Looking to innovate? Apply to the Agile Innovation Fund!
Are you falling behind your competitors? Do you need a quick solution for your product? Are you keen to innovate?
Being innovative and acting fast certainly are key to survival these days. Enterprise Ireland understands the need for rapid change and that is why the new Agile Innovation Fund was introduced.
What is the Agile Innovation Fund?
Enterprise Ireland’s new Agile Innovation Fund was created in response to the threats and opportunities posed by Brexit. It allows companies in sectors with rapid design cycles to keep their advantage by offering an online application and fast-track approval process, so you can quickly engage in the innovation activity necessary to make your international growth ambitions reality.
It is called the ‘Agile’ Innovation Fund as it offers faster turnaround times from application to approval than the RD&I funds. This fund allows companies to access up to 50% in support for product, process or service development projects with a total cost of up to €300,000.
Can this fund be used to collaborate with a Technology Gateway?
Yes, the Agile Innovation Fund is one of three ways in which Enterprise Ireland can fund your collaboration with one of our Technology Gateways. Once you receive funding, you can contact your chosen Gateway, or if you are unsure of which one best suits your needs you can contact the Gateway Team on +353 (01) 708 2954 for guidance.
Who can apply for the Agile Innovation Fund?
The fund is open to everyone; both Enterprise Ireland clients and non-Enterprise Ireland clients can apply.
Am I eligible for the fund?
You are eligible to apply for Agile Innovation Funding, if:
- Your company is an Irish-based manufacturing or internationally traded services company.
- You can show adequate cash resources to implement the proposed RD&I project.
Enterprise Ireland High Potential Start-Up (HPSU) client companies are eligible to apply if:
- Sustainable revenues of €500,000 have been achieved.
- The company is EBITDA + in the previous accounting period (or previous 9 months prior to application) and can demonstrate future EBITDA + status.
- No external finance in the form of equity (subject to no double funding) has been raised in the previous six months.
How do I apply?
The application process has been made as easy and as straightforward as possible for applicants.
You can apply online at any time. Full guidance for completing each section can be found within the system. If you are an EI client, you are advised to speak to your Development Adviser (DA) before submitting an application.
Along with the application, you must submit a Project Plan. The Project Plan should be completed by the Technical Lead for the project. Details on submitting the Project Plan separately are included in the confirmation email you will receive when your online application has been completed and submitted to Enterprise Ireland.
If you are a non-EI client, there is a simple expression of interest (Outline Proposal) form that consists of one A4 sheet of questions where you will outline the basic details of the project. This allows an EI staff member to review the proposed project and follow up with recommendations.
If you are reluctant to innovate remember that,
“Innovation does not always mean developing new products. More often it means enhancing offerings with incremental tweaks.”
– Joe Madden (In-Company Research, Development and Innovation Supports Manager at Enterprise Ireland)
- For more information, see the Enterprise Ireland site
- You can also email the team at rdcoreunit @ enterprise-ireland.com
- To keep up to date on news and events follow: @EI_Innovation
- For upcoming event listings, see Agile Innovation Fund – Upcoming Promotional Events
- Read some of our client R&D insights and case studies