Written answers
Thursday, 24 May 2018
Department of Jobs, Enterprise and Innovation
Enterprise Ireland Funding
Billy Kelleher (Cork North Central, Fianna Fail)
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101. To ask the Minister for Jobs, Enterprise and Innovation the number of applicants that received funding under Enterprise Ireland’s high potential start-up feasibility grant in each of the years 2014 to 2017 and to date in 2018, by county; the number that received funding by firm size of less than ten, 11 to 49, 50 to 249 and more than 250 employees; and the amount paid out by county and by firm size in tabular form. [22974/18]
Heather Humphreys (Cavan-Monaghan, Fine Gael)
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HPSUs are companies which have the potential to develop an innovative product or service suitable for export, and which have the potential to create 10 jobs and €1m in sales within 3 to 4 years of establishment. In 2017 Enterprise Ireland supported 90 HPSUs with an equity investment.
Enterprise Ireland’s HPSU Team works with start-up companies to ensure that they can avail of suitable supports to enable them to realise their potential. One of the financial supports that is available to companies is the HPSU Feasibility Grant.
The HPSU Feasibility Grant assists a new start-up company or individual entrepreneur to examine the viability of a new export oriented business or proposition. The objective of the study is to provide the necessary information to enable the promoter to reach firm conclusions regarding the project's viability, and set out investor ready plans associated with developing and commercialising the product or service.
The following tables present an overview of (1) the number of companies in receipt of payments over the period on question; (2)the number of companies in receipt of payments by company size; and (3) the number of companies in receipt of payments by company size broken down by county.
Table 1: Number of Companies In Receipt Of Payments 2014-21.05.2018
HPSU Feasibility Grant: Number of Enterprise Ireland supported companies in receipt of payments under this grant by County/Year*
Client County | 2018 (21.05.18) | 2017 | 2016 | 2015 | 2014 | 2014- 21.05.18 Total |
---|---|---|---|---|---|---|
Carlow | <5 | <5 | <5 | |||
Cavan | <5 | <5 | ||||
Clare | <5 | <5 | <5 | <5 | 7 | |
Cork | <5 | 7 | 11 | 19 | 16 | 41 |
Donegal | <5 | <5 | <5 | <5 | ||
Dublin | 15 | 51 | 88 | 80 | 116 | 272 |
Galway | <5 | 8 | 13 | 12 | 26 | |
Kerry | <5 | <5 | <5 | <5 | <5 | 10 |
Kildare | <5 | <5 | <5 | 8 | 14 | |
Kilkenny | <5 | <5 | <5 | <5 | 5 | |
Laois | <5 | <5 | <5 | 6 | ||
Leitrim | <5 | <5 | ||||
Limerick | <5 | <5 | <5 | <5 | <5 | 12 |
Longford | <5 | <5 | <5 | <5 | ||
Louth | <5 | <5 | <5 | <5 | 10 | |
Mayo | <5 | <5 | <5 | <5 | 9 | 10 |
Meath | <5 | <5 | <5 | <5 | <5 | 7 |
Monaghan | <5 | <5 | <5 | <5 | ||
Offaly | <5 | <5 | <5 | |||
Roscommon | <5 | <5 | ||||
Sligo | <5 | <5 | <5 | 5 | ||
Tipperary North | <5 | <5 | <5 | <5 | ||
Tipperary South | <5 | <5 | ||||
Waterford | <5 | <5 | <5 | 6 | ||
Westmeath | <5 | <5 | <5 | <5 | 6 | |
Wexford | <5 | <5 | ||||
Wicklow | <5 | <5 | <5 | <5 | <5 | 12 |
Grand Total | 31 | 86 | 137 | 153 | 202 | 473 |
Table 2: The Number of Companies In Receipt Of Payments By Company Size
HPSU Feasibility Grant (2014- 21.05.18): Number of Enterprise Ireland supported Companies in receipt of Payments by company size (All counties)
Company Size | Total |
---|---|
over 50 | 7 |
Less than 11 | 391 |
Between 11-49 | 75 |
Grand Total | 473 |
Table 3: Number of Companies in Receipt Of Payments By Company Size Broken Down By County
HPSU Feasibility Grant (2014- 21.05.18): Number of Enterprise Ireland supported companies in receipt of payments under this grant by company size and county
Client County | Company Size | Total |
---|---|---|
Carlow | Less than 11 | €17,665 |
Between 11-49 | €1,350 | |
Carlow Total | €19,015 | |
Cavan | Less than 11 | €6,331 |
Cavan Total | €6,331 | |
Clare | Between 11-49 | €24,846 |
Less than 11 | €71,765 | |
Between 11-49 | €10,750 | |
Clare Total | €107,361 | |
Cork | Over 250 | €3,000 |
Less than 11 | €336,583 | |
Between 11-49 | €162,790 | |
Cork Total | €502,373 | |
Donegal | Less than 11 | €33,268 |
