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
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 may 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 €650,000, of which the maximum for capital & technology acquisition is €300,000.
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Max. Funding
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Funding Type
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Min. Company Spend
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Capital Investment
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€300,000
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Grant / 50% repayable
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€75,000
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Technology Acquisition
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€300,000
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Grant
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€50,000
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Training & Management Development
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No specific limit
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Grant
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€25,000
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Consultancy
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25% of total project
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Grant
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n/a
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Recruitment of Key Managers
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€200,000
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Grant
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n/a
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Workplace Innovation &
Management Development
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No specific limit
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Grant
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€25,000
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Overall Maximum Support for Submission
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€650,000
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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?
Applications will be considered on a competitive monthly tranche basis. The closing day for the first tranche is 5.30pm on Thursday the 21st of February 2008 and on the third Thursday of each month thereafter. The call close dates for the remainder of 2008 are as follows:
Call Close Dates Growth Fund 2008
5.30pm on Thursday 21 August
5.30pm on Thursday 18 September
5.30pm on Thursday 16 October
5.30pm on Thursday 20 November
5.30pm on Thursday 18 December
Call Close Dates Growth Fund 2009
5.30pm on Thursday 15 January
5.30pm on Thursday 19 February
5.30pm on Thursday 19 March
5.30pm on Thursday 16 April
5.30pm on Thursday 21 May
5.30pm on Thursday 18 June
5.30pm on Thursday 16 July
5.30pm on Thursday 20 August
5.30pm on Thursday 17 September
5.30pm on Thursday 15 October
5.30pm on Thursday 19 November
5.30pm on Thursday 17 December
Project ideas should be discussed with your local Enterprise Ireland Development Adviser (DA) prior to submitting a completed application form.
Support may be available for consultancy assistance in creating the business plan required. Contact your DA for details. Further information is available at Strategic Consultancy Grant. You may download an application from the list below.
Clients are advised to consult website for most recent version of applications as documents are continuously being updated.
When the application has been completed, it and (the Business Plan Summary, Project Details and Costs and the Financial Data Sheet) along with the company's most recent audited and management accounts should be emailed as a READ ONLY documents to:
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CSU |
Applications take 2 months to process i.e. from the end of the month of submission to approving committee decision.
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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.
Further information is available for reference by
a quick reference guide entitled Growth Fund at a Glance is also available in PDF format
If you are not already a client of Enterprise Ireland, please contact your nearest Enterprise Ireland regional office. Otherwise contact:
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Philip Crowe
Tel: + 353 1 727 2582 |
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Dermot Murphy
Tel: + 353 1 727 2732 |
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