Today, Enterprise Ireland announced the creation of a new Competitive Start Fund of €750 000, focused on supporting startups working in the field fintehnology.
The Fund’s establishment was announced at a meeting today in Dublin with Enterprise Ireland, the event Future of Fintech.
Fintekhnologii declared a national priority
“As Ireland is the fourth largest exporter of financial services in the world, development and support sector fintehnology is a national priority,” said Minister of Finance of Ireland, Michael D’arcy.
“New Competitive Start Fund is a key step in the implementation of the action plan for IFS 2020 the Department of Finance for 2018 that will provide the initial stream of funding to support companies working with block technology.”[/su_quote]
Applications for funds for development will be accepted by the Foundation from 19 June to 3 July.
According to the creators of the Foundation, the main goal is to provide startups with the opportunity at an early stage to achieve the key technical and commercial success.
Enterprise Ireland has become one of the largest investors in the FINTECH industry last year, said the head fiintech Department of a company ENDA McDonnell, investing in 23 firms last year alone.
“In 2016 the Enterprise Ireland fintech received income in the amount of 1 billion euros. The launch of a new Competitive Start Fund from Enterprise Ireland, to support FINTECH start-UPS involved in the development in innovative blockchain technology opens the way for the creation of new waves of participants going to a rapidly developing technological sector in Ireland,” said McDonnell.
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