Regional Enterprise Development Fund 2017-2020
Overview of the Regional Enterprise Development Fund
In February 2015, as part of an overarching strategy to support regional enterprise development, the Government announced a Regional Competitive Fund with the objective of supporting significant regional initiatives to build on sectoral strengths and/or to better leverage identified resources to improve enterprise capability. The Fund was launched over two calls in 2017 & 2018 with 38 Feasibility and 42 main stream projects approved approx. €60m in funding. These supported projects are located in every region of the country.
REDF Call 3
Following the success of the initial scheme the Minister for Jobs, Enterprise & Innovation has launched a new scheme with funding of a further €45m to support the achievement of objectives outlined in the Regional Enterprise Plans; Future Jobs Ireland and Enterprise Ireland’s “Powering the Regions” initiatives.
The funding will be delivered through one Scheme call. The call launched on the 24th June 2019 will remain open for applications up to the call close date which is 15.00 on Wednesday 25th September 2019. Applications received by Grants Admin after 15.00 on the 25th September will be ineligible. Note that is an absolute cut off point as it is a computerised shut down at 15.00 and as it is a competitive call any applications not received by that time cannot be considered. Call 3 Regional Enterprise Development Fund information sessions will be run in each region over the next 5 to 6 weeks, details will be available shortly.
Objectives of the Scheme
The Scheme will support major new collaborative and innovative initiatives that can make a significant impact on enterprise development in the region/across regions or nationally to build the unique USP capabilities to grow the regions, (“the Projects”). This will be achieved by co-financing the development and implementation of collaborative and innovative projects that can sustain and add to employment at a national, regional and county level.
The overarching aim of this Scheme is to drive enterprise development and job creation in each region throughout Ireland.
The Scheme also seeks to stimulate enterprise clustering initiatives, which are defined as structures or organised groups of independent parties designed to stimulate innovative activity through promotion, sharing of facilities and exchange of knowledge and expertise and by contributing effectively to knowledge transfer, networking, information dissemination and collaboration among the undertakings and other organisations in the connectivity.
The scheme will support the development of initiatives that help strengthen the regional ability to adjust and cope with the potential effects of international economic changes that may impact on regions or sectors performance nationally.
The Scheme has three streams:
- Stream One to support Strategic Change Projects with major regional, multi-regional or national sectoral initiative grants from €500k up to €5m per project in funding towards capital and current costs, at a maximum grant rate of 80% of actual costs. These initiatives should be focussed on achieving defined enterprise development outputs and impacts.
- Stream Two for Regional Strengthening Projects, grants from €100k up to €500k per project in funding towards capital and current costs, at a maximum grant rate of 80% of actual costs These projects should be focussed at local, county or regional initiatives that have defined metrics for enterprise development in the area.
- Stream Three to support significant Enterprise Clustering Initiatives with grants of €50k up to €350k per project in funding towards current costs, at a maximum grant rate of 80% of actual costs. These projects should support industry-led groups to maximise the benefits of collaborative opportunities where the results of the activity will have identifiable and measurable impacts on their business.
Balance of funding of min 20% may be from the private, community or public sector (including HEIs and Local Authorities). The matching funds of 20% can be in cash or kind (with a cash minimum of 10%). *
In respect of Enterprise Clustering Initiatives, the balance of funding of a minimum of 20% may be provided from companies within the cluster in addition to private investment funding.
*Note: In-kind contribution will only be accepted in the form of the following:
- Notional value of a premises if donated by one of the parties i.e. market value of potential lease over the period proposed (the applicant groups must own the building OR must hold a lease of not less than 15 years.)
- Salary costs of staff seconded full time to the project by one of the applicant group members.
Click here to download the REDF Scheme document.
Am I eligible? Who can apply?
To be eligible all applicants must be registered as a Designated Activity Company, (DAC) or a Company Limited by Guarantee, (CLG) under the Companies Act 2014. Where the Applicant is a DAC, the constitution of the applicant shall provide that no payment (other than reasonable and proper payments for services rendered, vouched expenses or rent for premises let to the Company) transfer or distribution may be made directly or indirectly to a member and that, upon a winding up or dissolution of the company, no transfer, payment or distribution may be made to a member but that instead all net assets shall be given up or transferred to some other institution or institutions having main objects similar to the main objects of the Company and which shall prohibit the distribution of its or their income and property amongst its or their members to an extent at least as great as is imposed on the Company.
The Applicant will be not for profit entities that have already, or propose to, set up a distinct legal entity (DAC/CLG) that comprise national/regional, county and local stakeholders, with a purpose of benefiting the wider needs of the community and region/nation as defined in the relevant streams outlined below.
Applicants can be promoted by private or public organisations, which for example might include:
- Higher Education Institutes
- Semi State Commercial bodies
- Local Enterprise Development Groups
- Local Authorities
In addition, Enterprise Clustering Initiatives must comprise of at least five companies.
