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What ‘grants’ and other supports apply to my business
 

What ‘grants’ and other supports apply to my business

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If you have ever wondered what supports you and your startup business can and should apply for in Ireland, this set of slides may be of interest

If you have ever wondered what supports you and your startup business can and should apply for in Ireland, this set of slides may be of interest

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    What ‘grants’ and other supports apply to my business What ‘grants’ and other supports apply to my business Presentation Transcript

    • What ‘grants’ and othersupports can startupbusiness promotersavail of from enterprisesupport agencies inIreland?
    • If you ever wonderedWhat assistance can: Enterprise Ireland, theEnterprise Boards, Institutes of Technology,LEADER, the various Innovation and CommunityEnterprise Centres, Revenue Commissioners,Forfas, Social Entrepreneurs Ireland, BordIascaigh Mhara, Halo Business Angel Partnership,Microfinance Ireland, IDA Ireland, MarketingCentre for Small Business, Solas (FAS), Bord Bia,and Teagasc – offer my start up business?
    • The next slideMight enlighten you as to what organisation youshould talk to and when… And this slidedeckShould provide a snapshot of what eachorganisation focuses on….
    • Greater Risk/ Investment ‘Supports’ For My Startup International Market required Orientation
    • Sources of FinanceIf business needs an initial injection of capital:1. Personal Savings2. Family & Friends3. Suppliers4. Financial Institutions 1. Loans, overdrafts, lines of credit 2. Hire Purchase5. Enterprise Agencies
    • Government Strategyhttp://www.enterprise.gov.ie/Publications/Financial-Support-for-Irish-Business.pdf?goback=.gde_1761157_member_137466210
    • Please forgive the obvious generalisations overthe next 3 slides
    • Where to start?• Local Development Partnership • Short Term Enterprise Allowance• Enterprise Boards • Leader – Training – Training – Financial Supports – Financial Supports • Feasibility • Feasibility • Capital Grants • Priming Grant (to – Mentoring include employment) – Mentoring
    • Plus• Networking (Open Coffee)• Community Enterprise Centres• Micro Finance Ireland• Business Awards• Small Business Can.ie• Social Entrepreneurs Ireland• Franchises• Bord Bia, Teagasc, Bord Iascaigh Mhara and/or Údaras if these apply.And talk to other Business People – the goodwill for startups is amazing!
    • International Market (Technology/Knowledge) Orientation Business Concept with Growth When More Established Potential • Enterprise Ireland• On Campus Innovation Centres – – Innovation Voucher Universities and IoTs – HPSU Investment – New Frontiers – Competitive Start Fund – NDRC Launchpad – International Offices – Get Export Ready (FirstFlight)• Business Innovation Centres – iGAP (BICs) – International Selling Programme• Microsoft BizSpark Programme – Going Global Fund • Halo Business Angel Partnership • Seed Capital Relief • Business Expansion Scheme ** • InterTrade Ireland Seedcorn Competition
    • Enterprise Agency SupportsTHE DETAIL
    • Don’t forget the Soft Supports
    • City & County Enterprise Boards• CEBs provide direct grant-support • For sole traders, partnerships, community or limited companies that fulfil the to new and existing enterprises following criteria: and promote entrepreneurship – Located within the CEB’s geographic• Focus on commercial micro area – A business which on growth may or enterprises may not fit the Enterprise Ireland – Advice portfolio – A business employing up to 10 – Mentoring employees – Grants – A Manufacturing or Internationally traded services business (75% of – Refundable Aid trading income generated – Supports for Training & internationally) Growth – A Domestically traded Service business with the potential to trade internationally – A domestically traded service being established by a female returning to the workforce or unemployed persons
    • CEBs – Priming Grants• The first eighteen months of setting up the business.• The maximum Priming Grant payable shall be 50% of the investment or €150,000 whichever is the lesser.• Grants over €80,000 and up to €150,000 shall be the exception and shall only apply in the case of projects that clearly demonstrate a potential to graduate to Enterprise Ireland and/or to export internationally.• Key issue is Displacement
    • CEBs – Business Expansion Grants• The maximum Business Expansion Grant payable shall be 50% of the investment or €150,000 whichever is the lesser.• Grants over €80,000 and up to €150,000 shall be the exception and shall only apply in the case of projects that clearly demonstrate a potential to graduate to Enterprise Ireland and/or to export internationally.• In all other cases, the maximum grant shall be 50% of the investment or €80,000 whichever is the lesser. Subject to the 50% limit, a maximum grant of €15,000 per full time job created shall apply in respect of any employment support granted.• A business that had availed of a Priming Grant will be ineligible to apply for a Business Expansion grant until 18 months after approval/drawdown date of Priming Grant whichever is the later.
    • CEBs – Feasibility Grants• The maximum Feasibility / Innovation Grant payable for the BMW Region shall be 60% of the investment or €20,000 whichever is the lesser.• The maximum Feasibility/ Innovation Grant payable for the S&E region shall be 50% of the investment or €20,000 whichever is the lesser To be eligible for a Feasibility/Innovation Grant, you must have applied to Enterprise Ireland for an Innovation Voucher. A letter or email from Enterprise Ireland indicating refusal of Innovation Voucher is required with the application. Limerick County Enterprise Board
    • Amount of Grant Aid• Overall the cumulative level of grants to a micro enterprise must not exceed €150,000 over a three year period. Refundable Aid + Equity Investment• May be provided.• Refundable Aid to be repaid over years 3, 4 and 5 at 3% interest rate per annum 17