Donegal Total | €33,268 | |
Dublin | Over 250 | €9,735 |
Between 11-49 | €18,386 | |
Less than 11 | €2,476,406 | |
Between 11-49 | €593,319 | |
Dublin Total | €3,097,845 | |
Galway | Less than 11 | €281,423 |
Between 11-49 | €60,301 | |
Galway Total | €341,724 | |
Kerry | Less than 11 | €128,749 |
Kerry Total | €128,749 | |
Kildare | Between 11-49 | €3,467 |
Less than 11 | €130,825 | |
Between 11-49 | €34,078 | |
Kildare Total | €168,371 | |
Kilkenny | Less than 11 | €28,641 |
Between 11-49 | €15,000 | |
Kilkenny Total | €43,641 | |
Laois | Less than 11 | €58,660 |
Laois Total | €58,660 | |
Leitrim | Less than 11 | €13,665 |
Leitrim Total | €13,665 | |
Limerick | Less than 11 | €85,246 |
Between 11-49 | €31,882 | |
Limerick Total | €117,129 | |
Longford | Less than 11 | €19,450 |
Between 11-49 | €13,367 | |
Longford Total | €32,817 | |
Louth | Less than 11 | €129,333 |
Louth Total | €129,333 | |
Mayo | Less than 11 | €158,262 |
Between 11-49 | €29,800 | |
Mayo Total | €188,063 | |
Meath | Less than 11 | €60,926 |
Between 11-49 | €6,799 | |
Meath Total | €67,725 | |
Monaghan | Less than 11 | €24,536 |
Between 11-49 | €7,492 | |
Monaghan Total | €32,028 | |
Offaly | Less than 11 | €13,296 |
Offaly Total | €13,296 | |
Roscommon | Less than 11 | €7,974 |
Roscommon Total | €7,974 | |
Sligo | Less than 11 | €35,523 |
Between 11-49 | €9,031 | |
Sligo Total | €44,554 | |
Tipperary North | Less than 11 | €27,174 |
Tipperary North Total | €27,174 | |
Tipperary South | Less than 11 | €10,317 |
Tipperary South Total | €10,317 | |
Waterford | Less than 11 | €43,259 |
Between 11-49 | €15,000 | |
Waterford Total | €58,259 | |
Westmeath | Less than 11 | €46,536 |
Westmeath Total | €46,536 | |
Wexford | Less than 11 | €1,862 |
Wexford Total | €1,862 | |
Wicklow | Between 11-49 | €15,000 |
Less than 11 | €115,847 | |
Wicklow Total | €130,847 | |
Grand Total | €5,428,916 |
Billy Kelleher (Cork North Central, Fianna Fail)
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102. To ask the Minister for Jobs, Enterprise and Innovation the number of applicants that received funding under Enterprise Ireland’s commercial case feasibility support in each of the years 2014 to 2017 and to date in 2018 by county; the number that received funding by firm size of less than 10, 11 to 49, 50 to 249 and more than 250 employees; and the amount paid out by county and by firm size in tabular form. [22975/18]
Heather Humphreys (Cavan-Monaghan, Fine Gael)
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The aim of the Commercialisation Fund is to improve the competitiveness of Irish industry. This is achieved through both the creation of technology based companies and through the development of licenses. The programme funds researchers in the higher education system to develop innovations at all stages of the commercial pipeline, to the point where they can be commercialised as new products, services and companies.
The Fund is available for projects that address a gap or need in the market by developing innovations that will ideally be ready for licensing to Irish industry, or may form the basis of a new start-within 5 years. Licenses developed may be accessed by companies in order to develop products, processes and services, in order to bring them to a point where they are ready for new domestic and international markets.
The Commercial Case Feasibility Support is a funding support which can be obtained by researchers, in partnership with their Technology Transfer or equivalent office, for a short Feasibility Project (up to 3 months) to scope and develop the commercial case for their innovation. Support is provided to assist the project team to:
- Perform Market analysis and validation
- Profile the competitor landscape
- Perform Patent landscaping and develop an IP strategy
- Investigate potential routes to exploitation to the economic benefit of Ireland
- Understand relevant regulatory issues or other barriers/hurdles to commercialisation
- Create a small demonstration or early prototype
The following table below outlines the number of projects that received funding under the Commercial Case Feasibility Support in each year by Institute and the associated payments in that year for 2014, 2015, 2016, 2017 and 2018.
