Question: What funding is available for my start-up company?

By Simon O’ Connor, 12th August 2015

Answer:

For a start-up company 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 work space, 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 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 needs 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.

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