Verification & Validation: What funding is available for SME’s and Start-ups

The team members in the Verification & Validation group and TSSG as a whole have a deep and very experienced understanding of working with multiple funding institutes and agencies.  Such as Enterprise Ireland (EI), European Union Funding calls, Science Foundation Ireland, Irish Research Council and Interreg Funding Ireland.

For SMEs, small start up companies or somebody with just an idea the  V&V group recommend Enterprise Ireland’s Research & Innovation fund. Here is a brief introduction to the available funding from Enterprise Ireland, for a more in-depth look please view  Enterprise Ireland’s excellent information page on Research & Innovation funding.

EIThe most effective way to avail of funding is via the Enterprise Ireland’s voucher system. There are 2 options available. The first option, which is the most popular first step on the funding ladder,  is the Standard Voucher (Innovation Voucher). Standard €5k vouchers are available to assist a company explore a business opportunity or problem with a registered knowledge provider. You can only apply for one of these standard €5,000 vouchers during one of our open calls. You do not need to identify your knowledge provider in advance and they are valid for 12 months from the date of issue. Please consult EI’s schedule of calls when submitting your application.

The second option is the Co-funded Fast Track Application (Matched Voucher). This can be applied as a follow on from option one or as a stand alone funding request. The value of the voucher is €5,000 and the company contributes 50% of the project costs in cash. Therefore, a company may use a Fast Track voucher to cover project costs up to €10,000 on a 50-50 co-funded basis. The company and the knowledge provider jointly agree on the work programme for the project in advance of submitting an application. Companies may wish to use this option when they are no longer eligible for a standard voucher (may have used two or more standard vouchers) or where time to market is critical and the schedule for the standard call is not suitable. This voucher application can be submitted at any time and a response may be expected within four weeks.

Please note that Innovation Vouchers are EXCLUSIVE OF VAT. You will be charged VAT by the TSSG and this cost MUST be settled separately by the company.

Innovation Partnership Programme

If you have an already established business and you wish to take it to the next level, EI have the very successful  Innovation Partnership Programme. They can help your company to access the latest skills and expertise from research institutes throughout Ireland.   The Innovation Partnership Programme can provide up to 80% of the cost of research work to develop new and improved products, processes or services, or generate new knowledge and know-how.

In an independent survey of companies that participated in the Innovation Partnership Programme:

  • 96% of respondents would be willing to recommend the Programme to other businesses.

  • 71% of participant companies surveyed said that their objectives were largely or fully achieved.

  • Each €1 of funding invested by Enterprise Ireland in Innovation Partnerships delivered €7.71 Net Turnover Impact at the company side.

Terms & Conditions apply on all funding calls.