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innovation vouchers

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  • 15-04-2014 10:04pm
    #1
    suevic
    Registered Users Posts: 18 ✭


    I'd love to avail of the innovation voucher scheme, but is it absolutely necessary to register as a company first. I'm trying to develop a prototype myself and I believe the IV would help make something a bit more refined and presentable, but I don't understand the point of having to be a registered company when, until I have a viable product (ie: a decent prototype) the stage where I need to set up as a company is, in my view anyway, a bit further down the line.
    The IV scheme is a great idea and is supposedly easily accessible, but registering a company is a big step, thus a major obstacle.
    Anyone had experience of this or any advice?


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    #2
    Meathlass
    Registered Users Posts: 3,023 ✭✭✭Meathlass


    Yes, I'm afraid you need to be a limited liability company to avail of the IV scheme. There's no way around this. Maybe contact EI and explain your prediciment and they may be able to point you in the direction of another more suitable scheme.

    Don't forgot you also have to pay 23% Vat on the IV as well.


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    #3
    suevic
    Registered Users Posts: 18 ✭suevic


    Thanks meathlass. I want to sit down with EI sometime soon anyway. I was wondering what the vat was also, thanks again. The prototype I want to build could probably be made just as well by any group of sixth year students at one of my local schools, I might not need Athlone IT. They might help me out for exam credits.


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    #4
    Peterdalkey
    Closed Accounts Posts: 2,091 ✭✭✭Peterdalkey


    These vouchers are only available to limited companies as advised above. They are an SME program and not intended for individuals. You may well qualify for a feasibility study grant, talk to your local enterprise office (LEO) as they are now called. These grants are generally funded on a 50:50 basis.


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    #5
    Meathlass
    Registered Users Posts: 3,023 ✭✭✭Meathlass


    suevic wrote: »
    Thanks meathlass. I want to sit down with EI sometime soon anyway. I was wondering what the vat was also, thanks again. The prototype I want to build could probably be made just as well by any group of sixth year students at one of my local schools, I might not need Athlone IT. They might help me out for exam credits.

    Yes your LEO is your first step not Enterprise Ireland. Meet with them and have a chat as to what's available in your area.


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