Enterprise Ireland has announced a new €0.5m Competitive Start Fund to support start up activity in all sectors. 

The fund will provide €50,000 in equity funding for each successful applicant.

Enterprise Ireland said the new fund will give young companies in all sectors the critical early stage funding to test the market for their products and services and progress their business plans for the global marketplace.

The fund is open to applications from individuals, early stage companies or prospective businesses active in the manufacturing and internationally traded services sectors.

These include internet, games, Apps, mobile, SaaS, cloud computing, enterprise software, life sciences, cleantech and industrial products. 

"Ireland is recognised as a key hub for innovation and entrepreneurial drive and this new fund targeting all sectors across the board will make a real contribution to supporting more start-ups and ultimately more jobs in Ireland," commented the Minister for Jobs, Enterprise and Innovation, Mary Mitchell O'Connor.

It will open for submissions on September 21 and will close on October 5.