Grant Funding Examples
While there are a host of grants available to support your RD&I efforts, we have included a subset of the key options available from EI and IDA below in order to give an idea of the breadth of supports available.
EI is a State agency responsible for the development and growth of Irish enterprises in global markets. RD&I funding supports from EI are closely aligned to a business’s stage of development, with their funding options reflecting this. A selection of some of the main RD&I funding supports available are set out below:
Innovation Vouchers, worth €5,000, are available to incentivize early stage companies to collaborate with registered colleges or knowledge providers in Ireland and Northern Ireland. The key criteria are that the company should be exploring new business opportunities or seeking to solve a technical problem(s).
High Potential Start-Up (“HPSU”) Feasibility Study Grant
The aim of this feasibility grant is to assist an early stage company or individual entrepreneur to investigate the viability of a new export orientated business or proposition. The grant funding available is up to 50% of eligible expenditure, capped at a total grant amount of €15,000.
Exploring Innovation Grant
This exploration grant can be used to investigate the feasibility of developing a new product, process, technology or service offering. The grant funding available is up to 50% of eligible expenditure, capped at a total grant amount of €35,000.
In-house RD&I Fund
This fund is aimed at companies developing new or substantially improved products, services or processes. Projects may range from solving technical challenges to innovations in services delivery or business models. Companies can access up to 50% funding, where the grant requested is greater than €150,000 (total project cost greater than €300,000).
The Agile Innovation Fund
This fund is similar to the RD&I fund in that it aims to support developing new or substantially improved products, services or processes. It is called the Agile Innovation Fund as it offers faster turnaround times from application to approval than the RD&I funds. It allows companies in sectors with rapid design cycles to keep their advantage by offering an online application and fast-track approval process, so you can quickly engage in the innovation activity necessary to make your international growth ambitions reality. Companies can access up to 50% funding, where the grant requested is less than €150,000 (total project cost less than €300,000).
Innovation Partnership Grant Programme
This programme offer's financial support to companies who engage in collaborative research projects with Irish Universities and Institutes of Technology. The proposal process and administration of the project is managed by the participating third level research institution. This programme provides grants of up to 80% towards eligible costs of the research project. Funding from Enterprise Ireland will normally not exceed €200,000.
IDA Ireland is State agency responsible for the attraction and retention of inward Foreign Direct Investment (“FDI”) into Ireland. Grants and support are available to existing and potential clients of IDA Ireland. They are dependent on company size, category, activity and its potential economic impact. Below outlines a selection of the main R&D funding supports available:
Innovation Vouchers, worth €5,000, are available to assist IDA client SME companies to collaborate with a registered college or knowledge provider in Ireland and Northern Ireland to explore a business opportunity or solve a technical problem.
RD&I Feasibility Study Grant
This grant can be used to investigate the feasibility of developing a new product, process, technology or service offering. This grant is designed to support exploratory work required to develop and justify longer term and more sustainable RD&I programmes within IDA client companies. It provides grants up to a max of €250,000 or 50% of eligible expenditure.
RD&I Grant Aid
The RD&I Grant Aid is designed to support extremely large and technically ambitious R&D projects. RD&I Grant Aid is available for current and potential IDA clients. The level of funding is dependent on an independent technical assessment and assessment of the strategic and commercial importance of the project.
Do you have an RD&I grant funding related query?
As the above is only an indicative list of grant funding sources / options available, should you wish to discuss these, or any other RD&I grant funding supports in more detail please contact us here.