Empowering Startups: How the PSSF Fuels Ambition and Growth

WestBIC is an Enterprise Ireland partner providing hands-on startup support, funding readiness and investment preparation for early-stage founders in the west of Ireland.

The Enterprise Ireland Pre-Seed Start Fund (PSSF) provides essential early-stage investment to help startups accelerate growth and achieve key milestones. The fund offers €50,000 or €100,000 (delivered in two €50,000 tranches) through a Convertible Loan Note instrument.

In addition to financial backing, recipients benefit from:

• A dedicated Development Advisor.
• Ten mentoring sessions with the Enterprise Ireland mentor panel.
• Access to insights from the Enterprise Ireland Market Research Centre.

This fund is open year-round, allowing startups to apply at any time. However, timing is crucial, and businesses are limited to three applications within a 12-month period.

Anna-Marie Turley, Department Manager for Entrepreneurship & HPSU Operations at Enterprise Ireland, states:

“PSSF is designed to accelerate the growth of early-stage startups with the capacity and ambition to succeed in global markets. The fund covers operational costs such as product development, market testing, and building critical skillsets. We’re seeking innovative businesses with the drive and ability to scale.”

Eligibility Criteria

To apply, a company must:

• Operate as a manufacturing or eligible internationally traded services business.
• Be pre-trading or recently trading with annual revenues under €150,000.
• Be less than four years old at the time of application.
• Demonstrate potential to create 10 Irish jobs and €1 million in sales within three years.
• Have received no more than €150,000 in equity funding before applying.
• Be registered and based in Ireland, with the management team located there.

Additionally, the business must comply with EU state aid criteria as an innovative startup or under de minimis funding rules. Visa status must also be regularized before receiving investment, if applicable.

Who Can Apply?
The PSSF targets startups with:

• A Minimum Viable Product (MVP) or Beta version and early customer validation.
• A validated customer proposition supported by market research.
• A clear execution plan with key milestones.
• Innovation, international growth potential, and employment capacity.
• A balanced team with domain expertise.

The fund is open to early-stage Manufacturing and Internationally Traded Services companies. Former recipients of the Competitive Start Fund (CSF) may also apply but are eligible for a maximum of €50,000 if they meet suitability criteria.

What Does the Fund Offer?

The PSSF provides:

• €50,000 or €100,000 via a Convertible Loan Note (in one or two tranches).
• Development Advisor support.
• Ten mentoring sessions with Enterprise Ireland’s mentor panel.
• Access to the Enterprise Ireland Market Research Centre.

Eligible costs include salaries, consultancy fees, travel, and developing market-ready solutions. However, direct export costs like sales and marketing are not covered.

Why is the PSSF Important?

The fund bridges a critical gap for startups, providing the resources to reach significant technical and commercial milestones. It prepares businesses for future seed funding and supports their journey toward international scaling.

If your startup has a validated product, a strong team, and global ambitions, the PSSF can be a strategic step. Ensure your application demonstrates clear milestones, eligibility, and growth potential.

The Application Process

Applications must be submitted via the Enterprise Ireland online system and include a video pitch. Irish Business Innovation Centres (BICs) host monthly workshops to guide applicants through the process. These workshops include tailored support to prepare strong applications.

To qualify for the first €50,000 tranche, applicants must secure €5,000 in co-investment as new equity or quasi-equity post-application. A second tranche (if applicable) requires Enterprise Ireland’s approval of milestone progress, a valid Tax Clearance Certificate, and updated management accounts.

Key evaluation areas include:

• Company profile and team expertise.
• Product/service innovation and market opportunity.
• Ability to meet technical and commercial milestones.

The ultimate goal is to identify startups with high potential for international growth, capable of achieving €1 million in revenue and creating 10 jobs within three years.

Upcoming Workshop
WestBIC will host a workshop on Wednesday, 19th February, providing an overview of the Pre-Seed Start Fund and tips for a successful application. Monthly workshops are also available — details can be found on the Enterprise Ireland website.

For more information on eligibility, application guidance, and workshops, visit the Enterprise Ireland website.

Empowering Startups: How the PSSF Fuels Ambition and Growth was originally published in WestBIC on Medium, where people are continuing the conversation by highlighting and responding to this story.