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.  This is in line with the overall objectives of the Action Plan for Jobs: Regional initiative and national enterprise policy.

This regional competitive fund is designed to support the ambition, goals and implementation of the RAPJs. Enterprise Ireland with the support of the Department of Business, Enterprise and Innovation (DBEI) is leading in the development and implementation of this Fund of up to €60m. 

The funding will be delivered through two Scheme calls. The first call, launched in 2017, funded projects under the Regional Enterprise Development Fund of €30.5m in grant support. The balance of funding available for the second call is €29.045m.

For details and to register for Regional Enterprise Development Fund information sessions, go to 2018 REDF Information Sessions.

 

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 support Industry Clusters 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.

 

Scheme Structure

The Scheme has four streams:

  1. Stream One to support major regional, multi-regional or national sectoral initiative grants of €2m up to €5m per project in funding towards capital and current costs. These initiatives should be focussed on achieving defined enterprise development outputs and impacts.
  2. Stream Two to support significant county, regional or multi-regional sectoral and or enterprise initiative grants of €250k up to €2m per project in funding towards capital and current costs. These projects should be focussed on delivery of defined enterprise development outputs and impacts.
  3. Stream Three for local and community enterprise initiative grants of €50k up to €250k per project in funding towards capital and current costs. These projects should be focussed at a local, county or regional initiatives that have defined metrics for enterprise development in the area.
  4. Stream Four to support significant Industry Clustering initiatives with grants of €50k up to €250k per project in funding towards current costs.  These projects should support industry-led groups to maximise the benefits of collaborative opportunities where the results of the activity will have some identifiable and measurable impact 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 Industry Clusters the balance of funding of a minimum of 50% 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.

 

Am I eligible? Who can apply?

Eligible Applicants

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, Industry Clusters 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%,

Stream Four – the maximum funding level per project will be up to 50%,

with the following funding limits for each stream:

  • Stream One –Major regional change projects – grant funding of €2m up to €5m at 80%;
  • Stream Two – Regional change projects – grant funding of €250k up to €2m at 80%;
  • Stream Three – Local and community enterprise initiatives – grant funding of €50k up to €250k at 80%;
  • Stream Four – Industry Clusters – grant funding of €50k up to €250k at 50%;

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?

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:

GA-REDF@enterprise-ireland.com

 

What are the call close dates?

  • The call open date for the second call for Streams 1,2,3 and 4 is Monday 16th April 2018.

  • The call close for the second call for Streams 1,2,3 and 4 is Thursday 28th June, 2018 at 15:00pm GMT.

 

More information

 

Contact

For more information, contact the following Enterprise Ireland Regional Executives based in your location:

Dublin

Eoghan Hanrahan+353 1 727 2289

Deirdre O'Neill  +353 1 727 2145

South-East

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

South

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

West

Barry Egan  +353 91 735 920

Burga Fullam+353 91 735 929

Margaret Charleton  +353 91 735 946

North-West

Aidan McKenna +353 42 935 4426

Carole Brenan   +353 71 915 9726

Joan Mullen  +353 71 9159732

North-East

Aidan McKenna +353 42 935 4426

Anne Caldwell   +353 42 935 4429

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.