Institute | No. of Projects 2014 | € Paid 2014 | No. of Projects 2015 | € Paid 2015 | No. of Projects 2016 | € Paid 2016 | No. of Projects 2017 | € Paid 2017 | No. of projects 2018 | € Paid 2018 |
---|---|---|---|---|---|---|---|---|---|---|
Dublin City University [DCU] | 9 | 61,110 | 8 | 120,081 | 9 | 123,502 | 10 | 91,996 | 2 | 23,043 |
Dublin Institute of Technology | 5 | 63,929 | 4 | 72,844 | 7 | 52,649 | 5 | 48,609 | 3 | 34,585 |
I.T. - Blanchardstown | 0 | 9,665 | 1 | 3,935 | ||||||
Institute of Technology Athlone | 6 | 24,624 | 2 | 35,958 | 2 | 52,170 | 3 | 21,456 | 3 | 16,650 |
Institute of Technology Carlow | 0 | 9,192 | 1 | 12,541 | 1 | 29,964 | 3 | 776 | ||
Institute of Technology Cork | 7 | 65,270 | 10 | 119,595 | 8 | 68,075 | 5 | 20,489 | 2 | 14,062 |
Institute of Technology Dundalk | 1 | 10,500 | ||||||||
Institute of Technology Galway-Mayo | 2 | 32,024 | 2 | 14,979 | 0 | 18,911 | 2 | 6,920 | ||
Institute of Technology Letterkenny | 1 | 10,500 | 2 | 21,000 | ||||||
Institute of Technology Limerick | 1 | 12,948 | 1 | 13,740 | 3 | 28,149 | 1 | 10,465 | ||
Institute of Technology Sligo | 1 | 13,263 | 1 | 10,500 | ||||||
Institute of Technology Tallaght | 1 | 10,950 | 0 | 10,080 | 2 | 27,720 | 1 | 4,444 | ||
Institute of Technology Tralee | 1 | 9,940 | 1 | 14,689 | 2 | 30,775 | ||||
Institute of Technology Waterford | 14 | 99,184 | 4 | 43,110 | 1 | 2,392 | 1 | 20,522 | 3 | 24,973 |
National College of Art and Design | 2 | 19,137 | 0 | 20,578 | 6 | 63,289 | 4 | 59,898 | ||
National Institute of Bioprocessing Research and Training | 1 | 15,000 | ||||||||
Royal College of Surgeons Ireland | 5 | 49,546 | 2 | 25,278 | 1 | 3,873 | 1 | 10,241 | 1 | 9,450 |
Teagasc | 0 | 8,651 | 1 | 3,707 | 1 | 10,350 | ||||
The National University of Ireland, Galway [NUIG] | 13 | 66,190 | 7 | 107,390 | 6 | 161,114 | 14 | 56,547 | 3 | 24,538 |
The National University of Ireland, Maynooth [Maynooth University] | 7 | 71,079 | 3 | 16,979 | 1 | 49,326 | 6 | 38,513 | 1 | 14,599 |
The University of Dublin, Trinity College [TCD] | 11 | 89,895 | 6 | 80,162 | 2 | 15,000 | 7 | 112,855 | 7 | 49,255 |
Tyndall National Institute | 2 | 23,923 | 0 | 4,140 | 1 | 19,950 | 1 | 8,494 | 2 | 17,675 |
University College Cork [UCC] | 6 | 46,225 | 7 | 79,572 | 6 | 83,375 | 7 | 60,397 | 1 | 2,244 |
University College Dublin [UCD] | 5 | 60,673 | 10 | 141,518 | 9 | 131,694 | 13 | 108,437 | 4 | 38,435 |
University of Limerick | 12 | 126,536 | 3 | 37,468 | 5 | 82,665 | 11 | 118,032 | 1 | 1,850 |
Billy Kelleher (Cork North Central, Fianna Fail)
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103. To ask the Minister for Jobs, Enterprise and Innovation the number of applicants that received funding under Enterprise Ireland’s agile innovation fund in each of the years 2014 to 2017 and to date in 2018 by county; the number that received funding by firm size of less than ten, 11 to 49, 50 to 249 and more than 250 employees; and the amount paid out by county and by firm size in tabular form. [22976/18]
Heather Humphreys (Cavan-Monaghan, Fine Gael)
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Enterprise Ireland supports companies across Ireland to start, innovate and remain competitive in international markets, now and into the future. Enterprise Ireland’s focus for 2018 is to help clients build on the strength of their 2017 performance by supporting them to innovate, be competitive and to diversify their global footprint - key attributes required to be resilient to economic shocks, such as Brexit.
