A new €500,000 Enterprise Ireland Competitive Start Fund designed to stimulate start-up activity in the agricultural and manufacturing sectors has been announced.

The fund, the first of its type to specifically target the sectors, provides for up to €50,000 in equity support for successful applicants.

The application window opens today and runs until 3pm on Wednesday, September 30th.

The fund is open to applications from individuals, early-stage companies or prospective businesses operating in the agri-business sector including; machine design and manufacturing; fabrication, engineering and technical activities.

Applications are also welcome from life sciences projects with application in the agri-sector; farm related software and related services; vet-pharma, animal health and chemical products.

Early stage food companies with the potential to export are also encouraged to apply.

The new Fund is part of Enterprise Ireland’s strategy for increasing the number of high potential start-ups that have the potential to employ more than 10 persons and achieve €1 million in export sales within three years.

Launching the fund, Minister for Business and Employment, Ged Nash said: "A key part of the Government's Action Plan for Jobs is targeting specific sectors where we have established strengths, and supporting growth and expansion in those areas in order to create jobs."