Enterprise Ireland Competitive Feasibility Fund Applications
Enterprise Ireland are currently accepting applications for the Competitive Feasibility Fund in the Western Region of Ireland.
Enterprise Ireland are currently accepting applications for the Competitive Feasibility Fund in the West Region. The purpose of the fund is to assist start-ups to investigate the competitive viability of new business propositions. The fund is open to new businesses in Galway, Mayo or Roscommon.
EI are hoping to support businesses that can develop scalable tech, products or services for the world market, not just domestic markets. Under the criteria listed by Enterprise Ireland, it is noted that the successful projects will have the potential to achieve a minimum sales growth of €1 million, and to employ 10 or more people within four years.
The Purpose of the Grant
This grant will enable the successful applicants, and EI, to reach conclusions regarding the projects feasibility, and to plan the financial path for the business. It will help the successful applicants to establish the necessary grounding to achieve success on a worldwide scale.
Who is the grant open to?
The fund is open to individuals, early-stage companies and prospective businesses involved in the delivery of international traded services or products.
Companies applicable to this grant include: Internet based companies, Games Developers, App Developers, Food and Beverage manufacturers, Medical Device Manufacturers and so on.
How much is the Grant?
The total fund available is €200,000 with maximum funding per project being €20, 000.
EI have asked that only companies that meet the following Criteria apply for the fund:
- submit their application no later than 3 p.m. on Tuesday 20th October 2015;
- are located in the West Region comprising counties Galway, Mayo & Roscommon;
- are incorporated for less than 3 years on 20th October 2015;
- are a manufacturing or an internationally traded services business start-up;*
- are not involved in activities that fall within gambling or “gaming” as defined in the Gaming & Lotteries Act 1956;
- are not directly or indirectly, by way of funding or shareholding, be covered by Articles 1 and 2 of the European Council decision, (2014/145/CFSP) of 17 March 2014, and subsequent Regulations (960/2014, 1290/2014 and 833/2014) concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine.
Visit the Enterprise Ireland website for more information.