The aim of the High Potential Start-Up (HPSU) Feasibility Study Grant is to assist a new start-up company or individual entrepreneur to investigate the viability of a new export orientated business or proposition. The objective of the study is to 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 your innovative product or service on international markets.
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
- Negotiating with potential joint venture partners or obtaining a manufacturing licence may also be included
NOTE: Studies solely based on market research are not eligible for assistance.
ELIGIBILITY: You are eligible to apply if you are a High Potential Start-Up, which is defined as a company which is:
- 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);
- Export orientated;
- Led by an experienced team, with a mixture of technical and commercial competencies.
FUNDING: Applications are considered on a case-by-case basis. Enterprise Ireland will assess eligibility of the activities proposed in the study and associated costs. The amount of support is determined 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 currently available is €15,000.
- For example, if your feasibility study costs €30,000, Enterprise Ireland can grant aid a maximum of €15,000. If your feasibility study expenditure is €10,000, the Enterprise Ireland grant would be a maximum of €5,000.
NOTE: Receipt of other grants from Enterprise Ireland may impact on your eligibility for support under this initiative.