Feasibility Study Grant

Feasibility Study Grant

What is a Feasibility Study Grant?

Feasibility Study Grants help start-up companies or individual entrepreneurs with the cost of researching their proposed business or new business idea to test if it is both viable and sustainable. The Feasibility Study helps the start-up or entrepreneur reach firm conclusions about their business idea and give them the information they need to draw up a Business Plan. 

Who Can Apply for a Feasibility Study Grant?

Only businesses or individuals intending to explore the feasibility of a manufacturing or internationally-traded service-sector business may apply. Business must also:

  • employ not employ more than 10 people
  • be established, registered, and operate within the area of Longford, Local Enterprise Office
  • operate in the commercial field
  • show there is a market for the product or service
  • have the potential for growth in domestic or export markets
  • have potential for job creation without affecting existing local businesses

What Does the Feasibility Study Grant Cover?

Feasibility Study Grants are designed to assist 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 Research 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 (maximum amount chargeable is €400 a week subject to the overall maximum not exceeding 20% of the overall grant drawdown
  • Miscellaneous Costs: include telephone costs, mileage costs (at €0.26 per kilometre), subsistence and overnight costs, air travel (Costs in this category relate specifically to Feasibility Grants, with the maximum amount for these costs not to exceed 20% of the overall grant level)

How do I apply for the grant?

Click here to download Feasibility Study Grant Form and contact Longford LEO and we will assess your eligibility. Applications are considered on a case-by-case basis. Full T&Cs are also available on the Application Form. 

 

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