    • Enterprise Ireland• Supports for Early Stage • High Potential Start Companies Up (HPSU) – New Frontiers (IoTs) • Introducing a new or innovative – HPSU Investment product or service to international markets. – Mentors & Strategic Consultancy • Involved in manufacturing or international trading firms. – Information Library • Capable of creating 10 jobs in – FirstFlight Ireland and realising exports of €1 million within three to four – Incubation Centres years of starting up. – Innovation Vouchers • Led by an experienced – Competitive Start Fund management team. – iGAP • Headquartered and controlled in Ireland.
    • Sectors and Markets• Sectors – Food and Retail – Cleantech, Industrial and Life Sciences – Software, Services and Emerging Sectors• Markets – Existing – Emerging • Asia/Brazil/Seoul/Shanghai
    • New Frontiers• A national programme overseen by Enterprise Ireland to promote technology and knowledge led start up businesses• Delivered by Incubation Centres attached to Institutes of Technology• http://www.enterprise-ireland.com/newfrontiers
    • Get Export ReadyGet EXPORT Ready offers a systematic approach tailored to helping companiesresearch, prepare and develop an export strategy including:First Flight One to One Assessment• Introductory workshops: Full day workshop including advice from Enterprise Ireland overseas Market Advisers, case studies from experienced exporters, market relevant topics and information on the full range of Enterprise Ireland supports.• Access to business intelligence: First Flight participants can access general and premium market information and advice (including information on markets, technologies, sectors and competitors) via our client Information Centre.• Appointment of a Mentor: Participants can apply for a Mentor to assist in undertaking an Export Readiness Assessment and the development and implementation of a First Flight Action Plan.• Advice on applying for other Enterprise Ireland supports for export development.
    • Innovation Vouchers Initiative• Aims to Build Links between Small Businesses and Knowledge Providers• Only applies to companies• Voucher (€5,000) can be exchanged for Advice and Expertise from the Knowledge Providers• Projects: • Require Innovative Solution • Provide Additional Value for the Business • Have On-going Benefits  Universities  Institutes of Technology  State Research Agencies: e.g.Teagasc www.innovationvouchers.ie
    • What can the Vouchers be used for?Any kind of innovation such as:• New Product Design / Development• New or Improved Production Process• New business model development• New service delivery and customer interface• New service development• Tailored training in innovation management• Innovation / technology auditKnowledge of:• Efficiency audits, process change• Supply chain management and logistics• Product and service testing and economic impact assessment
    • The ProcessApplication Phase Simple Form – 200 Words on the “Question the Enterprise Wants to be Addressed” Review of Applications by Enterprise Ireland Voucher Issued Project Execution Phase  Agreement Between Enterprise and Knowledge Provider on Project Details  Work Undertaken: Company Invoiced  Knowledge Provider Refunded by Enterprise Ireland
    • Competitive Start Fund• €50,000 for a 10% ordinary equity stake in the start-up company.• Early stage companies, who meet the eligibility criteria, and who are active in the ICT & Industrial sectors including the following subsectors: Internet, Games, https://www.enterprise- Apps, Mobile, SaaS, Cloud ireland.com/en/funding- Computing, Enterprise Software, supports/Company/HPSU- Lifesciences, Cleantech and Funding/Competitive-Start- Industrial Products. Fund-CSF-.html
    • Seed Capital Relief• A financing option for start up companies• For each of the last six years, you can claim tax paid on your first €100,000 of income in each year if you invest in the share capital of a new qualifying company
    • Employment and Investment Incentive Scheme (EII)• The EII has replaced Business Expansion Scheme and provides tax relief for investment in certain corporate trades• Companies can raise €10,000,000 subject to a maximum of €2,500,000 in any one 12 month period from groups of investors• The scheme allows an individual investor to obtain income tax relief on investments up to a maximum of €150,000 per annum in each tax year up to 2013• Companies engaged in land development, operation and management of Nursing homes, financial activities and professional service Companies are still excluded• See: http://www.enterprise.gov.ie/Publications/Financial-Support-for- Irish-Business.pdf?goback=.gde_1761157_member_137466210
    • LEADER• Rural Development Programme (LEADER) 2007 – 2013• Individuals, Rural Enterprise, Farm Families – Farm Diversification into non-agricultural activities – Support for the creation & development of micro- enterprises – Encouragement & development of tourism activities
    • Business Creation and DevelopmentThe focus of the measure is to expand employment opportunities inrural areas through the establishment of micro enterprises.• Development of innovative products and activities in East Galway• Environmentally friendly initiatives/ alternative energy• Artisan food production• Innovative Forestry Initiatives• Information and communication technology (ICT)• Small Scale Research Analysis DevelopmentActivities that are not eligible for grant aid include:• Manufacturing and services sector dealt with by County & City Enterprise Boards.
    • Grant rates and ceilings• Capital and other projects to Be familiar with: include tourist • eligible and ineligible accommodation - funding of expenditure up to 75% is available for • Approval Process/ Application eligible projects, with a stages maximum of up to €150,000.• Analysis and development • Support documentation projects may receive 75% with required – to include a maximum grant of €30,000. quotations• Training – 100% • Payment on completion – tax affairs in order – clawback (5 years) • De Minimis Rule applies – overall limit of €200,000 over any 3 year period from all grant giving agencies
    • When applying for Enterprise Agency Support• You need to take time to find out what grant schemes you may be eligible for and the criteria that apply.• There is no such thing as free money and your application will require anywhere from a few hours to several days or even weeks for the bigger schemes.
    • This presentation was uploaded to slideshare by Donncha Hughes in February 2013 donncha@startuphughes.com www.startuphughes.com