There are two kinds of growth grants – I’ll go into detail on them below.
1. Priming Grant
Priming grants are for pre-start-ups, up to businesses that have been trading for up to 18 months. It’s essentially a kickstarter fund, which will help to get the business off the ground. This was the first one I received from the LEO and really helped me get things up and running.
You can receive up to €50,000 from your LEO. If you take it a step further, to Enterprise Ireland, you can receive up to €150,000. It’s an incredible funding opportunity!
Hear Enda explain the priming grant in his own words in the clip below.
The grant is broken down into a 50% matching grant. For example, if you spend €10,000 on a piece of equipment that’s been approved for the grant, you get €5,000 back. Salary funding is different though. You have x amount of money per role, depending on the role – the maximum of which can be €15,000. You get half of that amount on recruitment of the person, then half when they’ve been working for 6 months.
This grant is best suited to those trading or manufacturing internationally, or with the potential to do so.
To learn more about the priming grant, click here.
2. Business Expansion Grant
For a business that’s been trading longer than 18 months. It’s also suited to those trading or manufacturing internationally, or with the potential to. It’s also naturally the next step after a priming grant.
This grant is up to €80,000, or €150,000 if you take the further step to Enterprise Ireland. It covers salaries, innovation costs, marketing, consultancy, and capital items.
To learn more about the business expansion grant, click here.
Hear Enda give his insight on the expansion grant in the clip below.