What is the maximum funding available?
Maximum Funding Levels
Streams One, Two & Three - the maximum funding level per project will be up to 80%,
with the following funding limits for each stream:
- Stream One –Strategic Change Projects – grant funding of €500k up to €5m per project at up to 80% funding rate;
- Stream Two – Regional Strengthening Projects – grant funding of €100k up to €500k at up to 80% funding rate;
- Stream Three –Enterprise Clustering Initiatives – grant funding of €50k up to €350k at up to 80% funding rate;
Each successful applicant shall be given funding for a maximum three-year period to drive the implementation of its work programme. A maximum of €5m of funding per project over the period can be provided by Enterprise Ireland under this Scheme. Enterprise Ireland will fund up to 80% of eligible expenditure or €5m per project, whichever is the lesser, over the period of funding.
The continuance of funding throughout the three-year period shall be contingent upon delivery of agreed milestones for the project, which shall be set by Enterprise Ireland. The funding is also subject to justification of costs and the evaluation criteria detailed below by Enterprise Ireland in Section 16, where Enterprise Ireland reserves the right to reduce or disallow proposed funded costs, or to schedule some or all of the costs in stages over the term of the funding.
Enterprise Ireland shall make no commitment to funding the successful applicant after the three-year period of funding.
- The activity being proposed for funding, must be additional to the activities currently being undertaken if any; and additional to activities if any; currently funded by the State.
All successful projects for funding must commence within 12 months from the start date of the Project. Time extensions beyond the 3-year period will be subject to consideration by EI approving Committee.
Note: Funding of new building or refurbishment costs will be limited to a maximum of 80% of the supportable costs per project and building and refurbishments costs will have commenced within 12 months of the grant offer date for Streams One, Two and Three only.
How do I apply? How are applications assessed?
REDF Call 3
Application forms are available by downloading the REDF Application Form.
Note: only applications submitted on the official application form will be considered.
Eligible applications will be evaluated and approved by the Enterprise Ireland Board or a decision-making committee appointed by the Enterprise Ireland Board. Where the number of suitable applications exceeds the available funding, those ranked highest will be supported.
An Evaluation Group will be set up comprised of nominees from Enterprise Ireland, Department of Business, Enterprise and Innovation and relevant public and private bodies will be set up to evaluate eligible projects.
Full details on how applications are assessed are available by downloading the REDF Reference Document.
Completed application forms must be sent to the following email address:
Apply via the Enterprise Ireland Online Application System.
Prior to applying you must do the following:
Any expenditure incurred prior to receipt of the application by Enterprise Ireland will not be eligible for grant aid.
Applications will be received and approved on an on-going basis until the feasibility fund closes on September 2nd.
Applications for Feasibility Grants will be screened against the stated eligibility criteria and successful applications will be approved by the Enterprise Ireland Regions & Entrepreneurship Division & REDF Team, within two weeks of the application being received
All applications will be evaluated against the following criteria:
|1||Quality of Feasibility Proposal||40%|
|2||Value for Money & Economic Impact||40%|
|3||Need for support||20%|
What are the call close dates?
- The call open date for Call 3 for Streams 1,2, and 3 is Monday 24th June 2019.
- The call closes for Call 3 for Streams 1,2, and 3 on Wednesday 25th September 2019, at 15:00pm GMT.
- The Call open date for Feasibility Funding is Monday 24th June 2019
- Completed applications for the Feasibility Fund may be submitted at any time from the call open date. The last date for applications for Call 3 projects is the 2nd September 2019.
For more information, contact the following Enterprise Ireland Regional Executives based in your location:
Eoghan Hanrahan+353 1 727 2289
Deirdre O'Neill +353 1 727 2145
Martin Corkery +353 21 480 0229
Brian Fives +353 51 333 537
Midlands and Mid-East
Michael Brougham +353 90 648 7121
James Maloney +353 90 648 7125
Mark Atterbury +353 90 648 7128
Ena Coleman +353 1 727 2787
Martin Corkery +353 21 480 0229
Ciara Concannon +353 21 480 0231
Jacqui Norton +353 21 480 0228
Mid-West & Kerry
Jerry Moloney +353 61 777 018
Catherine Hogan +353 61 777 009
Harriet Cotter +353 61 777 015
Noeleen Hussey +353 91 735 929
Margaret Charleton +353 91 735 946
Aidan McKenna +353 42 935 4420
Carole Brenan +353 71 915 9726
Joan Mullen +353 71 9159732
Aidan McKenna +353 42 935 4420
Anne Caldwell +353 42 935 4429
Deirdre Craven +353 42 935 4426
Or your local Regional Enterprise Ireland office.
Note: Enterprise Ireland will not release any information received except as may be required by law, including the Freedom of Information Act 2014. In the event of a Freedom of Information request, the proposer will be given reasonable advance notice in order to contest such disclosure.