Overview of Innovation Voucher initiative
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.
We are pleased to announce that we are opening up the innovation programme to medium sized companies as well. This will run on a pilot basis for an initial period of 6 months.
Am I eligible?
The Innovation Vouchers initiative is open to all small and medium-sized limited companies registered in Ireland. Applications are not restricted to clients of Enterprise Ireland.
Small and medium-sized enterprises in the agricultural sector are excluded in line with State aid guidelines.
Companies with charitable status, commercial semi-state companies, “not for profit” organisations, trade associations, company representation bodies such as Chambers of Commerce, Sports Clubs and other non-commercial bodies or associations are not eligible to participate in the innovation voucher initiative.
Small and medium-sized company definition (SME):
For the purposes of the Innovation Voucher Initiative, a small and medium-sized enterprise is defined as a company or (if part of a group) a group of companies where the total number of full-time employees in the company (or the entire group) is less than 250 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).
Eligibility Criteria and Conditions of Use
Small and medium-sized companies may make use of a maximum of three vouchers, one of which must be a 50-50 co-funded Fast Track voucher.
Companies that have been approved in excess of €300,000 (includes funding under the Enterprise Ireland Innovation Partnership programme) funding from Enterprise Ireland in the previous 5 years are not eligible to apply for a fully funded 5k Standard Innovation Voucher, but are eligible to apply for a Co-Funded Innovation Voucher provided they satisfy all other eligibility criteria.
A company may have one ‘active’ voucher at any point in time. Companies should ensure that the voucher has been redeemed by the knowledge provider before applying for a subsequent voucher.
Companies will not be eligible for further vouchers until their accounts with the knowledge providers are settled in full (including the payment of VAT).
Your voucher will also be accepted by registered knowledge providers in Northern Ireland as part of Enterprise Ireland’s arrangement with Invest Northern Ireland.
Please note that Innovation Vouchers are EXCLUSIVE OF VAT. You will be charged VAT by the knowledge provider and this cost MUST be settled separately by the company.
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. Applications are not restricted to clients of Enterprise Ireland.
Further details can be found by clicking on the link below:-