With Enterprise Ireland’s Innovation Voucher, SMEs can build connections with Ireland and Northern Ireland’s publicly funded Knowledge Providers (i.e. higher education institutes, public research bodies) to explore business problems and uncover opportunities including:
- New product/process/service/business model development
- New service delivery and customer interface
- New service development
- Training in innovation management
- Innovation/technology audit
- €5,000 worth of time with an expert, third-level researcher to help you develop an idea or product, or crack a business or technical challenge.
- Co-funded vouchers are also available to cover project costs of up to €10,000, allowing a company to contribute 50% of the project costs.
- SMEs may avail of a maximum of four vouchers, (3 standard, 1 co-funded).
- A company may have only one active voucher at a time.
Available Voucher Types:
Standard €5k vouchers are available to assist a company explore a business opportunity or problem with a registered knowledge provider. You can apply for one of these standard €5,000 at any time and a response may normally be expected within four weeks. You do not need to identify your knowledge provider in advance and they are valid for 12 months from the date of issue
The value of the voucher is €5,000 and the company contributes 50% of the project costs in cash. Therefore, a company may use a co-funded voucher to cover project costs up to €10,000 on a 50-50 co-funded basis. The company and the knowledge provider jointly agree on the work programme for the project in advance of submitting an application. Companies may wish to use this option when they are no longer eligible for a standard voucher (may have used the maximum of three standard vouchers). This voucher application can be submitted at any time and a response may normally be expected within four weeks.
Eligibility Criteria and Conditions of Use
- Small and medium-sized companies may make use of a maximum of four vouchers, one of which must be a 50-50 co-funded voucher.
- A company may have one ‘active’ voucher at any point in time. Companies should ensure that the voucher has been redeemed by the knowledge provider before applying for a subsequent voucher.
- Companies will not be eligible for further vouchers until their accounts with the knowledge providers are settled in full (including the payment of VAT).
- Your voucher will also be accepted by registered knowledge providers in Northern Ireland as part of Enterprise Ireland’s arrangement with Invest Northern Ireland.
- Companies that have been approved in excess of €300,000 (includes funding under the Enterprise Ireland Innovation Partnership programme) funding from Enterprise Ireland in the previous 5 years are not eligible to apply for a fully funded 5k Standard Innovation Voucher, but are eligible to apply for a Co-Funded Innovation Voucher provided they satisfy all other eligibility criteria.
Please note that Innovation Vouchers are EXCLUSIVE OF VAT. You will be charged VAT by the knowledge provider and this cost MUST be settled separately by the company.
For more information see: https://www.enterprise-ireland.com/en/supports/innovation-voucher
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