Enterprise Ireland, a government organisation responsible for the development and growth of Irish enterprises in world markets, has announced the launch of a new €750,000 Competitive Start Fund (CSF) for Fintech and Deep Tech start-up companies.

The fund will support companies working in areas including fintech, proptech, artificial intelligence, machine learning, augmented and virtual reality, the internet of things, blockchain and cloud. It will be launched by Minister for Financial Services and Insurance, Michael D’Arcy TD at Enterprise Ireland’s ‘Future of Fintech’ today.

“The new competitive start fund is a key action of the Department of Finance’s IFS 2020 Action Plan for 2018 and will provide a new funding stream, critical for early stage start-up funding for fintech and deeptech companies,” Minister of State for Financial Services, Michael D’Arcy T.D. said.

In addition, Enterprise Ireland is also going to launch a white paper on Regtech, reflecting the efforts of the Irish Regtech companies aimed at helping financial services customers to deal with the increasingly complex and rapidly evolving regulation.

According to the official release, applications for the new CSF will open on June 19 and will close for entries on 3rd July.

Enterprise Ireland is also backing an initiative recently launched by the Irish Blockchain Expert Group (IBEG) aimed at providing information on the Irish blockchain ecosystem.