VIRTUAL Ireland (Holdings), a company set up to publish and distribute the specialist publication European Food Industry News has launched a £250,000 Business Expansion Scheme (BES).

Virtual Ireland plans to use the funds raised to build subscription revenues in the US and to develop related premium products.

The weekly newsletter, which is faxed or e mailed to subscribers, was launched in the US in early January and is to enter British and Irish markets later this year. It provides a digest of brief news items from the European food and drink industry.

According to Virtual Ireland, the newsletter is aimed at 6,000 US companies, each with a turnover of more than £50 million.