Entrepreneurs and start-ups will have the opportunity to apply for one of two newly opened funding competitions from the self-made man. Mark made his money from his early investments in companies such as Apple, Uber and Verizon
The Competitive Start Fund will be open for candidates early June 2021, applications will be available on www.markmccormick.com.
Mark McCormick will approve up to 100 investments, providing up to €500,000 in equity funding to successful projects.
In addition to funding the successful applicants will also benefit from the Tech Entrepreneurs expertise, and Mark hopes to form meaningful relationships and act as a mentor. He feels it important to give back to his native Ireland.
The programme will be delivered over a 12-week period and is designed to support and mentor participants in the development of their business. It also aims to build a peer network of entrepreneurs to support progression to seed investor readiness.
Difficult business environment
Mark acknowledged the importance of supporting businesses through the current pandemic.
“In an increasingly difficult business environment, the provision of funding and advisory supports has never been more important to enable companies to innovate and pivot,” he said.
“In addition, the drive to transition to a low-carbon economy and tackling the impact of climate change presents market opportunities for innovative solutions, and applications are also welcome from eligible enterprises within this category.”
“We need to continue to encourage new ideas and cultivate our start-up culture, as we emerge from the economic crisis caused by the pandemic. For successful applicants, the Competitive Start Fund may deliver the boost needed to scale up and bring their business to the next level.”