The Innovation Voucher initiative was developed to build links between Ireland's public knowledge providers (i.e. higher education institutes, public research bodies) and small businesses. Innovation Vouchers worth €5,000 are available to assist a company or companies to explore a business opportunity or problem with a registered knowledge provider.
For the purposes of the Innovation Voucher Initiative, a small and medium-sized enterprise is defined as a company and has an annual turnover total not exceeding €50m and/or an annual Balance Sheet total not exceeding €43m. (Exclusions: small and medium-sized enterprises in the agricultural sector are excluded in line with State aid guidelines).
Indepth details on eligibility and the application process are available here.
Permitted uses for a Voucher
Innovation Vouchers can be used for any kind of innovation such as:
- new product/process development;
- new business model development;
- new service delivery and customer interface;
- new service development;
- tailored training in innovation management;
- innovation/technology audit.
Vouchers can be exchanged for knowledge transfer projects from the knowledge provider.
For the purposes of this initiative, a knowledge transfer project is defined as one that transfers knowledge of a scientific, technological or innovative nature that it is new to the small enterprise. The small enterprise may then use the new knowledge to innovate a product, process or service.
