ENTERPRISE IRELAND has launched a major new strategy for the services sector with the aim of doubling service exports to €5.25 billion by 2015.

Tánaiste and Minister for Enterprise, Trade and Employment Mary Coughlan has also announced a new €3 million Enterprise Ireland support fund for established Irish businesses that want to start selling overseas.

Under the Going Global fund, companies that have identified overseas market opportunities will be invited to apply for grants of up to €50,000 to meet costs such as wages, consultancy fees, travel and subsistence and other overheads.

Up to 50 per cent of all eligible costs can be supported through the grant, which is open to companies with 10 or more employees or with annual turnover of greater than €1 million.

Under Enterprise Ireland's internationally traded services strategy, it will set up a new specialised unit dealing with the sector; establish a panel of mentors with specific experience and skills to work with its client companies; and introduce a "first flight" support programme to assist companies that want to expand internationally.

Between 2005 and 2007, exports by the agency's internationally traded services clients increased by €847 million to €2.61 billion. The agency believes its strategy can add up to €1.5 billion in new export sales by 2010.

"These plans and supports will give ambitious services firms, particularly those that have not looked beyond the Irish market yet, the confidence to offer their quality services in global markets, generating wealth and prosperity for the economy back home," the Tánaiste said.

Ireland is the 10th biggest exporter of services in the world, with the sector accounting for more than two-thirds of Ireland's workforce. Over the next 10 years internationally traded services are predicted to be the main source of job creation for the economy.