Ireland launches innovation fund to support enterprise

Ireland’s minister for enterprise, trade and innovation, Batt O’Keeffe TD, has launched a bid to attract investors to the country under a €500m (£430m) fund to support enterprise and create jobs.

According to a statement, the first call for expressions of interest in Innovation Fund Ireland is the latest step in the government’s plan to generate jobs in the so-called ’smart’ economy.

Innovation Fund Ireland aims to attract global venture capital firms and experienced investment managers to Ireland to invest in innovative small and medium-sized companies.

The government’s job creation agency, Enterprise Ireland, and the National Pensions Reserve Fund (NPRF) manage Innovation Fund Ireland and investors have until 26 November to signal their interest in establishing a presence in Ireland.

’Innovation Fund Ireland will help to transform our investor environment by establishing top-tier international venture capital funds and networks,’ said O’Keeffe. ’Investors will partner with the government in backing high-potential firms with collateral to help them grow into major employers.’

Visit www.innovationfundireland.com for more information.