Enterprise Ireland’s Competitive Feasibility Fund for Agri-Business aims to support agri-business entrepreneurs in growing a scalable businesses. This Competitive Feasibility Fund closes for applications at 3 p.m. on Tuesday 21st October 2014.
The objective of the Competitive Feasibility Fund for Agri Business Entrepreneurs is to assist new start-up company, or individual entrepreneur, to investigate the viability of a new growth-orientated business proposition which has the ability to become a High Potential Start-up [HPSU]. These are companies that can develop scalable innovative technologies, products or services for sale on world markets. We are seeking to support projects that are likely to achieve significant growth within three years (sales of €1m per annum and employment of 10 or more) or, where a company is required to have FDA or CE approval, to have €1 million in sales within three years of approval to sell. The total fund size is up to €250,000.
Are You Eligible?
The applicant must be part of the lead management team, with a business start up that has the potential to create jobs and export growth. The new business must be:
- Less than 3 years since the date of incorporation.
- a manufacturing or an internationally traded services business.*
- Not involved in activities that fall within gambling or "gaming" as defined in the Gaming & Lotteries Act 1956.
- have the potential to create jobs and significant growth in the Agri-Business Sector.
*Projects focused solely on the domestic market may not be considered to have significant growth potential.
Ineligible Applicants
The fund is not open to the following:
- Applications that are not within the Agri-Business sector.
- Projects focused solely on the domestic market.
- Individuals or start-up companies that have been approved financial support from Enterprise Ireland (including Feasibility Grants, New Frontiers Stipend, CORD Grant, Competitive Start Fund or Equity Investment) in the past 2 years.
- Applicants who were approved any other state funding for the project for which they are seeking feasibility funding.
- Companies who have already reached their De Minimis Aid limit.
- Applications received after the call close date 3pm on Tuesday 21st October 2014.
Eligible Activities
Successful applicants will be awarded feasibility funding to support a maximum of 50% of the study costs. Typical elements involved in carrying out a feasibility study include:
- Market research
- Cost analysis
- Financial projections
- Manufacturing process assessment
- Plant evaluation and selection
- Raw material sourcing
- Prototyping
- Negotiating with potential joint venture partners or obtaining a manufacturing licence may also be included
Eligible Costs
Eligible costs include:
- Salary costs of the promoter(s) or company employees
- Foreign travel and subsistence costs related to the project
- Fees of external consultants
- Costs of building and/or testing a prototype
- Costs of exhibiting at or visiting one overseas trade fair
Any expenditure incurred prior to the call close date of 3pm on Tuesday 21st October 2014 is not eligible for support.
Maximum Funding
The maximum grant available is €25,000. The grant is calculated at a maximum of 50% of eligible expenditure of up to €50,000 incurred by the successful applicant.
Eligible applications for funding will be considered on a competitive basis. Enterprise Ireland will assess eligibility of the activities proposed in the study and associated costs. The amount of support will be determined by the Evaluation Panel following the Final Assessment.
How to Apply
Applications must be submitted via the Enterprise Ireland Online Application System by 3 p.m. on Tuesday 21st October 2014.
Contact Details / Further Information
Full details about the Agri Fund, eligibility and terms & conditions area available in the Reference Document (PDF).
For details about the Competitive Feasibility Fund, please email or telephone
Agri Fund
Tel: +353 (0)90 6487100