DCU has announced a business start-up fund worth €60,000 (£47,253) per annum. Fund awards will be based on a competition open to students and graduates of the university.

The idea came from Ms Liavan Mallin, a computer applications graduate who has started several successful companies including Celtic Hampers and US-based onemade.com. Ms Mallin is donating €10,000 a year to the fund which aims to encourage DCU's final year students, postgraduates and graduates to set up a business and to give them the support needed.

In addition to the €10,000, the winner will receive advice covering audit, legal, taxation, strategic marketing and project management from Irish firms including: KPMG, A&L Goodbody, Drury Communications, ETP, Quaestus, Baseline and David Clancy and Associates.