fund for Female Entrepreneurs was not active during the period 2016-2019.

Table 1: The Total Allocation under the Competitive Start Fund for Female Entrepreneurs in each of the years 2016 to 2019

Table 2: The number of applicants to the Competitive Start Fund for Female Entrepreneurs in each year 2016 to 2019

Table 3: The number of successful applicants approved for funding under the Competitive Start Fund for Female Entrepreneurs for each year 2016-2019

Table 4: The value of approved funding under the Competitive Start Fund for Female Entrepreneurs in each year 2016-2019

EI is currently developing a new strategy for female entrepreneurship to enable ambitious female-led companies to scale in international markets, as well as continuing to focus on increasing female founded High Potential Start-Ups. The 2020 budget allocation for the Competitive Start Fund for Female Entrepreneurs has not yet been defined.