Ireland takes pride in being a nation of innovators. We recognise the critical role innovation plays in driving business success, particularly within the SME sector. It acts as both a safeguard during challenging times and a catalyst for long-term growth and competitiveness.
Innovation has a proven track record of enhancing company performance. That’s why Enterprise Ireland offers a variety of innovation funding supports to help Irish businesses develop fresh ideas and solve complex problems.
Each support is specifically designed to meet the practical needs of industry. Whether you’re an start up, SME or large company, there are tailored options available. Understanding these supports is the first step towards advancing your business to the next level.
Enterprise Ireland Innovation Vouchers
The starting point in funding for many Irish SMEs is the Enterprise Ireland Innovation Voucher. In today’s fast-paced technological landscape, SMEs often find themselves at a disadvantage when it comes to innovation. Challenges such as financial constraints, managing people, time pressures and limited access to technology can all make it difficult to pursue innovative projects. The Enterprise Ireland Innovation Voucher is designed to help, offering SMEs the funding and support they need to take the first step on their innovation journey.
Developed to build links between Ireland’s public knowledge providers (i.e. higher education institutes, public research bodies) and small Irish businesses, Innovation Vouchers worth €10,000 are available to assist a company or companies to explore a business opportunity or problem with a registered knowledge provider.
Qualifying companies are: small and medium-sized limited companies registered with the CRO in Ireland. You do not have to be a client of Enterprise Ireland to apply.
Innovation Vouchers are for: advice and expertise from knowledge providers such as the Technology Gateway network. There are some eligibility criteria, so it’s worth having a chat with the Technology Gateway team before applying. They will guide you in the right direction and help you with the application process. A maximum of four vouchers are now available, one of which must be a 50-50 co-funded Fast Track voucher. Innovation Vouchers are exclusive of VAT, so you will be responsible for the VAT portion of the final cost.
Enterprise Ireland Innovation Partnership Programme – Project Feasibility Study
The Project Feasibility Study is not a standalone, discrete piece of research. It is intended to provide a ‘stepping stone’ to enable researchers and third-level institutions to become involved in full Innovation Partnership projects with industrial partners. An open call programme operates, with monthly approvals. The maximum grant awarded is €9,000.
Qualifying companies are: manufacturing, processing and internationally traded service companies, with an operating base in the Irish Republic, collaborating with eligible third-level institutions. Multi-partner consortiums are welcome.
Project Feasibility Study can be used for: projects in science and engineering disciplines including environmental sciences, energy efficient technologies, construction technologies, as well as internationally traded service industries. The focus should be on a new product or process and/or services development. Project duration is limited to no more than six calendar months from the agreed start date.
Enterprise Ireland Innovation Partnership Programme
The Innovation Partnership Programme encourages companies to work with research institutes resulting in mutually beneficial co-operation and interaction.
Qualifying companies are: manufacturing or internationally traded services company with an operating base in the Republic of Ireland, collaborating with one or more research institutes, also based in the Republic of Ireland. The company must be a registered client of one of the following state development agencies: Enterprise Ireland, IDA Ireland, Údarás na Gaeltachta, Local Enterprise Offices.
The Innovation Partnership Programme is for: developing new and improved products, processes, services, and generate new knowledge and know-how. Grants are up to 80% towards eligible costs of the research project. All Innovation Partnership projects require the company partner to provide a minimum cash contribution of 20% of the total project cost. In all cases, the company partner must have the resources to contribute its share of the funding for the research and to fund the commercialisation of the research, when completed.
Funding from Enterprise Ireland will normally not exceed €200,000.
Have questions or need guidance?
Get in touch today to find out how Enterprise Ireland Innovation funding can help your business take the next step.