The Enterprise Ireland Exploring Innovation Grant, formerly known as a Technical Feasibility Study Grant, aims to support better planning of R&D, Innovation or International Collaboration projects through;
- Encouraging companies to do some strategic thinking around disruptive technologies and taking time to look outside of their own organisations for inspiration and for guidance. For R&D, this could include a review to determine the current status of scientific or technical knowledge in the area.
- An investigation of solutions that may be available from the 3rd level sector. This may include searches of the Knowledge Transfer Ireland website and discussions with one or more of the Technology Centres/Gateways in order to identify Research Partners and existing IP if appropriate.
- Prototype development if appropriate in order to assist in the evaluation of project options. (Note that this scheme is not intended to support the actual development of new products, processes or services).
- Analysis of the commercial feasibility of the project – resources required, risks and potential return on investment. This could include interaction with potential customers.
The outputs should include a project plan that could form the basis of an application for R&D or other relevant funding from Enterprise Ireland.
Who is Eligible?
You are eligible to apply for the Exploring Innovation Fund if you are an Enterprise Ireland client or potential client, and meet the following criteria:
- Engage in an eligible service activity or manufacture in the Republic of Ireland
AND - have 10 or more employees.
What is the Maximum Grant and What Costs are Eligible?
The maximum grant funding available for an Exploring Innovation study is 50% of eligible expenditures to a maximum grant of up to €35,000. Applications are considered on a case-by-case basis and the level of funding will be determined following the assessment of;
(a) the merits of providing grant support to the activity set out in the application;
(b) the need for financial support;
(c) previous funding provided to the company;
(d) potential for employment and sales growth.