AIB has made a £2.5 million (€3.2 million) equity investment in HotOrigin, a leading accelerator of software and e-commerce companies, the bank revealed this week.

AIB's initiative will provide first-round funding for onward investment by HotOrigin in early stage ventures. Established in March this year, HotOrigin helps e-companies in their start-up phase by providing services such as management team development, business strategy, financing and equity advice, marketing strategy, operations management and technical architecture services.

It also takes stakes in the companies it accelerates and is currently working with seven corporate and entrepreneurial ventures.