Priming Grants
Priming Grant for start up businesses up to the first 18 months of trading.
A Priming Grant is a business start up grant available to micro enterprises within the first 18months of start up.
The maximum grant level is €150,000
Feasibility Grants
Feasibility/Innovation Grants are designed to assist the promoter with researching market demand for a product or service and examining it’s sustainability. It includes assistance with innovation including specific consultancy requirements, hiring of expertise from third level colleges, private specialists, design costs, patent costs and prototype development costs.
The maximum Feasibility/Innovation Grant payable is 50% of the investment or €20,000 whichever is the lesser.
Promoters who have availed of Feasibility Grants in the past are eligible for support subject to the overall grant limits of €150,000 and the appropriateness of the proposal.
Business Expansion Grants
Business Expansion Grants for business trading for a period longer than 18 months.
A business Expansion grant is designed to assist the business in it’s growth phase after the initial 18 months start up period.
Promoters may not apply for Business Expansion grants until 18 months after the final drawdown of payment in respect of a Priming Grant. E.g. If a promoter was approved for Priming Grant and did not draw it down and is in business for more than 18 months then the promoter may only apply for Business Expansion Grant.
The maximum grant level is €150,000
Refundable Grants
All grants allocated by the Board under priming & business expansion grants are on the basis that 60% of the funds allocated will be direct grant aid and 40% will be refundable.
No repayments on the refundable element of the grant will be requested for the first two years of operation. The refundable aid will then be repaid over years 3, 4 and 5 at 3% interest rate per annum.