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Enterprise Ireland (EI) is a government body responsible for the development and growth of Irish businesses in foreign markets. The organisation works with companies to help them achieve their expansion and export goals. This includes the provision of financial supports and funding.
There are a wide range of supports available, so for ease of deciphering which you might be eligible for, we have prepared a summary of the Enterprise Ireland monetary supports available to small and medium sized Irish companies. The supports available are determined by company size and stage of development.
The supports available are designed to suit businesses at various stages in their development or growth and can be categorised as follows:
o Feasibility Stage Supports
o Investment Ready Company Supports
o Growth Phase Supports
o Established Businesses – Research and Internationalisation Supports
o Product, Process or Service Development Supports
o Management Team Development
o Business Process Improvement Supports
o Company Expansion Packages
High Potential Start-Up (HPSU)
HPSUs at the Feasibility Stage can apply for the following:
HPSU Feasibility Grant To assist innovative/high potential start-ups. Eligible costs include; Salaries and Overheads, Consultancy Fees, Foreign Travel and Subsistence, EI approved Business Accelerator Fees, Trade Fair costs and Prototype costs.
Innovation Voucher Worth €5,000, these are designed to enable early stage businesses to work with a registered college or knowledge provider in Ireland or Northern Ireland.
New Frontiers Entrepreneur Development Programme Run in partnership with the Institutes of Technology, the programme supports entrepreneurs. Can include mentoring, incubation space and a €15,000 scholarship payment.
Competitive Feasibility Fund Helps start-ups or individual entrepreneurs to investigate the viability of a new significant growth orientated business or proposition.
Mentor Grant EI pairs the company with an experienced business mentor to assist or advise on specific areas.
Investor Ready businesses can apply for the following:
Competitive Start Fund (CSF) A €50,000 equity investment designed to accelerate the development of HPSUs by helping them to achieve commercial and technical milestones.
Innovative HPSU Fund (Equity) EI offers equity investment to HPSU clients, on a co-funded basis to support the implementation of a company’s business plan.
The following Post Investment Supports are available for companies in a Growth Phase:
Mentor Grant As discussed above.
Business Links Grant Enables companies to carry out research to identify potential customers/partners using market research companies or other specialist service providers. Only open to businesses exploring new markets.
Innovation Voucher As discussed above.
Established SME (>10 Employees)
Market Research and Internationalisation Supports
Be Prepared Grant Assists SMEs with the costs associated with preparing for the threats and opportunities posed by Brexit. Can cover consultancy, travel and out of pocket expenses.
Strategic Marketing Review Grant Covers an approved programme of work in conjunction with EI advisers and an approved external consultant.
Market Access Grant Assists companies in developing a viable marketing strategy for a new market. Covers costs including new or existing staff to undertake the project, consultancy fees, office rental, purchase of market research and databases and selected marketing costs.
Internationalisation Grant Goes towards the cost of researching and exploring new international business opportunities regarding either new markets or new products Eligible costs may include; Salaries & Overheads, Consultancy Fees, Foreign Travel & Subsistence, EI approved Business Accelerator Fees and Trade Fair costs.
Business Links Grant As discussed above.
Graduates for International Growth (G4IG) Programme
This pairs graduates with companies to develop and execute plans to grow in key markets. Support available for the graduate salary and training.
Acumen Programme A cross-border Business Development Programme designed to promote cross-border trade. Covers consultancy and management costs.
Supports for Product, Process or Services Development
Technical Feasibility Study Grant Can be used to investigate the feasibility of developing a new product, process, technology or service offering.
In-house Research, Development and Innovation (RD&I) Fund Assistance with the development of new or substantially improved products, services or processes.
Innovation Voucher As discussed above.
Innovation Partnership Grant Programme Financial support for companies who engage in collaborative research projects with Irish universities and Institutes of Technology.
Horizon 2020 and other EU Research Funding Programmes International research programmes designed to foster collaborative cross-border research between companies in different EU member states.
Supports to Enhance and Develop Management Team
Mentor Grant As discussed above.
Strategic Consultancy Grant Assists with companies with the cost of planning or implementing a new strategic development initiatives.
Key Manager Grant Supports cost of hiring a new Key Manager.
Productivity and Business Process Improvement Supports
Be Prepared Grant As discussed above.
Capital Investment Initiative (CII) Fund Assists companies with improving productivity and competitiveness through the acquisition of new capital equipment and technology. Maximum support available of €250,000.
Graduate Business Growth Initiative Enterprise Ireland will fund SMEs to employ up to two graduates per year, with a Level 8 degree qualification.
Lean Start Grant Funds the undertaking of a Lean Start Assignment.
GreenStart Grant Funds the undertaking a GreenStart Assignment.
Business Process Improvement Grant Supports short-term projects that are designed to develop management capability and drive company efficiencies and business process improvements. Must include either LeanPlus, E-Marketing or GreenPlus.
Lean Transform Grant Funds a Lean Transform Project. This is a large scale, extensive and holistic company transformation programme delivered by an external consultancy team of international reputation.
Company Expansion Packages
Job Expansion Fund Assistance towards new employment. Provides support of up to a maximum of €150,000 towards the recruitment of new employees.
Tailored Company Expansion Packages Enterprise Ireland offer a range of tailored financial support packages.
All information correct as of December 2018.
For more details visit www.enterprise-ireland.com
Are you hoping to avail of financial support from Enterprise Ireland? Do you need assistance with writing a business plan to go with your application? If so, please don’t hesitate to contact us at Irish Business Plans. We have over ten years’ experience helping entrepreneurs develop their ideas and prepare professional business plans. We would be delighted to help. Get in touch to find out more.