A High Potential Start-Up (HPSU) is defined as a start-up venture that is:
- Introducing a new or innovative product or service to international markets.
- Involved in manufacturing or internationally traded services.
- Capable of creating 10 jobs in Ireland and realising €1 million in sales within three to four years of starting up.
- Led by an experienced management team.
- Headquartered and controlled in Ireland.
- Less than six years old.
See our short introductory video below which will explain how we can help you start your business.
Who to contact to discuss your HPSU business idea
Contact your nearest Enterprise Ireland office where you will find a dedicated start-up adviser with whom who can discuss your idea, establish if your business is eligible for HPSU support, and get advice on moving your business idea forward.
If you are currently based outside of Ireland, go to our Overseas Entrepreneurs section.
Initial screening service to determine if your business idea is eligible for support
If you are thinking of starting a new business or are managing a start-up company and would like to apply for HPSU funding, you can contact a member of the Enterprise Ireland Start-up Team to discuss your idea and plans. We provide an initial screening service to establish if your business is eligible for HPSU support and provide information on the supports that may be available to you.
What to expect when contacting the Start-up Team
The Start-up Team is available to discuss the eligiblity of your idea for HPSU support and, if appropriate, will schedule a one-to-one consultation with you to discuss your business proposal in more detail.
In order to discuss your business proposition we need a written outline – either a business plan (download an example of a business plan template (word format), or if a plan has not yet been completed, an outline proposition that gives an overview of your business idea, the background and experience of the main promoter(s), steps that need to be taken to move the project forward and your funding requirements.
Format of an initial meeting with Enterprise Ireland and possible outcomes
The initial meeting with a member of the Enterpise Ireland Start-up Team is informal. It is not an investor pitch and no decision or commitment on funding will be made at this meeting. Essentially, the meeting allows you to discuss the origins of the business idea, your plans for the business and your development needs. It is also an opportunity for you to ask any questions that you may have about supports available from Enterprise Ireland, and to answer any questions or provide clarifications needed by Enterprise Ireland in order to quickly establish if the business is eligible or ready for Enterprise Ireland assistance. It is essential that you have submitted an outline proposition or a draft business plan to Enterprise Ireland in advance of the meeting.
The outcome of the initial meeting may be one of the following:
- If the proposal is eligible for Enterprise Ireland support and we are interested in working with you to develop the business further, an Enterprise Ireland Adviser, with a portfolio of start-up companies in your sector, will be assigned to work with you to investigate the viability of the start-up proposition and discuss relevant Funding and Supports for HPSU clients.
- If the proposal is not eligible for Enterprise Ireland support - the Start-Up Team will explain the reasons for this and, if appropriate, suggest alternative supports from other government agencies.
- If the proposal appears to be eligible for support but is at a very early stage of development and lacks key information - the Start-Up Team can offer you advice and assistance to help you further develop your proposition or refer you to a relevant Start-up Development Programme.
If you have an idea for an innovative, export focused start-up business and fit the above criteria to qualify as a HPSU, you may be interested in registering for our next Enterprise START Workshop.
If I do not qualify, where can I get support for my start-up?
If your business is not eligible for HPSU support, you can contact your County Enterprise Board (CEB). The CEBs provide a first-stop-shop for entrepreneurs and micro-enterprise and can provide information, mentoring and funding to eligible start-ups.