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Starting and developing your own business – How Enterprise Ireland can help - Tyndall Innovation Forum - 25 th May 2006 What I will cover … Types of Businesses Enterprise Ireland supports Type of support that is available Some critical success factors
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Tyndall Innovation Forum - 25th May 2006
- HIGH POTENTIAL START UP BUSINESSES -
What is a ‘High potential start-up’ business ?
A wide range of people …
- The majority of original promoters of start up companies EI supports have technical background / qualifications
Business Innovation Centres
Funding to ‘explore new opportunities’
- Small grants – up to €65k
RTI – grants and repayable grants
Other EI supported funding sources:
Enterprise Ireland Space
Proof of Concept
Basic Research / Scholarships
Basic Research Infrastructure
Where EI fits in the Research Support System
- RTI Scheme- Support towards company led R&D. Up to €650k in support.
- Innovation Partnerships - supporting R&D collaboration between colleges and companies. Assistance from 35% to 75% to max of €190k.
- Intellectual Property Assistance Scheme - advice on the protection, development and commercialisation of patentable technology. Some financial assistance may be available.
- Innovation Management - Training in R&D and Technology Management (70% grant aid)
- R&D Awareness Initiative – 3 days consultancy for companies looking at first time R&D.
- Fusion - Intertrade Ireland scheme offering funding for a technology graduate for 18 months
Status of EI client companies in 2004
1 Customer knowledge and focus & Building a strategic alliance.
- Trust and commitment
- Understanding the value chain of the customer and where the product fits
- Understanding the customer purchasing process in detail and sign off
2 Product offering based on clear technological advantage.
3 Strong, experienced management team.
4 Experienced sales and marketing professional in the team.
5 Well funded or with access to strategic funding from the outset.