On 31 May 2013 the Minister for Jobs, Enterprise and Innovation formally announced the launch of a new €175m Seed and Venture Capital Scheme 2013 to 2018 (the “Scheme”).

Over the lifetime of the Scheme Enterprise Ireland will make commitments of €175m in venture capital funds with the objective of leveraging a further €525m in funding from private sector sources.

The first call for expressions of interest for investment is being made with a closing date of 12 noon on 28 June 2013.  The first call for expressions of interest is focused on venture capital funds targeting investment in the wider ICT and life sciences sectors.  Further expressions of interest will be issued over the next two years.

Details of the investment criteria and the application procedures (including criteria for scoring of applications) can be accessed by clicking here.