If you have ever wondered what supports that you and your startup business could and should apply for, read on:
This blogpost was first written in 2011, and has been updated several times most recently in July 2017. The accompanying presentation has also been updated.
This original blogpost is still largely accurate. The big 4 changes: include the Enterprise Boards being rebranded as the Local Enterprise Offices while Enterprise Ireland have also rebranded the EPPs as New Frontiers. The scheme formerly known as Seed Capital Relief is now SURE – Startup Refunds For Entrepreneurs. Finally, CSF has also been launched since this post was first published!
BTW, in 2013, I wrote a related blogpost for Small Business Can that lists 5 starting points for help from the Enterprise Agencies when you are starting a business – including an old version of the image below:
This article will now address the supports available depending on the stage of development of your startup company: pre-enterprise; early stage; and established startup.
Your local bank manager is also worth approaching! The website Smallbusinesscan.ie is definitely worth a visit. Best LinkedIn group is Startup Ireland to compliment their website and offline networking while I also recommend the Startup Digest for an up to date digest of events for Startups in Galway, Limerick, Dublin and/or Cork.
And don’t forget to talk to your local Social Welfare Office about the Back to Work Short Term Enterprise Allowance. Other organisations to contact include Social Entrepreneurs Ireland and your local Community Enterprise Centres.
Early Stage Startups
For companies in the early stage of business the enterprise support agencies become more relevant:
• Innovation Vouchers
• BOI StartLab
• Priming Grant with your LEO
• Get Export Ready programme incorporating the FirstFlight Programme.
Campus incubation centres such as ArcLabs (Waterford), Synergy Centre (Tallaght) and the Innovation Hubs (iHubs) in GMIT are a great resource to startup entrepreneurs. New Frontiers is Ireland’s national entrepreneur programme located in the Institutes of Technology around the country.
The Microsoft BizSpark Programme is also worth investigating.
Established Startup Supports
For more established startup businesses the Local Enterprise Offices offer Business Expansion Grants while for companies with international potential Enterprise Ireland offer:
• Strategic Consultancy,
• R&D supports and
• HPSU supports to include equity investment, key person support
• Access to international offices
• Use of their information centre.
• Horizon 2020 funding to include SME Instrument
InterTrade Ireland also offer a range of supports to startups and SMEs to include Fusion and Acumen and of course the Seedcorn Competition (see my business plan case study about a client company which won a Regional award of €20,000 in 2014)
Other finance supports to be aware of are MicroFinance Ireland (previously First Step); Startup Refunds for Entrepreneurs (SURE) formerly known as Seed Capital Relief; and Employment and Investment Initiative (EII)] previously called as Business Expansion Scheme (BES).
Other organisations to check out include: Enterprise Equity (AIB Seed Capital Fund); Kernel Capital (Bank of Ireland Seed Capital Fund); and HBAN – the business angel network to include WXNW (West by North West) which was established in April 2015; Nucleus Venture Partners; Spark Crowdfunding; Fundit.ie; IBM Global Entrepreneur Initiative and the Small Business Advice Programme; Skillnets, Plato, and Supply Network Shannon.
BTW, Intertrade Ireland offer monthly regional clinics with Drew O’Sullivan aimed at helping companies seeking equity investment – this would be a good starting point for companies seeking equity investment. My blogpost on crowdfunding might also be of interest.
All of the organisations listed in this blog have specific criteria that you should familiarise yourself with before making an official application. I think it is worth contacting them for a chat at an early stage to build a relationship.
As always I welcome your comments, social shares and suggestions. I would appreciate your help in adding to this list!