Enterprise Ireland has announced a new revised funding approach for existing and potential clients.
Enterprise Ireland has expanded its risk-sharing with companies through the provision of equity based finance to early stage start-up companies and will also emphasised the importance of R&D and training through funding incentives.
It has increased the maximum possible funding available under the Research, Technology and Innovation Competitive Grants Initiative and launched a new €10m fund for SME companies to help build international competitiveness.
The new maximum possible funding available under the Research, Technology and Innovation Competitive Grants Initiative has been increased to €650,000. EI said this is aimed at stimulating companies to undertake ambitious R&D projects that will result in innovative new products and processes emanating from Irish industry.
Enterprise Ireland's Dan Flinter says the new revised funding responds to the National Development Plan objective of more balanced regional development, by allocating more favourable packages of support to companies located in the regions.
'The needs of our clients were at the forefront of our thinking in revising our funding approach. The new approach clearly outlines the type of funding available, who is eligible, how to apply and how decisions are made,' he said.
The new approach also applies to indigenous clients of Shannon Development.
