Enterprise Ireland/Local Enterprise Funding

Take2Sean

Anyone had success getting enterprise Ireland/ local enterprise funding for an existing business? Only in business for 12 months? Be interested to hear?

Meathlass

What kind of support are you looking for?

LEOs concentrate on businesses with less than 10 employees while for EI you need to be trading internationally or have the potential to be.

protelos

Hi there,

In fairness the local offices and EI are a great resource for small firms. They are not everyone’s cup of tea but better than nothing!

As stated EI would be more focused on unique technology or a real robust international plan. Since the rebrand of the LEO’s it seems that the transfer from local to EI client has become a lot easier. Therefore if your ambition is to go international keep asking/annoying your local office as to how to get onto EI’s radar.

There are great financial incentives from EI, but those who just come in looking for the $$$ generally get a cool reception. No such thing as a free brekkie etc!!! They are big on client engagement! All grants are document heavy so be prepared to fill out forms till your hand hurts.

One guy I know has said EI have been great for his firm. He did a ridiculously detailed business plan and pulls form that for all EI forms.

Others have not been so complimentary, yet they were like Rod Tidwell "Show ME the MONEY!!"

Take2Sean

I'm looking for funding support (most likely) for a new project the company is undertaking. The financials are sound and it is an international business. Services abroad using Irish contractors. Have a lot of previous experience and a track record. EI have already passed me off to LEO even though I currently trade internationally and also meet their requirements or would meet them rather (proven, not just my crackpot opinion!)

I've worked with Culture Ireland before with grants and the likes so have some experience. Finding it hard to see what the LEO's will actually support a business for. Have a meeting Wednesday so will see how it go's

Meathlass

Take2Sean wrote: »

EI have already passed me off to LEO even though I currently trade internationally and also meet their requirements or would meet them rather (proven, not just my crackpot opinion!)

To be honest EI will want you to have a track record with a LEO first. As protelos said they're heavy on engagement so you need to on the LEOs radar.

Have you considered applying for New Frontiers? Sounds like it could be a good fit and a robust validation of your business model

Take2Sean

Didn't see that before. I'm not sure if my sector is eligible but I will most definitely fill in the form now and see how I get on. Thanks for that

Duckett

For EI to be interested the project proposed will need to be projecting to deliver deliver both export sales growth and also additional employment in Ireland. That's their mandate and if you can't meet that agenda they will have limited interest. However, you should establish a relationship if possible with the EI offices in the overseas markets you serve - as said earlier they offer much more then $$$$ ..... good contacts are valuable etc ......