Worth 50% match funded to a max of €150,000, the Enterprise Ireland Business Innovation project involves the development and implementation of new services delivery, production methods or a substantive change to the business model of the company.
These projects are a large scale Business Innovation that involves a significant step-up in how the company does business. Examples could include;
✔ Moving from a product company to providing complementary services or vice versa
✔ A change to the business model in terms of external partnerships and market reach
✔ Significant scaling of an existing service involving automation
The project must involve some level of innovation and risk, and should not be focussed on routine operational changes, simply adopting known best practice or responding to changes in regulation.
Costs that can be supported relate to the implementation of the new process, delivery or organisational method and may involve technical as well as non-technical staff.
What is the maximum funding level?
Grant rates are determined by the type of project and the size of your company as set out in the table below. Companies seeking support in excess of these amounts will be evaluated on a case by case basis by the Enterprise Ireland Investment Committee using a similar approach and grant rates as the R&D Committee.
Small Companies Medium Companies Large Companies Maximum Grant Business Innovation Projects 50% 50% 0% €150,000
A collaboration bonus of up to 15% is available for R&D projects where there is collaboration between two companies, but the total maximum funding cannot exceed 50% of the total project cost.
Note that Business Innovation support is not available for Large companies