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4 Financing Options for Start-ups in Ireland

4-Financing-Options-for-Start-ups-in-Ireland.jpgStart-up businesses in Ireland are sustained through numerous financing options, available for investors who are starting their first small company. Ireland provides various grants and loans offering attractive conditions for the applicants. Those who want to start a company in Ireland can access such funding options provided that certain conditions are met and our team of Irish lawyers can assist businessmen with details on the requirements that have to be completed in the process. 

 

1. Innovation Grant in Ireland

  
When opening a company in Ireland as a start-up, businessmen can apply for a grant offered by the Irish institutions. In order to apply for a state grant in Ireland, the investors are required to provide a solid business plan explaining the manner in which the products or the services offered by the company will be sold on a particular market. It should also point out the strategy used for reaching the targeted customers.  
 
Investors can apply for the Innovation Grant, managed under the rules of the Local Enterprise Offices and Enterprise Ireland. Through this grant, the investors will obtain 50% of the company’s costs (Value Added Tax excluded). Our team of lawyers in Ireland can offer advice related to the application requirements. 
 

2. Refundable Priming Grant in Ireland  

 
Another way to access funding in Ireland is through the Refundable Priming Grant, which will provide to the businessmen 50% of the company’s costs (VAT excluded). Under this programme, the investors can also receive an employment grant in amount of EUR 10.000 per each job created in the company. The grant can be offered at the maximum value of EUR 80.000. 

 

3. New Frontiers Entrepreneur Development Programme in Ireland  

 
The New Frontiers Entrepreneur Development Programme is accessible at Enterprise Ireland and it represents an important funding option, as it is created in a partnership with 14 technology institutes in Ireland. It is important to know that the competition for obtaining a grant under this programme is rather high and on a regular programme, only a small number of applicants are admitted (12-14 companies). 
 

4. Competitive Start Fund in Ireland 

 
The Competitive Start Fund is offered by Enterprise Ireland and the investors can obtain grants of EUR 50.000, in the conditions in which the company’s management is prepared to offer 10% equity to its investors. 
 
Businessmen interested in finding out further information on other grants provided in Ireland which are available for start-up companies, are invited to contact our law firm in Ireland for more details. 
 

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