At our Financing and Driving Innovation seminar on May 17th, Gearoid Mooney, Manager Research & Innovation Division, Enterprise Ireland gave an outline of the expected changes to their support schemes for Research & Innovation. The changes incorporate more clarity and emphasis on areas of support along with some procedural changes. Together, they are expected to make the scheme more clearly relevant to EI clients engaging in the development of new or substantially improved products/processes or services.. Working towards an implementation date by Q3, the changes include:
- A greater focus and specific support for incorporation of good design in RDI projects
- Support for business innovation (eg. a step-up activity in production methodology, service delivery model, business model)
- Support for IP strategy development
- Greater specification around feasibility studies to incorporate activities around brand, design, voice of customer, product-market fit etc.
- Equity investments in R&D projects / stage payments in advance for small companies (under review)
- Increase in max grant rate to 70% (subject to legislative change)
- Methodology to deal with multiple projects and project clusters
- Greater transparency around post-award claim documentation
- An optional 2-stage application process
The planned changes align with Enterprise Ireland’s new strategy to 2020 with the aim to help companies expand their market reach and build scale. An extensive communications campaign will be undertaken to drive take-up of these incentives.
IRDG is Ireland’s leading independent network of member companies and colleges working together to promote Research, Development and Innovation. We are here to help any member understand and avail of the appropriate incentives for their needs. Please do get in touch!