Innovation is at the centre of Enterprise Ireland’s strategy, Build Scale, Expand Reach 2017 – 2020. Innovation enables companies to develop tailored products and services for global customers. It also enables companies to develop efficient processes to support their competitive offering. This support includes grant funding for companies.
Enterprise Ireland provides grant support for companies to carry out in-house research and development, and also to harness the knowledge and expertise of the Higher Education Sector.
In November 2017, Enterprise Ireland launched a new fast-track Agile Innovation Fund to give companies rapid access to innovation funding. This fund supports companies in sectors with rapid design cycles to maintain their technology position. The benefits of this grant are that it allows for a very simple application process and delivers a very fast response from application to approval. This fund allows companies to access up to 50% in support for product, process or service development projects up to a total cost of €300,000.
The Agile Innovation Fund has recently opened for applications for funding, which are currently being processed. To date nine companies have been approved funding under this initiative, although no payments have been made as yet. It is envisaged that grant approvals under this initiative will come online over the coming weeks.
Billy Kelleher (Cork North Central, Fianna Fail)
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104. To ask the Minister for Jobs, Enterprise and Innovation the number of applicants that received funding under Enterprise Ireland’s in-house research, development and innovation fund in each of the years 2014 to 2017 and to date in 2018 by county; the number that received funding by firm size of less than ten, 11 to 49, 50 to 249 and more than 250 employees; and the amount paid out by county and by firm size in tabular form. [22977/18]
Heather Humphreys (Cavan-Monaghan, Fine Gael)
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Enterprise Ireland supports companies across Ireland to start, innovate and remain competitive in international markets, now and into the future. Enterprise Ireland’s focus for 2018 is to help clients build on the strength of their 2017 performance by supporting them to innovate, be competitive and to diversify their global footprint - key attributes required to be resilient to economic shocks, such as Brexit.
Innovation is at the centre of Enterprise Ireland’s strategy, Build Scale, Expand Reach 2017 – 2020. Innovation enables companies to develop tailored products and services for global customers. It also enables companies to develop efficient processes to support their competitive positioning in global markets.
The number of companies by county and size in receipt of payments under Enterprise Ireland’s R&D fund is presented as follows.
Number of companies in receipt of Payments under Enterprise Ireland’s in-house R&D Fund by County/Year
County | 2018 | 2017 | 2016 | 2015 | 2014 | 2014 - 21.05.18 Total |
---|---|---|---|---|---|---|
Carlow | <5 | <5 | 5 | |||
Cavan | <5 | <5 | <5 | 6 | 4 | 13 |
Clare | <5 | 8 | 6 | 8 | 8 | 16 |
Cork | 7 | 17 | 19 | 16 | 20 | 45 |
Donegal | <5 | <5 | <5 | <5 | <5 | 6 |
Dublin | 19 | 54 | 61 | 68 | 81 | 168 |
Galway | <5 | 9 | 7 | 7 | 6 | 22 |
Kerry | <5 | <5 | <5 | <5 | <5 | 7 |
Kildare | <5 | <5 | 8 | 7 | 6 | 17 |
Kilkenny | <5 | <5 | <5 | <5 | 6 | |
Laois | <5 | <5 | <5 | <5 | <5 | 5 |
Leitrim | <5 | <5 | ||||
Limerick | <5 | 6 | 7 | 8 | 6 | 15 |
Longford | <5 | <5 | <5 | |||
Louth | <5 | 13 | 9 | 8 | 7 | 22 |
Mayo | <5 | <5 | <5 | <5 | 6 | |
Meath | <5 | <5 | 6 | 9 | 12 | |
Monaghan | <5 | 5 | <5 | 5 | <5 | 8 |
Offaly | <5 | <5 | <5 | <5 | ||
Overseas | <5 | <5 | <5 | <5 | <5 | |
Roscommon | <5 | <5 | <5 | |||
Sligo | <5 | <5 | <5 | |||
Tipperary North | <5 | <5 | <5 | <5 | <5 | |
Tipperary South | <5 | <5 | <5 | <5 | <5 | |
