New €1.5 Million Investment Programme for LEO Clients

The LEO Innovation Investment Fund Pilot has just been launched and offers a great opportunity to clients of Local Enterprise Office Offaly. Full details of the programme and the application system are both available at www.liif.ie

This is a pilot programme which is targeting existing Local Enterprise Office clients looking to undertake innovative developments or who now want to consider starting up an innovative new business. There are 4 components to the offer:

1. €1.5m Investment Fund targeting investor ready LEO clients (clients with a short/medium term funding requirement over the next 3 to 6 months ideally). This fund will be available through the network of local enterprise offices and will be approved for individual projects following a competitive process. A maximum Grant Investment of €25k will be potentially available to successful clients.

2. Investor Ready Programme; Clients will apply online and will be selected to participate on a short (4 weeks) highly focused Investor Ready Programme. This programme will work with Investor Ready LEO clients to implement their innovative development plan. The programme will incorporate 1 +1 mentoring to assist the promotor prepare an investor ready plan. 

3. Investor Ready Pitch: At the conclusion of the investor ready programme promoters will have the opportunity to make a formal pitch to an Investor Panel to secure a LEO Grant Investment of €25k to help fund their innovative business start- up or development. The Investor Panel will decide on the actual investments using a competitive adjudication process following the presentation of the investor ready plans and after hearing the individual pitchs. 

4. Online Application: The application process is easy. Existing Clients will be requested to submit their application and mandatory video through the online form available on the website. Applicants must select the county in which their business is or will be located. Applicants will have the option to save the application and return at a future date. 

This is a great opportunity for innovative local businesses to access developmental funding. Full details of the scheme are available at www.liif.ie Applications came be started immediately but must be completed and submitted before the deadline date of 31 July 2017.