Fianna Fáil TD Erin McGreehan has said more than 1,000 start-ups will receive funding and supports to scale and succeed be transformed by Startup Ireland, the Government’s new national initiative.
Led by Enterprise Ireland, Startup Ireland will bring together Government, agencies, investors, universities, industry and the wider startup community to create a more connected and founder-first startup ecosystem. It aims to support the creation of 1,000 new startups and increase the number of these companies reaching €1 million in turnover by 20%.
Welcoming the launch, Deputy McGreehan said: “This Government initiative will be a gamechanger for thousands of Irish startups.
“Startup Ireland will help entrepreneurs across the country access mentorships and scale their businesses, access international markets while staying here in Ireland. It will also strengthen Ireland’s future economy.”
The Louth TD added: “We want small Irish businesses, which are providing jobs locally, to thrive and have all the resources they need. That’s what this funding will do.”
Startup Ireland will establish a National Startup Hub, which will be co-located with Enterprise Ireland’s new Dublin city-centre headquarters and set up the Startup Ireland National Accelerator Programme. It includes a funded National Company Accelerator with a €100k investment for participants to accelerate their growth and international scaling.
A Startup Ireland AI Accelerator will also be created. It will bring together more than 30 partners spanning AI foundation models and computing infrastructure including Analog Devices, Anthropic, AWS, Crusoe, ElevenLabs, Fin, Google, Microsoft, Nvidia, OpenAI, Stripe, Vanta and many more. This first accelerator will be operated by Dogpatch Labs.
The selected companies will benefit from 12 weeks of direct access to technical expertise, customers and investors to help them develop and scale internationally. Eligible startups will also have access to over €1 million in potential technology and cloud credits.
Enterprise Ireland and IDA Ireland will also collaborate to connect participating startups with multinational companies both in Ireland and in international markets, opening up opportunities to access potential customers, technical expertise and commercial partnerships.
For further information, reach out to Erin McGreehan.
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