Feasability Study Grant

Feasibility / Innovation Grants

What is a Feasibility Study Grant?

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. Local Enterprise Offices 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 LEO if the business goes ahead.

The maximum Feasibility Study Grant payable is 60% of your eligible expenditure (in County Louth) or €15,000 whichever is less.

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.

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 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. The 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, and so on. Costs in this category relate specifically to Feasibility Grants. The maximum amount for these costs should not exceed 20% of the overall grant level.

How do I apply for the grant?

If you want to apply for a Feasibility Study Grant, you need to contact your local LEO. They will assess your eligibility. When applying for this grant, you should show that:

  • You have done enough preliminary research to suggest that a full feasibility study is worthwhile; and
  • There is a reasonable possibility that any business idea arising from the study would have real job creation potential.

Applications are considered on a case by case basis.

Any individual or business who wishes to apply must submit a completed signed Feasibility Study Grant application form along with the following:

  • A CV (for the main applicant),
  • Quotations for the key costs,
  • 3 quotes for any item of expenditure over €5,000. (For any expenditure item costing less than €5,000, one verbal quote is required); and 
  • the most recent set of certified accounts (in the case of existing businesses).

Please make sure your application form is completed in full.

Please contact LEO Louth to discuss your interest in applying for this support on 1890 202 303

 

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