Increasing the competitiveness of Small to Medium Enterprises (SMEs)  through business innovation

Aim of Growth Fund
What costs are eligible?
Maximum Support Limits
Do I qualify?
How do I apply?
Where can I get more information?
Growth Fund at a glance
Frequently Asked Questions (FAQs)

Aim of Growth Fund

Innovating to improve competitiveness has become a priority in the face of growing international market pressure.  The Growth Fund is designed to assist SME clients of Enterprise Ireland to achieve greater competitiveness by improving their export potential.  This will be achieved by increasing both their gross output and gross productivity, while also providing new employment or maintaining existing employment levels.

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What costs are eligible?

Activities that will lead to a sustainable improvement in productivity within the company can be supported under this competitive fund.  These include:

• capital investment
• technology acquisition
• recruitment of key managers
• consultancy to assist with the implementation of the Growth Fund proposal 
• management development and
• staff training

Applicant companies  are encouraged to discuss their application with their Development Adviser (DA) and may, following consultation with their DA, apply for a Strategic Consultancy Grant   which could provide up to 50% funding towards the cost of a consultant to assess their requirements under the Growth Fund and to assist with the preparation of an application.
 
In the case of successful applicants, only eligible expenditure incurred from after the call close date for which the application is submitted will be considered for funding by the approval committee for the Growth Fund. 

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Maximum Support Limits

Where a company applies for two categories within one project, the total available funding from the Growth Fund will be €450,000, of which the maximum for capital & technology acquisition is €300,000.

Download Growth Funding Support Limits Summary Table for SMEs (MS Word Fromat; Size: 55KB) Date published 22 June 2009

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Do I qualify?

The Growth Fund is open to existing Enterprise Ireland clients who:

• are SMEs who meet the requirements of the Industrial Development Act 1986 as amended and the EU Commission definition of either a small or medium enterprise within the meaning of Regulation (EC) No 70/2001, or any regulation replacing that regulation;
  
• have been trading (i.e. generating sales) for at least 5 years before the tranche date of application.  (This 5 year period can include the time during which a business was trading prior to being acquired by the applicant).

Ineligible companies include:

Large companies (i.e. non-SMEs). For such companies, they should consult Enterprise Ireland through their Development Advisor to explore what supports may be available.

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How do I apply?

The Growth Fund  is currently closed to new applications, pending a budget review.

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Where can I get more information?

In the first instance, companies are encouraged to contact their Development Adviser or Technologist for information.

Workplace Innovation Fund (WIF) is a key component of the Growth Fund.  This fund is a joint initiative between Enterprise Ireland the National Centre for Partnership and Performance (NCPP).

The aim of WIF is to support SMEs that are committed to workplace innovation and developing the role of employee participation and involvement as enablers of change and productivity improvements.

Growth Fund At A Glance

Further information is available for reference by

Growth Fund Reference Document (MS Word format; Size: 169KB) Date published June 2009

Growth Fund Reference Document

If you are not already a client of Enterprise Ireland, please contact your nearest Enterprise Ireland regional office. Otherwise contact:
 

Dermot Murphy Tel: + 353 1 727 2732

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