Enterprise Ireland

I have extensive experience working with and within Enterprise Ireland. I have helped numerous Irish SMEs to get approval for and claim €Millions over the years. Knowing the grant process and what each individual company is likely to be eligible for is invaluable before even approaching an agency like EI. I do recommend that you liaise closely with your EI DA (Development Advisor) throughout the process. I have worked with many of the EIs DAs throughout the country so this will be advantageous for you. In many cases my fees for making and managing an application are covered within the grant itself or a separate grant application, hence no net cost to you.

Enterprise Ireland is the country’s premier source of grants, subsidies and other funding measures for indigenous SMEs. Their site offers a mindfield of information (unfortunately not that easy to navigate!) on how to apply for these handouts, what kind of companies are invested in and alternative forms of help available to Irish firms. Contact me if you have any questions? I’ll do my best to help.

Enterprise Ireland offers a number of categories of funding designed to help expand your business and grow exports: -

Enterprise Stabilisation Fund
An initiative aimed at viable but vulnerable internationally trading companies to help them survive the current global downturn by supporting their drive to reduce costs and gain sales in overseas markets and to sustain employment.   Sustainable economic recovery will be driven by enterprises focused on increasing their exports of innovative products and services in global markets.

Funding to explore new ideas/new markets
Preliminary funding to explore new ideas/new markets, including Feasibility studies (Ordinary, CORD, GreenTech Support, EU 7th Framework), assistance towards hiring a business mentor, attendance at trade fairs, and consultancy (Strategic, Business Accelerator Programme (BAP) and GreenTech Support consultancy).

Also under the objective of funding new opportunities are the following programmes:

Telecoms Standard Initiative

Funding for Start Up companies
The High Potential Start Up package matches the financial needs of your new company, by providing finance as you get started and by sharing the risk dynamic with you.

Growth Funding
The Growth Fund is designed to assist SME clients to achieve greater competitiveness by improving their export potential.  This will be achieved by increasing both their gross output and gross productivity, while also providing new employment or maintaining existing employment levels.  There are 3 components to the offer:

• Stimulating Business Innovation
• Growth Fund
• Growth Expertise

R&D Offer

The R&D funding supports market-led innovation in manufacturing and services companies. The offer has five elements designed to support manufacturing and services companies;

Stimulating Research & Innovation

Aimed at companies that are new to product, process and service development activities, these financial supports, including the R&D Stimulation Grant, allow companies to explore how research & innovation can drive their future development.

R&D Fund: Small Projects

The R&D Fund: Small Projects is a provision under the R&D Fund to support product, process or service project R&D where the expenditure amount is less than €150,000.  This may be companies undertaking R&D for the first time or companies progressing R&D activity in the business.

The R&D Fund
Supporting innovation in services, products and processes.
Companies that are ready to progress to larger projects or want to set their own research agenda can apply to Enterprise Ireland’s R&D fund which supports market-led innovation in manufacturing and services companies.
Collaboration
Companies can also get funding for collaborative research projects with other companies.
Innovation Expertise
In addition to the financial supports outlined above, companies can avail of the guidance and expertise of a team of professionals who are experts in building research projects, innovation management and creating value from intellectual property.

Funding for company expansion
Support for activities outlined in an expanding company’s business plan, e.g. investment in capital equipment, job creation, recruitment of key managers, training/management development and R&D.

Last updated 7/5/10 from EI website. Best visit EI website for most up to date information.

Definition of an SME?

A Small Enterprise is defined as :
an enterprise that has fewer than 50 employees and has either an annual turnover and/or an annual Balance Sheet total not exceeding €10m

A Medium Sized Enterprise is defined as:
an enterprise that has between 50 employees and 249 employees and has either an annual turnover not exceeding €50m or an annual Balance Sheet total not exceeding €43m

Visit EI website for further definition.

City Enterprise Boards

Would you know how or where to avail of capital, employment or feasibility grants awarded by various county and city Enterprise Boards? This site gives you all this information, plus the amounts you may qualify for. In a country addicted to grants and subsidies, this is a popular website for small businesses with 10 or less employees. www.Enterpriseboards.ie

A revised suite of financial supports for the Boards was approved by the Tánaiste recently and replace the existing Capital, Employment and Feasibility Grants being operated by the County & City Enterprise Boards with effect from 2nd November 2009. The new financial supports are as follows;

Priming Grants – for sole traders, partnerships, community or limited companies that fulfill the following criteria

• Located within the CEB’s geographic area;
• A business which on growth may or may not fit the Enterprise Ireland portfolio;
• A business employing up to 10 employees
• A Manufacturing or Internationally traded services business
• A Domestically traded Service business with the potential to trade internationally.
• A domestically traded services being established by a female returning to the workforce or unemployed persons where the potential for deadweight and displacement does not exist”.

Eligible clients may be awarded a Priming Grant within the first eighteen months of setting up the business. The maximum Priming Grant payable shall be 50% of the investment or €150,000 whichever is the lesser. Grants over €80,000 and up to €150,000 shall be the exception and shall only apply in the case of projects that clearly demonstrate a potential to graduate to Enterprise Ireland and/or to export internationally. In all other cases, the maximum grant shall be 50% of the investment or €80,000 whichever is the lesser. Subject to the 50% limit, a maximum grant of €15,000 per full time job created shall apply in respect of any employment support granted.

Business Expansion Grants
- may be awarded to businesses

• located within the CEB’s geographic area;
• A business, which, on growth, may or may not have the capacity to fit the enterprise Ireland portfolio
• A business employing up to 10 employees
• A Manufacturing or Internationally traded service business
• A Domestically traded Service business with the potential to trade internationally.

The maximum Business Expansion Grant payable shall be 50% of the investment or €150,000 whichever is the lesser. Grants over €80,000 and up to €150,000 shall be the exception and shall only apply in the case of projects that clearly demonstrate a potential to graduate to Enterprise Ireland and/or to export internationally. In all other cases, the maximum grant shall be 50% of the investment or €80,000 whichever is the lesser. Subject to the 50% limit, a maximum grant of €15,000 per full time job created shall apply in respect of any employment support granted. A business that had availed of a Priming Grant will be ineligible to apply for a Business Expansion grant until 18 months after approval/drawdown date of Priming Grant whichever is the later.

Feasibility Grants.
The maximum Feasibility / Innovation Grant payable for the S&E Region shall be 50% of the investment or €20,000 whichever is the lesser. The maximum Feasibility / Innovation Grant payable for the BMW Region shall be 60% of the investment or €20,000 whichever is the lesser.

Information from www.Enterpriseboards.ie as of 7/5/10. Visit site for most up to date information.