Enterprise Ireland has launched a Competitive Start Fund (CSF) targeted at supporting marine technology and agritech start-ups.

A total fund of €500,000 is available, with each successful applicant receiving €50,000 in equity funding.

Enterprise Ireland is ideally looking to attract early-stage projects that are able to demonstrate:

The product or service has reached minimum viable product stage.

The product or service has demonstrable customer validation.

There is a fully articulated proposition addressing a clear gap in the market, with market research conducted with customers/potential customers.

Suitable channels to international markets have been identified.

Core of the economy

Commenting on the fund, Minister Michael Creed said: “I am delighted to launch the Competitive Start Fund for marine technologies and agritech. Ireland boasts a diverse and highly-skilled community of entrepreneurs and these sectors in particular are very progressive.”

“Irelands’ marine and agriculture industries are at the core of the Irish economy. Start-ups in these sectors have the capacity and commitment to contribute to global developments and make positive impacts on a global scale.”

Sub-sectors

Applications in the agri-tech sector are sought from the following sub-sectors:

Individual technologies or a combination of technologies related to farm equipment.

Weather.

Seed optimisation.

Fertiliser and crop inputs.

Irrigation.

Remote sensing (including drones).

Farm management.

Agricultural big data.

The fund will open for submissions on Tuesday 10 July and close on Tuesday 24 July.

€120m investment boost for Irish agri-tech start-ups