Enterprise Ireland has unveiled a new competitive start fund for businesses in the Fintech and deep tech sector.
Start-ups focusing on areas such as augmented reality, virtual reality, machine learning, artificial intelligence, the Internet of things, block chain and cloud will be able to access the fund. Ireland finds itself in the unique position of been both home to one of the most important financial services centres in the EU and the largest concentration of technology companies in the world.
“With Ireland being the fourth-largest exporter of financial services in the world, developing and supporting the fintech sector is a national priority,”
Minister of State for Financial Services Michael D’Arcy, TD
The aim of the fund is to enable reach their key technical and financial milestones.
Enterprise Ireland is one of the biggest investors in fintech start-ups according to fintech head Enda McDonnell, with the State body investing in 23 firms last year alone.
“In 2016, Enterprise Ireland fintech companies generated €1bn in revenue. The launch of Enterprise Ireland’s new Competitive Start Fund for fintech and deep tech companies paves the way for the next wave of companies emerging from what is a very dynamic start-up sector in Ireland,” McDonnell said.