The specialist Corporate Department at Baily Homan Smyth McVeigh (“BHSM”) has extensive experience advising startups on their legal obligations when applying for funding from Enterprise Ireland (“EI”), and on implementing the corporate structures necessary to comply with EI’s funding requirements.
EI manages the Competitive Start Fund (“CSF”), an initiative directed at early stage startups, whereby successful applicants can secure up to €50,000 of funding, in return for an ordinary equity stake in their business. Funding is allocated to a company who has the capability to develop an innovative product or service for sale on international markets, creating 10 jobs and €1m in sales within three to four years of forming, ultimately becoming a High Potential Startup.
Once a company has secured funding, BHSM can assist with all aspects of a company’s engagement with EI, with a particular focus on:
• Reviewing and populating the EI share subscription and shareholders agreement;
• Preparing company secretarial documents, including board minutes, Companies Registration Office forms and
share certificates; and
• Providing solicitors’ certificates and confirmation of private funding received by the start-up.
For further information on our services in this area, please contact Sarah O’Toole or Joe McVeigh on +353 (1) 440 3800.