Eibhlin Curley of Dublin City Enterprise Board explains the grant application process..
Eibhlin Curley Assistant CEO of Dublin City Enterprise Board and Startup Awards Judge explains the grant application process..
Eibhlin Curley Assistant CEO of Dublin City Enterprise Board and Startup Awards Judge explains the grant application process..
Grants & Financial Support
Dublin City Enterprise Board’s priority is job creation and exports for micro businesses.
Eligibility for financial support
We provide financial assistance to certain types of businesses only.
Irish businesses that are eligible for support include businesses that export a service, for example, selling technology outside Ireland, Irish businesses that manufacture an innovative product in Ireland for example a bakery or tourism businesses that attract foreign tourists to Ireland are also eligible for financial support.
County & City Enterprise Boards can help small businesses with 10 employees or less. We can help, owner managers of established businesses, start up businesses and Entrepreneurs thinking of starting a business.
Enterprise Ireland can help businesses with over 10 employees. They also fast track certain businesses that will achieve high growth businesses that will rapidly grow to 10 employees and a turnover over €1 million within 3 years (High Potential Start Ups, usually in the technology sector).
Both agencies are funded through the Department of Jobs, Enterprise and Innovation and EU Structural Funds, so there can be no duplication of funding.
Types of grants available
Business Development funding is available for established businesses. Funds can be used for new employee salaries, marketing and manufacturing equipment and fit-out costs.
Priming funding are for new businesses and help fund salaries, marketing and equipment costs. They are for businesses that are trading less than 18 months.
Feasibility/ Innovation grants which help towards prototype development, market research and patent costs.
The Priming grants and Business Development funds are partly refundable.
The average grants in Dublin City Enterprise Board are Business Development €20,000, Priming €12,000 and Feasibility €7,500 depending on the number of new jobs created.
Application Process
An application form and the promoter’s CV is required for feasibility study/ innovation grant applications. In the case of Priming and Business Development funding a Business Plan, C.Vs, 12 month projected cashflow and 3 years of projected Profit & Loss accounts are required. For existing business the applicant must submit their recent accounts.
The applicant must make a strong case and provide as much evidence as possible of commercial viability, job creation and exports.
Key information includes;
1. Business
2. Promoters
3. Product/Service
4. Competitive Advantage
5. Customers
6. The Market
7. Competition
8. Revenue Model – how is your business going to make money?
9. Funding
10. Commercial Challenges
Assessment
The County & City Enterprise Boards work on behalf of Ireland Inc. The priorities are job creation and exports. Commercial viability of the grantees is essential.
The applicant meets an Enterprise Board executive who explains the process, pre-empt any queries that the Evaluation Committee might have and ensures that there is comprehensive information for the assessment. The written grant applications and supporting documentation (Business Plan and financial information) are circulated to the Evaluation Committee in advance of the meeting and decision making. There are five people on the Evaluation Committee; an Accountant, Bank Manager, Business person, Enterprise Ireland Manager and Local Authority Manager.
The Evaluation Committee make recommendations about whether the application should be rejected, deferred (if they need clarification on particular issues) or approved. In the case of an approval, they will specify the level of funding and which costs in particular should be funded. They might also include some terms and conditions that apply to the funding. Their recommendations are circulated to the Board of Directors along with a summary of the application. The Board make the final decision. There are 14 people on the Board of Directors. Neither the Evaluation Committee nor Board members are paid for their contributions.
The reason why applications are rejected is because of sector, deadweight, displacement and commercial viability.
Grant claims
A business Tax Clearance Certificate is required for all payments. Payments towards salary costs are based on payslips of full-time employees. The payment is paid in two instalments. The first month’s payslip of the new employee and the second instalment is paid on the 6 month’s payslip. All over approved expenses are paid on a receipts basis (excluding VAT), between the Board approval date and the expiry date of the grant offering. No retrospective expenses are paid for costs incurred before the Board approval date.
Follow Up
The County & City Enterprise Board have regular follow up with grant clients and carry out an annual employment survey of all businesses that have received financial assistance to identify the number of jobs sustained and created.
Summary
· County & City Enterprise Boards financially support innovative niche market businesses involved in manufacturing or exporting a service
· you must be creating at least one new full-time job
Don’t forget County & City Enterprise Boards offer business advice, training, networking and mentoring to a wider range of businesses and potential Entrepreneurs too. To find details of your local County & City Enterprise Board, check out www.enterpriseboards.ie
Eibhlin Curley
