VENTURE CAPITAL: IRELAND NEEDS to increase the amount of capital it has available for young business ideas if it is to start and grow enterprises on an “unprecedented scale”, according to the draft report.
A key goal for the State in the period to 2020 must be a “transformation in scale and nature of the Irish venture capital environment” through the attraction of top tier venture financing to Ireland so as to successfully grow innovative companies.
The State should nurture a national portfolio of “business angel funds” so as to direct capital into innovative companies.
Until this occurs, the report recommends temporary State intervention by way of a new Seed Capital scheme. The report also suggests a set of tax incentives that would incentivise start-up and angel funding activity.
To read the full, original article click on this link: Funds must be freed for starting up enterprises - The Irish Times - Thu, Mar 11, 2010
Author: COLM KEENA
