Feasibility / Innovation Grants
WHAT ARE FEASIBILITY /INNOVATION GRANTS ?
Feasibility / Innovation Grants are designed to assist the promoter with researching market demand for a product or service and examining it's sustainability. It includes assistance with innovation including specific consultancy requirements, hiring of expertise from third level colleges, private specialists, design, patent costs, and prototype development.
The maximum Feasibility / Innovation Grant payable for the BMW Region (including Westmeath) must not exceed 60% of the investment or €15,000 whichever is the lesser.
WHAT COSTS ARE ELIGIBLE FOR FUNDING ?
Expenditure may be considered under the following headings :
Innovation Costs : Costs under this category may include prototype development, innovative design, research costs and third level college consultancy.
Consultancy Costs : These include design fees, architect, accountant and legal fees.
Miscellaneous Costs : This may include telephone costs, mileage costs at €0.26 per kilometre, subsistence & overnight costs, air travel etc. The overall maximum drawdown in this category should not exceed 20% of the overall grant level.
(Note payments to state bodies including local authorities are excluded)