Following our blog from last year where we provide you with 10 great reasons to move your business to Ireland, I would like to emphasize the great financing possibilities that a startup would have access to through the Irish governmental programs.
Enterprise Ireland is the main and the biggest funding platform in Ireland, set up by the government, to assist start up in Ireland. It allows you to invest and get investment all together, depending on your business goals.
You can check the list of the provided services and see if you find anything that you would like to proceed with. Through the Enterprise Ireland Development Adviser you can access different services, ranging from funding support, export assistance to getting introduced to the suitable contacts for your business growth. The main area of Enterprise seems to be support for the Research and Development area, for which they invested €72 million and for which you can also receive tax credits of 25% under the R&D Tax Credit Scheme.
For example, Enterprise Ireland allocated only in the first half of 2016 €500,000 for the fintech start-ups, and another €500,000 for agritech ones.
Enterprise Ireland works with a number of SMEs, large companies and start-ups deemed as high potential ones. However, if you are a “locally traded service company” or a “micro-enterprise” of 10 employees or less, then you can receive support through the Local Enterprise Office instead.
You will be able to access the grants scheme if you will be interested to do a feasibility study before you put the basis of your company, or receive a priming grant within the first 18 months of your company incorporation date, or you are looking for a boost to help you develop and expand after the first year and half since company set up. Each grant scheme and program have their own eligibility criteria and they can come up to €150,000 if your Firm will be able to present a well prepared business plan.
Based on the success of the Irish company, the entrepreneurs have also the incentive of being also eligible to receive a work permit and residency visa in Ireland.
Healy Consultants Group PLC will be able to assist you with the grant applications and preparation of a feasible business plan to apply for the grants and funding with the governmental authorities and also securing the employment visa. Email us at email[at]healyconsultants[dot]com or call us at +65 6735 0120 to find out how we can help your business.