Innovation Boost
Summary:
Innovation Boost can provide that support by helping to fund a high calibre science, engineering or technology graduate and partnering you with a third level institution with specific expertise.
Eligibility criteria:
To qualify for financial support through Innovation Boost, your business must be:
- A small or medium-sized enterprise (SME) with 5 - 249 full time employees.
- An SME which is a manufacturing or tradable services company, located on the island of Ireland (North or South).
- Financially viable.
- 2 year trading history.
- Understanding of and capacity for innovation.
- An SME indigenous to the island of Ireland.
- An SME which is able to demonstrate the need for Innovation Boost technical support.
- An SME which is able to demonstrate the capacity and commitment to support an Innovation Boost project at senior management level.
Ineligible sectors
Businesses involved in the following sectors are not considered eligible for Innovation Boost funding: Wholesale/retail, distribution, tourism, hospitality, primary agriculture, personal services. Professional business services will only be considered where the proposed project will develop a product or service which will be traded internationally.
Additional information:
- On average, each company taking part in Innovation Boost benefits from over £1 million worth of sales or efficiency savings in the three years following the project
- Develop or improve products, processes or services
- Streamline business processes to increase efficiency and performance
- Develop and implement new technologies, systems or processes
- Improve capabilities in innovation, design and technology
- Reduce costs
- Increase sales
The funding available is:
- 18 month support package - worth up to £56,000/€67,900 typically in the area of new product/service development or
- 12 month support project - worth £39,000/€47,400 typically in the area of process improvement
Support organisation:
- InterTradeIreland
Phone:
028 3083 4189
Find out more:
Innovation Boost
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