Dáil Éireann Debate, Wednesday - 23 October 2024
87. Deputy Paul McAuliffe asked the Minister for Enterprise, Trade and Employment if the €250 million in funding for the seed and venture capital scheme is to be provided entirely by his Department under Vote 32 of the Estimates; and, if not, to provide details of how the funding will be provided. [43481/24]
View answerThe next cycle of the Seed and Venture Capital Scheme will operate for the period 2025 to 2029 and will have a record allocation of €250 million.
The Scheme is administered by Enterprise Ireland and the amount that is committed in any one of the five years of the programme is dependant on the results of competitive calls that EI will open.
The actual amount that is drawn down for investment funds in any calendar year will cover commitments made in previous years and will be determined by the operations of the funds into which the commitments are made.
The funding for the Scheme is allocated to Enterprise Ireland, from the Department's Capital Budget allocation under Program A-Jobs and Enterprise Development under Vote 32 of the Estimates.
Enterprise Ireland’s activities are also funded from the generation of Own Resource Income which, subject to the sanction of the Minister for Public Expenditure, NDP Delivery and Reform, they may retain for use on programme activity.
