New investment fund to create 49 jobs in Cork

Cork based Boole Investment Syndicate have announced a €1 million investment in five start up companies that will fund the creation of 49 jobs. Boole Investment Syndicate, supported by the Halo Business Angel Network (HBAN) and Cork Business Innovation Centre (Cork BIC) have announced that five companies, four of whom are based in Cork have received investment of €1 million.

These companies also raised an additional €2 million investment from Enterprise Ireland and venture capital companies bringing the total investment to €3 million in the past year.

The investment will fun product development, international growth and the creation of 49 jobs which will bring the total number of employees at the five companies to 102 by 2014.

"The opportunities that are coming to us have improved greatly thanks to the work of HBAN and Cork BIC, as they qualify leads before we ever see them, ensuring they are a match to what we are looking for and what the companies themselves need. This has also had the added benefit of increasing the chances of these start-ups receiving investment, as they have been pre-qualifies with all the criteria checked and verified," said Shemas Eivers of Boole Investment Syndicate.

"Cork is increasingly becoming a hub for technology investment with large multi-nationals along with indigenous organisations making announcements of increased investment in the region over the last six months. Four of the five companies receiving investment from Boole Investment Syndicate operate in the technology sector."

Mingo, a provider of ethernet operations and management hardware solutions, based in Mahon is one of the four companies based in Cork that has received the investment.