Waterford | <5 | <5 | <5 | <5 | <5 | <5 |
Westmeath | <5 | <5 | <5 | <5 | 5 | |
Wexford | <5 | <5 | <5 | <5 | <5 | 8 |
Wicklow | <5 | 9 | 7 | <5 | 6 | 17 |
Grand Total | 52 | 157 | 151 | 175 | 189 | 425 |
Number of companies in receipt of payments under Enterprise Ireland’s in-house R&D Fund by size (2014 - 21.05.18)
Payments by company size | All counties Total |
---|---|
Over 250 | 22 |
50 -249 | 136 |
Between 11-49 | 221 |
Less than 11 | 46 |
Grand Total | 425 |
Billy Kelleher (Cork North Central, Fianna Fail)
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105. To ask the Minister for Jobs, Enterprise and Innovation the number of applicants that received funding under Enterprise Ireland’s strategic consultancy grant in each of the years 2014 to 2017 and to date in 2018 by county; the number that received funding by firm size of less than ten, 11 to 49, 50 to 249 and more than 250 employees; and the amount paid out by county and by firm size in tabular form. [22978/18]
Heather Humphreys (Cavan-Monaghan, Fine Gael)
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Enterprise Ireland offers a range of financial and non-financial supports to client companies to enable them to withstand the challenges and avail of the opportunities presented by the current economic climate. One of these supports is the Strategic Consultancy Grant, which is only available to SMEs, in line with EU State Aid guidelines. The Grant supports the hiring of a strategic consultant to help the company develop and/or implement strategic initiatives which will help them to compete in international markets.
The following tables present an overview of (1) the number of strategic consultancy (assignments) over the period on question; (2)the number of companies in receipt of payments by company size; and (3) the number of companies in receipt of payments by company size broken down by county.
Table 1: Number of Strategic Consultancy (Assignments) Over the Period on Question
Strategic Consultancy (Assignment) No. of Company in receipt of Payments by County/Year*
County | 2018 (21.05.18) | 2017 | 2016 | 2015 | 2014 | 2014 - 2018 (21.05.18) Total |
---|---|---|---|---|---|---|
Carlow | <5 | <5 | <5 | |||
Cavan | <5 | <5 | <5 | <5 | <5 | |
Clare | <5 | <5 | <5 | 6 | ||
Cork | <5 | 5 | 9 | <5 | <5 | 20 |
Donegal | <5 | <5 | <5 | |||
Dublin | 5 | 13 | 13 | 12 | 15 | 50 |
Galway | <5 | <5 | <5 | 7 | ||
Kerry | <5 | <5 | <5 | <5 | ||
Kildare | <5 | <5 | <5 | <5 | ||
Kilkenny | <5 | <5 | ||||
Laois | <5 | <5 | <5 | <5 | ||
Leitrim | <5 | <5 | ||||
Limerick | <5 | <5 | <5 | <5 | 9 | |
Louth | <5 | <5 | <5 | <5 | 8 | |
Mayo | <5 | <5 | <5 | <5 | 6 | |
Meath | <5 | <5 | <5 | 5 | ||
Monaghan | <5 | <5 | <5 | <5 | 6 | |
Offaly | <5 | <5 | <5 | |||
Sligo | <5 | <5 | <5 | <5 | <5 | |
Tipperary North | <5 | <5 | <5 | |||
Tipperary South | <5 | <5 | ||||
Waterford | <5 | <5 | ||||
Westmeath | <5 | <5 | <5 | <5 | ||
Wexford | <5 | <5 | <5 | |||
Wicklow | 6 | <5 | <5 | <5 | 9 | |
Grand Total | 15 | 46 | 43 | 43 | 38 | 162 |
Table 2: Number of Companies in Receipt Of Payments By Company Size
Strategic Consultancy (Assignment) 2014 - 21.05.18 No. of Company in receipt of Payments by company employment (All counties)
Company size | Total |
---|---|
over 50 | 54 |
less than 11 | 4 |
Between 11-49 | 104 |
Grand Total | 162 |
Table 3: Number of Companies In Receipt Of Payments By Company Size Broken Down By County
Value of payments by County/Firm Size
Client County | company size | Total |
---|---|---|
Carlow | Over 50 | €19,500 |
Between 50 - 249 | €11,650 | |
Carlow Total | €31,150 | |
Cavan | Over 50 | €29,250 |
Between 50 - 249 | €17,000 | |
Cavan Total | €46,250 | |
Clare | Between 50 - 249 | €58,831 |
Clare Total | €58,831 | |
Cork | Over 50 | €54,975 |
Between 50 - 249 | €109,436 | |
Cork Total | €164,411 | |
Donegal | Over 50 | €12,500 |
Between 50 - 249 | €5,142 | |
Donegal Total | €17,642 | |
Dublin | Over 50 | €151,013 |
