By Simon O’ Connor, 12th August 2015
For start-up companies, funding is often the highest priority. Luckily, Ireland has a rich variety of funding programmes available for start-ups and SME’s. Some of the more popular funding options include:
Enterprise Ireland is the state agency responsible for supporting the development of manufacturing and internationally traded services companies. They provide funding and supports for companies – from entrepreneurs with business propositions for a high potential start-up through to large companies expanding their activities, improving efficiency and growing international sales. www.enterprise-ireland.com/en/funding-supports/
If you are a tech company looking for funding and support the NDRC Launchpad programme could be your best option. NDRC is an early-stage investor in tech companies which has recently been ranked as the number one IT incubator in the world. They provide the people, the workspace, time and investment needed at the earliest stages of company creation. Through these factors, they are helping to build new ventures worthy of commercial investment and the ability to scale. www.ndrc.ie
Another option for funding for your start-up company is through crowdfunding. ICrowdFund is an Irish crowdfunding website who offer two different types of project; Keep It All Crowdfunding and All or Nothing Crowding. With All or Nothing crowdfunding the total amount must be raised before any credit cards are processed. With All or Nothing the project owners need to be confident that they can reach their target. On the other hand, Keep it All crowdfunding project allows the project owner to keep the amount pledged at the end of the project period. Keep it All, sometimes referred to as Flexible Funding, may be a safer option for most projects. The project owner needs to convince supporters of the campaign that part of the project can proceed with whatever money is raised. www.icrowdfund.ie
An increasingly popular option for funding is Business Angels, also known as “informal private investors”. They are private individuals who invest capital in companies during their early stage of development. In addition, they contribute their know-how or experience in company management and can offer valuable expertise and guidance. Angels usually seek active participation in the company in which they invest. www.hban.org
If you require any assistance with the company secretarial requirements of such funding, (e.g. providing equity in return for funding) please don’t hesitate to contact us on +3531 6461625 or fill out a contact form here.
Disclaimer This article is for guidance purposes only. It does not constitute legal or professional advice. No liability is accepted by Company Bureau for any action taken or not taken in reliance on the information set out in this article. Professional or legal advice should be obtained before taking or refraining from any action as a result of this article. Any and all information is subject to change.