Investing

New investor rules will create ‘damaging’ funding gaps for Irish firms in 2024, Elkstone warns

EU-mandated changes to EIIS scheme will make it harder to raise funds and hurt the Irish start-up ecosystem, major investment house claims

Alan Merriman, Elkstone chief executive: new employment changes will be ‘damaging’ to Irish start-ups. Picture: Bryan Meade

New investment rules being implemented by the government will be “damaging” to young Irish companies and will “inevitably” create funding gaps for start-ups in 2024, the state has been warned.

Elkstone, the Dublin-based investment house, has said the negative impact of new rules around angel investing – which Ireland is required to implement under EU regulations – “cannot be overstated”.

In a letter to various government ministers, the firm has warned that the new rules ...