is the Feasibility study/innovation grant available for all new companies?

tommybc

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The aim of the High Potential Start-Up (HPSU) Feasibility Grant is to assist an early stage company or individual entrepreneur to investigate the viability of a new export orientated business or proposition. Im wondering whats the criteria for companies thatd be eligible
 

Purple

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The aim of the High Potential Start-Up (HPSU) Feasibility Grant is to assist an early stage company or individual entrepreneur to investigate the viability of a new export orientated business or proposition. Im wondering whats the criteria for companies thatd be eligible
You need to talk to Enterprise Ireland. They will decide if you are a HPSU or not. Do you have a solid business plan which forecasts 10 jobs and over €1 million in sales within the next 3 years? If so then they will classify you as a HPSU and support you accordingly.
Do remember that the HPSU funding is largely front-end loading of funding which would be available to any EI client company.
 

Purple

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Could you explain what you mean by this?
There are feasibility study grants, capital grants, training grants, employments grants etc which EI can use to support companies during the different stages of their development. The HPSU funding largely gives those grants up front. They also give cash funding by taking a share in the company. They are preference shares which can't be sold on the open market so in effect it is a loan secured against a share in the business.
The support EI gives in mentoring and networking is as valuable, or more valuable, that the funding. Their overseas offices and staff are generally excellent.

From your first post it looks like you need help developing a business plan. That would include the feasibility study, cash requirements etc. Depending on your background you might be referred to your County Enterprise Office but after that you can still link in with EI.
If you are already working in an EI client company or a Multinational and so have experience in the internationally traded goods and services sector, or you just have a brilliant idea, then EI will probably want to talk to you from the start.
 
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