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Feasibility Innovation Study Grant Financials

County & City Enterprise Board Feasibility/ Innovation Grants

 

The following information is sourced from County Enterprise Publication of January 2012.

 

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 South and East Region (to include Limerick) must not exceed 50% of the investment or €20,000 whichever is the lesser. The maximum Feasibility/ Innovation Grant payable for the BMW region (to include Galway) must not exceed 60% of the investment or €20,000 whichever is the lesser.

 

 

Expenditure may be considered under the following headings:

 

Innovation Costs. Costs under this category may include prototype development, innovative design, research costs, patent costs, and third level college consultancy.

 

Own Labour Research. Costs under this category may include own labour involved in carrying out research/ prototype development. The maximum amount chargeable under this category is €400 per week subject to the overall maximum under this category not exceeding 20% of the overall grant drawdown.

 

Consultancy Costs. These include design fees, architect, acountant and legal fees.

 

Miscellaneous Costs. This may include telephone costs, mileage costs at €0.26 per kilometre, subsistence & overnight costs (€120 per 24 hours), air/ferry 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).

 

Please check with your local Enterprise Board on the up to date position on eligible expenditure for Feasibility Studies.

 

Please also note that some Enterprise Boards require a business to have applied for and been refused for an Innovation Voucher before an application for a Feasibility Study can be submitted.

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