What is the Enterprise Ireland funded campus incubation centres?
The €12 million Powering the Regions: Enterprise Ireland funded campus incubation centres is open to not-for-profit and for-profit enterprise centres or Campus Incubation Centres. The terms and conditions of funding for both cohorts are the same. However, applications for funding from eligible for-profit enterprise centres will be subject to a competitive process for the award of funding of up to €2.5 million.
What are the benefits of locating in a Campus Incubator?
Benefits of basing your new company in a campus incubation centre include:
- Access to mentoring on key aspects of business development, such as market research and finance.
- A prestigious address with high quality office space.
- Proximity to research teams in the college and the use of R&D facilities on-campus.
- Peer-to-peer learning from other ambitious start-ups located in your incubation centre.
- Access to a pool of students for placements and recruitment.
Spending a couple of years in this environment may be precisely what your new company needs before you move it out, and on, to even greater success.
Where are the Incubation Centres Located?
There are Business Incubators located in all of the main colleges in Ireland.
We have also funded 6 state-of-the-art wet lab facilities in a number of bio-incubation spaces in Irish universities. Typical clients of bio-incubators include; spin-outs from universities and companies, entrepreneurs from Ireland and overseas and international companies that choose to locate in Ireland.
Eligible enterprise centres can apply for funding of a minimum amount of €10,000 and up to a maximum amount of €150,000. Funding will be administered in the form of grant aid of up to 80 per cent of eligible costs detailed in the Recovery Plan. Applicants for funding will need to demonstrate the ability to finance the balance of funding required to implement the Recovery Plan. The required balanced of funding can take the form of revenue generated through the centres core activities over the duration of the plan. Applicants will be required to demonstrate the ability to raise this funding as part of their application.