Revealed: €750K competitive start fund for fintech and deep tech start-ups
13 June 2018
Enterprise Ireland unveils €750,000 competitive start fund for fintech and deep tech start-up companies that have the capacity to succeed in global markets
L-R: Mike Brennan, senior development adviser, Enterprise Ireland; Enda McDonnell, head of fintech, Enterprise Ireland; Minister Michael D’Arcy TD; Joe Healy, divisional manager, High Potential Start-Ups, Enterprise Ireland; Stephen Moran, head of research and development, Bank of Ireland
Enterprise Ireland has unveiled a €750,000 competitive start fund for fintech and deep tech start-up companies that have the capacity to succeed in global markets.
The fund is designed to enable recipient companies working in areas including fintech, proptech, artificial intelligence, machine learning, augmented and virtual reality, the internet of things, blockchain and cloud, to reach key technical and commercial milestones.
The new fund was launched by Minister for Financial Services and Insurance Michael D’Arcy TD at Enterprise Ireland’s ‘Future of Fintech’ event, running from June 11-13, 2018.
International focus to Ireland’s fintech sector
Coinciding with MoneyConf, the event will bring an international focus to Ireland’s fintech sector, with more than 100 influential international buyers meeting more than 40 leading Enterprise Ireland fintech companies who are changing the future of fintech.
Enterprise Ireland clients presenting at the event include Know Your Customer, Aid:Tech, Cambrist, Governor Software, Extreme Push and Touch Tech, among others. The ‘Future of Fintech’ event will cover a number of themes including access to capital, innovation and talent, with guest speakers including; Don O’Leary, head of Stripe Ireland, and Brian Norton, founder and CEO of Supply Finance.
Minister of State for Financial Services, Michael D’Arcy TD said: “With Ireland being the fourth largest exporter of financial services in the world, developing and supporting the Fintech sector is a national priority.
Ireland combines technical and financial expertise that global fintech buyers seek
“As the home to one of the most important financial services centres in the EU and one of the world’s largest concentrations of technology companies, Ireland combines the technical and financial expertise that global fintech buyers seek.
“The new competitive start fund is a key action of the Department of Finance’s IFS 2020 Action Plan for 2018 and will provide a new funding stream, critical for early stage start-up funding for fintech and deeptech companies.”
Enda McDonnell, head of fintech for Enterprise Ireland said: “The staging of MoneyConf in Ireland is a huge bonus for Ireland’s fintech sector, and one which Enterprise Ireland is utilising to shine a spotlight on the strengths of the sector to the international financial world.
One of the largest investors by deal count in fintech start-ups
“Ireland’s unique ecosystem has led to the development of a world-class fintech sector and as one of the largest investors by deal count in fintech start-ups, investing in 23 last year alone, Enterprise Ireland is supporting the international growth of Irish global fintech leaders.
“In 2016, Enterprise Ireland fintech companies generated €1 billion in revenue. The launch of Enterprise Ireland’s new competitive start fund for fintech and deeptech companies, paves the way for the next wave of companies emerging from what is a very dynamic start-up sector in Ireland.”
At the event for international guests, Enterprise Ireland will also launch a white paper on regtech, reflecting the position that Irish regtech companies have established a world-class reputation for helping financial services customers to deal with the increasingly complex and rapidly evolving regulation.
Regtech white paper
The regtech white paper will be promoted internationally as part of Enterprise Ireland’s international Irish Advantage campaign which promotes the strengths of Irish companies to international customers. The regtech white paper can be downloaded here.
Enterprise Ireland’s ‘Future of Fintech’ event coincided with MoneyConf, which is taking place in Dublin from June 11-13, 2018. Organised by the team behind the world’s largest tech conference Web Summit, MoneyConf will see the world’s leading bitcoin, cryptocurrency and fintech experts gather.
Applications for the new competitive start fund will open on June 19 and will close for entries on July 3. For further information on the fund, go to www.enterprise-ireland.com/Fintechhttp://www.engineersjournal.ie/2018/06/13/revealed-e750k-competitive-start-fund-fintech-deep-tech-start-ups/http://www.engineersjournal.ie/wp-content/uploads/2018/06/a-comp1.jpghttp://www.engineersjournal.ie/wp-content/uploads/2018/06/a-comp1-300x300.jpgNewsAI,Enterprise Ireland,fintech,internet of Things