The Minister for the Economy has today announced the launch of three new funds worth £250million to support access to finance for Northern Ireland businesses.
The £250million includes:
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TechStart III – a £55million fund managed by TechStart Fund Managers, including a £7million Proof of Concept grant fund, to help budding tech-focused entrepreneurs commercialise their innovative ideas.
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Co-Fund III – a £39million fund managed by Clarendon Fund Managers which will invest alongside private investors and business angels to help local companies grow.
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NI Small Business Loan Fund III – a £6million fund managed by Ulster Community Finance which will provide loans of between £10,000 and £125,000 for established micro-businesses and SMEs to support growth.
The Minister said:
“These three funds will give our innovative, entrepreneurial companies the financial support they need to grow and create jobs. Ensuring access to finance is vital if our economy is to thrive and these funds will help unlock the potential of businesses across Northern Ireland.”
He added:
“TechStart III will build on the success of the previous TechStart funds and help our tech entrepreneurs bring their ideas to market. Co-Fund III will continue to invest in high-potential businesses alongside experienced private investors, while the NI Small Business Loan Fund III will support micro-businesses and SMEs in their plans to grow.”
This announcement is great news for businesses in Omagh and surrounding areas, giving them new opportunities to access funding and build on their success.
Access to Finance is open to any business in Northern Ireland that meets the individual fund criteria. More information is available on each fund on the Invest NI website.
