HPSU Feasibility Study Grant

Typical elements involved in carrying out a feasibility study include; market research, Business Plan development, technical research, prototyping.

 

Am I eligible?

You are eligible to apply if you are a High Potential Start-Up, this 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.

 

What is the maximum HPSU feasibility grant and what costs are eligible?

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.

 

Applications are considered on a case-by-case basis and the level of funding will be determined following assessment of;

 

(a) the merits of providing grant support to the activity set out in the application.

(b) the need for financial support

(c) previous funding provided to the company.

(d) potential for employment and sales growth

 

Receipt of other grants from Enterprise Ireland may impact on your eligibility for support under this initiative.

 

Eligible Expenditures

Salaries and Overheads

• Maximum salary support of €1,000 per week (€200 per day) for a maximum of 12 weeks (60 days) per employee.

• Only time spent on the proposed project by employes of the company can be applied for.

• Support for external consultants must be applied for in the Consultancy Fees section.

• Employee time spent attending Trade Fairs is ineligible.

• Overheads of up to a maximum of 30% of eligible salary costs can be applied for.

 

Foreign Travel and Subsistence

• Only Travel and Subsistence costs for overseas trips related to the proposed project are allowed.

• Foreign Travel and Subsistence costs must be for company employees.

• Subsistence rate is to cover all out of pocket expenses including hotels, meals, taxis local fares, incidentals etc.

• If Foreign Travel and Subsistence is for Trade Fairs is it limited to 5 employees.

• Eligible Travel Costs: Economy Air/Ferry or Rail Fares, Mileage (60c per kilometre) or Economy Car Hire (note mileage cannot be claimed on Hire Cars)

• Eligible Subsistence Rates: Overnight Rate - 24 hr period, max €200 per Day Day rate, < 24 hours €60.

 

Consultancy Fees

• Costs of hiring a specialist consultant to input into or undertake the proposed project.

• Max Consultancy rate is €900 per day.

• Daily rate to be inclusive of travel and subsistence and all out-of-pocket expenses.

• Where more than one consultant is being used from the same firm the daily rate applies to the firm.

• Where there is more than one consultancy firm involved on the project, the daily rate applies to each firm separately.

 

Trade Fair Costs

• N.B. - Only the cost of a company's first-time participation in an international Trade Fair/Trade Show in any one country is eligible.

• Not available to Large Companies.

• Eligible Expenditures relating to Trade Fair: Entry Fees - for a max of 5 company employees, Rental of exhibition space/stand, Stand Set-up and Installation Costs, Sundries: expenditure of €500 is allowable towards the cost of trade show related promotional material, brochure design/printing costs, translation costs etc.

• Purchase of equipment/ICT etc is ineligible

• Participation at conferences, symposiums, standalone company events, demonstrations or meetings are not eligible for support.

 

Business Accelerator Costs

• A Business Accelerator is an Enterprise Ireland appointed in-market industry expert within a specific sector and market, with the experience, knowledge and contacts to support a company’s expansion and development into an export market. Only Enterprise Ireland appointed or approved Business Accelerators are eligible under this category of expenditure. Your Enterprise Ireland Adviser can identify a suitable Business Accelerator in conjunction with our International office network.

• Maximum Eligible costs: Up to a max of 20 days @ a max daily rate of €1,500 per day. (i.e. €30k expenditure). Daily Rate of €1,500 per day inclusive of consultant’s time and all associated travel, subsistence and out of pocket expenses.

• Only one Business Accelerator per market.

 

Prototype/Materials Costs

• Prototype materials, specialised software tools, hire of equipment or facilities and other sundry costs relating to building a prototype are eligible.

• Where consultants/contractors are being used to input into the prototype design/build, the costs should be entered in the Consultancy Fees section of the application form.

• Employee time should be entered under the Salaries and Overheads section.

• Capital items/equipment costs such as laptops, servers are not eligible under this expenditure item.

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Ependysis Business Consultants can prepare you in the submission of the investment file, as well as help you arrange the partners of the project. 

You can contact us at our e-mail: info@ependysis.eu or at our phone number: +30 211 215 5988.