There are two principal funding sources for technology acquisition:
- Productivity Improvement Fund-this fund was launched in 2005 for client companies of Enterprise Ireland. It is designed to help companies improve productivity so that they can increase their exports. The fund covers technology acquisition, capital equipment and training. The technology acquisition element (for which the grant can be up to €200,000) can include the purchase of a license for a new product to expand a product range, or acquiring the rights to a process technology such as a new packaging technique. Further information on www.enterprise-ireland.com/grow/finance
- RTI Grants Scheme-this is the principal R&D funding scheme for companies. It funds R&D project costs including salaries, materials, capital equipment, facilities, travel and consultancy. It is open to all manufacturing and internationally traded services companies. In many cases a company's R&D project will include a piece of technology that is better licensed-in than developed from scratch. In these cases license costs can be covered under RTI, up to 50% of the value of the R&D project. See RTI Company Guidelines for Projects in excess of €95,200, appendix B, page 9. Further information on RTI Grants Scheme
A further funding mechanism which applies to cross-border licensing is the Innova scheme from InterTradeIreland, for technology transfer between companies in the Republic of Ireland and Northern Ireland. Further information on www.intertradeireland.com and click "select a project" on the right of the home page, then scroll down to Innova.
For assistance with using any of the financial supports, contact:
- TechSearch at:
Email:techsearch@enterprise-ireland.com
Tel:+(353 1) 808 2587
- Your Development Advisor or Project Executive in the relevant Agency
- Your Technology consultant