less than 11 | €19,000 | |
Between 50 - 249 | €364,092 | |
Dublin total | €534,105 | |
Galway | Over 50 | €12,125 |
Between 50 - 249 | €66,313 | |
Galway Total | €78,438 | |
Kerry | Over 50 | €15,425 |
Between 50 - 249 | €1,972 | |
Kerry Total | €17,397 | |
Kildare | Between 50 - 249 | €13,791 |
Kildare Total | €13,791 | |
Kilkenny | Between 50 - 249 | €7,423 |
Kilkenny Total | €7,423 | |
Laois | Between 50 - 249 | €41,975 |
Laois Total | €41,975 | |
Leitrim | Between 50 - 249 | €12,875 |
Leitrim Total | €12,875 | |
Limerick | Over 50 | €16,450 |
less than 11 | €15,000 | |
Between 50 - 249 | €49,100 | |
Limerick Total | €80,550 | |
Louth | Over 50 | €37,204 |
Between 50 - 249 | €49,675 | |
Louth Total | €86,879 | |
Mayo | Over 50 | €47,050 |
Between 50 - 249 | €19,610 | |
Mayo Total | €66,660 | |
Meath | Over 50 | €9,000 |
Between 50 - 249 | €42,401 | |
Meath Total | €51,401 | |
Monaghan | Over 50 | €47,425 |
less than 11 | €2,925 | |
Between 50 - 249 | €35,950 | |
Monaghan Total | €86,300 | |
Offaly | Between 50 - 249 | €14,350 |
Offaly Total | €14,350 | |
Sligo | Over 50 | €12,386 |
Between 50 - 249 | €21,672 | |
Sligo Total | €34,058 | |
Tipperary North | Over 50 | €39,650 |
Tipperary North Total | €39,650 | |
Tipperary South | Between 50 - 249 | €12,500 |
Tipperary South Total | €12,500 | |
Waterford | Between 50 - 249 | €10,328 |
Waterford Total | €10,328 | |
Westmeath | Over 50 | €17,399 |
Between 50 - 249 | €12,771 | |
Westmeath Total | €30,170 | |
Wexford | Between 50 - 249 | €17,400 |
Wexford Total | €17,400 | |
Wicklow | Over 50 | €28,950 |
Between 50 - 249 | €72,359 | |
Wicklow Total | €101,309 | |
Grand Total | €1,655,843 |
Billy Kelleher (Cork North Central, Fianna Fail)
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106. To ask the Minister for Jobs, Enterprise and Innovation the number of applicants that received funding under Enterprise Ireland’s market discovery fund in each of the years 2014 to 2017 and to date in 2018 by county; the number that received funding by firm size of less than ten, 11 to 49, 50 to 249 and more than 250 employees; and the amount paid out by county and by firm size in tabular form. [22979/18]
Heather Humphreys (Cavan-Monaghan, Fine Gael)
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The best way for Irish companies to withstand current global economic challenges is by diversifying their export footprint. One of the new supports that Enterprise Ireland has introduced to encourage companies to enter new markets is the Market Discovery Fund.
Launched in January 2018, the Market Discovery Fund aims to encourage companies to expand into new markets by helping with the costs of researching viable and sustainable market entry strategies.
The Fund provides support towards both internal and external costs incurred by companies when researching new markets for products and services. Eligible companies can receive support when they are looking at a new geographic market for an existing product/service, or when looking at exporting a new product/service to a market that they already do business in.
The Market Discovery Fund is available across three levels:
- Level 1: Grant up to €35K
- Level 2: Grant greater than €35K but less than €75K
- Level 3: Grant greater than €75K but less than €150K
The maximum funding is 50% of eligible expenditure up to a maximum grant of €150,000. Eligible expenditure includes, but is not limited to, salary support, consultancy costs, trade fair costs and foreign travel.
The Market Discovery Fund was launched in 2018, and has only been open for applications for a number of weeks. It is not possible, therefore, to provide data prior to this year. To date, fifteen Market Discovery Grants have been approved. As the fund is at such a nascent stage it is not yet possible to report on the geographic spread or take-up among different sized companies.
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