Overview
The aim of a Feasibility Study Grant is to help start up companies or individual entrepreneurs with the cost of researching their proposed business or new business idea to see if it could be viable and sustainable. The study should help the promoter to reach firm conclusions about their business idea and give them the information they need to draw up a full business plan. The Local Enterprise Office Clare will consider making Feasibility Study Grants to applicants whose potential new business or service may be eligible to apply for further grant assistance from the Local Enterprise Office if the business goes ahead.
Only businesses or individuals intending to explore the feasibility of a manufacturing or internationally traded service sector may apply.
What does the Feasibility Study Grant cover?
Feasibility Study Grants are designed to assist the promoter with researching market demand for a product or service and to examine the sustainability of that product or service. The grant helps with innovation costs including specific consultancy requirements, hiring expertise from third level colleges, private specialists, design, patent costs and prototype development.
Grant expenditure may be considered under the following headings:
- Market Reseach Costs - to develop the business proposition
- Consultancy Costs - to include design fees, architect fees and legal fees
- Technical Development/ Prototype/ Innovation - to include prototype development, innovative design, research costs and third level college consultancy
- Salary/ Own Labour Research - costs include own labour involved in carrying out the Feasibility Study. The maximum amount chargeable under this category is €400 per week, subject to the overall maximum not exceeding 20% of the overall grant
- Miscellaneous Costs - includes telephone costs, mileage costs at 26c per kilmoetre, subsistence and overnight costs, air travel and so on. The maximum amount for these costs should not exceed 20% of the overall grant level.
The maximum Feasibility Study Grant payable is 50% of your eligible expenditure or €15,000 - whichever is the lesser.
How to apply for a Feasibility Study Grant?
Contact us to discuss your needs with one of our Team.
*Businesses with 10 employees or more may be eligible, please contact your Local Enterprise Office advisor for more information.
