PLEASE NOTE: This Fund is now CLOSED for applications.
Overview of the Pilot Competitive Feasibility Fund for the South East Region
In response to the Report by the Minister for Jobs, Enterprise and Innovation – "South East Region Employment Action Plan" - Enterprise Ireland has launched a Pilot Competitive Feasibility Fund for the South East Region. The South East Region comprises Waterford, Wexford, Carlow, Kilkenny and South Tipperary.
The objective of the Competitive Feasibility Fund for the South East Region is to assist new start-up companies or individual entrepreneurs to investigate the viability of a new growth orientated business or proposition to be located in the South East Region. The objective of the grant is to support the costs of undertaking a feasibility study that can provide the necessary information to enable the promoter (and Enterprise Ireland) to reach firm conclusions regarding the project's viability and set out investor ready plans and financials associated with developing and commercialising the innovative product or service on international markets.
The fund is open to applications from the ICT, Industrial, and Food sectors including the following sub-sectors: Internet, Games, SaaS, Cloud Computing, Enterprise Software, Telecoms, Lifesciences, Cleantech, and Industrial Products.
Typical elements involved in carrying out a feasibility study include:
- Market research
- Cost analysis
- Financial projections
- Manufacturing process assessment
- Plant evaluation and selection
- Raw material sourcing
- Prototyping
- Negotiating with potential joint venture partners or obtaining a manufacturing licence may also be included.
Am I eligible?
An entrepreneur with a business proposition that has the potential to create jobs and growth for the South East Region, or a new start up business (within the last 18 months) that is defined as a company that is:
- Less than 18 months since date of incorporation
- Based on an innovative technology or service offering
- Likely to achieve significant growth in three to four years (sales of €1m per annum and employment of 10 or more)
- Led by an experienced team, with a mixture of technical and commercial competencies
- Must be a manufacturing or an internationally traded services business.*
- Must be capable of creating 10 jobs in the South East Region and realising sales of €1m within 3 to 4 years of starting up or, where a company is required to have FDA or CE approval, within three years of approval to sell
- Must not be involved in activities that fall within gambling or "gaming" as defined in the Gaming & Lotteries Act 1956.
*Projects focused solely on the domestic market may not be considered to have significant growth potential.
What is the maximum funding available and what costs are eligible?
The maximum support available is €25,000.
Enterprise Ireland will assess eligibility of the activities proposed in the study and associated costs. The amount of support is determined by the Evaluation Panel for the Pilot Competitive Feasibility Fund for the South East Region following this assessment.
The maximum grant funding available for a High Potential Start-Up feasibility study is 50% of eligible expenditures. The maximum level of grant funding for the Pilot South East Region Competitive Feasibility Study initiative is €25,000.
For example, if your feasibility study costs €40,000, Enterprise Ireland can grant aid a maximum of €20,000. If your feasibility study expenditure is €10,000, the Enterprise Ireland grant would be a maximum of €5,000.
Eligible costs and maximum expenditure limits:
€1,000 per week or €200 per day. Maximum 12 weeks or 60 days.
Promoters undertaking their own studies who are not otherwise in receipt of income or and who can show loss of income as a result of carrying out a feasibility study, are entitled to claim an income allowance for the actual verifiable loss up to the €1,000 per week maximum. The number of days for which salaries are claimed must be specified in the application form together with the weekly rate of pay for each individual.
Up to maximum of 30% of approved wage/salary costs. If wages and salaries support is not being sought overhead/sundry expense items (phone, postage, rental, stationary, etc.) can be applied for but must be itemised and vouched at time of grant claim.
Maximum daily rate of €900 per consultant/consultancy firm for first 20 days. Max €700 per day for subsequent days. The cost of obtaining specialist advice necessary to establish the viability of a project is eligible for assistance. Maximum 30 days per consultant. Consultancy rate per day to be inclusive of travel and subsistence and all out-of-pocket expenses.
Should not exceed 25% of the total feasibility study costs. Prototype design and fabrication expenditure (where not already funded by Enterprise Ireland) is eligible for assistance. Eligible prototype costs include materials, labour, subcontract costs, and the hire of necessary facilities.
For projects where it would be inappropriate to develop a prototype, the cost of designing and printing a brochure for market research purposes (but not for direct marketing) may be considered on merit.
Daily Allowances - Ireland
Economy air/rail fares. Mileage 60 cents/km or Economy car hire (No mileage payable on rental cars)
Subsistence*, 24 hr period €150 per day.
Subsistence*, day rate, €60.
Daily Allowances - Overseas
Economy air/rail/Ferry fares. Mileage 60 cents/km or Economy car hire (No mileage payable on rental cars)
Subsistence*, 24 hr period, €200 per day.
Subsistence*, day rate, €60.
*Subsistence: For all out-of-pocket expenses including, hotels, meals, taxis, local fares, incidentals etc. Note: Subsistence can only apply where a person is absent on business at a location more than 20 kilometres (overnights 80km) from their work base.
Any expenditure incurred prior to the competition’s call close date will not be eligible for support.
How do I apply? & Closing Date for Applications
PLEASE NOTE THIS FUND IS NOW CLOSED FOR APPLICATIONS.
Download and complete the official South East Feasibility Application Form. (Note: only applications on the official appliation form provided will be valid for consideration). Completed Applications should be emailed to southeastCSU@enterprise-ireland.com.
The closing date for this call was 6pm Monday 30 January 2012. Late applications will not be considered.
How is my application evaluated?
Applications will be checked against the eligibility criteria set out above. Only eligible applications will be assessed and scored.
Project evaluation will consist of a two phase assessment:
Assessment Part 1:
An evaluation panel comprising three representatives of Enterprise Ireland will evaluate each application and will score them under the following criteria:
| Evaluation Criteria | Weighting |
| Promoter(s)/ Team profile, track record and domain knowledge | 40% |
| Customer demand and the long term potential of the Business | 30% |
| Innovation level of proposed product / service | 30% |
| Total | 100% |
Assessment Part 2:
The highest ranking applications will be sent to an Evaluation Panel comprising external industry experts and representatives of Enterprise Ireland for review. The highest ranking applicants will be invited to present a short pitch to this evaluation panel at the offices of Enterprise Ireland in Waterford. The date of the pitch for this call is Tuesday 14th February 2012.
The evaluation panel will score the applicants based on a pitch by the applicant outlining:
- the capability of you or your management team to execute the feasibility study.
- the value proposition of your product or service idea? specifically why would someone be "compelled" to purchase your offering?
- the innovativeness of the offering.
- the likelihood of the project locating and succeeding in the South East Region.
Please Note: Enterprise Ireland reserves the right to seek additional clarification from the applicant in regard to your application.
All applicants will be informed of the outcome of this Pilot Competitive Feasibility Fund call on or before Monday 27th February 2012.
Key Contact/more information
For information in relation to the Pilot Competitive Feasibility Fund for the South East Region contact
Mr. Brian Fives
Regional Development Executive
Enterprise Ireland
Tel. + 353 (0)51 333537
 | Brian Fives |