What is the Feasibility study/innovation grant ?
The aim of the High Potential Start-Up (HPSU) 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 objective of the study is to provide the necessary information to enable the promoter (and Enterprise Ireland) to reach firm conclusions regarding the project’s viability and set out investor ready plans and financials associated with developing and commercialising your innovative product or service on international markets.
Feasibility study/innovation grant may be awarded to assist the promoter with researching market demand for a product or service and examining its sustainability. It may cover the costs of market research, product development and other kinds of innovation. It may include assistance with innovation including specific consultancy requirements, hiring of expertise, private specialists, design, patent costs, and prototype development. Expenditure may be considered under the following headings:
- Innovation Costs
- Own Labour Research
- Consultancy Costs
- Miscellaneous Costs
The maximum grant funding available for a High Potential Start-Up feasibility study is 50% of eligible expenditures. The maximum level of grant funding currently available is €15,000.
- For example, if your feasibility study costs €30,000, Enterprise Ireland can grant aid a maximum of €15,000. If your feasibility study expenditure is €10,000, the Enterprise Ireland grant would be a maximum of €5,000.
Applications are considered on a case-by-case basis and the level of funding will be determined following assessment of;
(a) the merits of providing grant support to the activity set out in the application.
(b) the need for financial support
(c) previous funding provided to the company.
(d) potential for employment and sales growth
