Innovation Voucher

About this scheme

Innovation Vouchers help SMEs build connections with Ireland and Northern Ireland's publicly funded Knowledge Providers (higher education institutes, public research bodies) to explore business problems and uncover opportunities, when a company lacks the time or know-how to develop innovative solutions itself. They can be used for any kind of innovation, such as new product/process/service/business model development, new service delivery and customer interface, feasibility for new products or services, and innovation/technology audits. A Standard Voucher provides €10,000 worth of time with an expert third-level researcher; a Co-Funded Voucher covers project costs of up to €20,000, with the company contributing 50% in cash, typically used once a company has exhausted its standard vouchers. It is aimed at SMEs (fewer than 250 employees, turnover under €50 million and/or balance sheet under €43 million) that are limited companies registered in Ireland with a CRO number; unusually among Enterprise Ireland schemes, applicants do not need to be an existing Enterprise Ireland client. Vouchers exclude VAT and are valid for 18 months, with usage and reapplication limits set out in Eligibility Criteria.

Who can apply

• Must be a small or medium-sized enterprise (SME): fewer than 250 employees, and annual turnover not exceeding €50 million and/or annual balance sheet total not exceeding €43 million
• Must be a limited company registered in Ireland with a CRO number
• Applicant does not need to be an Enterprise Ireland client or have an Enterprise Ireland Development Advisor to apply
• Maximum of 4 vouchers per company over a 5-year rolling period, at least one of which must be a 50-50 Co-Funded voucher; applicants may reapply for vouchers after a 5-year rolling period
• Only one 'active' voucher may be held at any time; a voucher must be redeemed by the knowledge provider (and its account settled in full, including VAT) before a subsequent voucher can be applied for
• Companies approved for more than €300,000 in Enterprise Ireland funding in the previous 5 years are not eligible for a fully funded Standard €10k Voucher, but may still apply for a Co-Funded Voucher if other criteria are met
• Vouchers are exclusive of VAT; VAT charged by the knowledge provider must be settled separately by the company
• Vouchers are accepted by registered knowledge providers in Northern Ireland as well as the Republic of Ireland, under Enterprise Ireland's arrangement with Invest Northern Ireland
• Vouchers are valid for 18 months from date of issue
• Ineligible activities: statutory/legislative compliance costs; standard training courses; software purchases and software development; aid promoting/subsidising export costs; internships for students; advertising material design/production and branding; sales activities; business plans, business strategy, economic appraisals, cost analysis, general business consultancy; standard website development and online optimisation; standard mobile app development; market research/surveys readily available from the private sector; calorie & nutritional analysis or recipe development for Food Service Outlet menus; activities supported by mainstream Local Enterprise Office funding; activities unlikely to lead to commercial enterprise capable of generating jobs/exports; training and mentoring; marketing activities/plans/strategies; and legal, commercial law, patents, taxation or customs advice/assistance
• If a solution to the knowledge question already exists in the marketplace, the application is likely to be rejected on the basis the activity could be undertaken by the private sector

How to apply

1. 1Read the eligibility requirements (no need to be an Enterprise Ireland client or have a Development Advisor)
2. 2Apply via the Enterprise Ireland Online Application System (applications via any other method, e.g. Word documents, are not accepted); first-time applicants must register to create their own account; Standard and Co-Funded Voucher applications may be submitted at any time, with evaluation normally taking 4 weeks; for a Co-Funded Voucher, the company and knowledge provider jointly agree the work programme in advance of applying (a knowledge provider does not need to be identified in advance for a Standard Voucher)
3. 3If successful, the company receives a voucher (valid 18 months) and is free to use it with any participating knowledge provider
4. 4At project completion, the company signs the 'Company Declaration at project completion' on the back of the voucher confirming the knowledge provider completed the project satisfactorily (a letter or email is also acceptable confirmation)
5. 5The knowledge provider (college/institute) invoices the company for services provided; the voucher may be used in full or part payment against the invoice (VAT is excluded and must be paid separately by the company)
6. 6The company submits the signed voucher/completion confirmation, a copy of the invoice, and a completed claim form electronically to Enterprise Ireland's Institutes Contracts Unit; if any required information is missing, the claim is returned
7. 7To reissue a lost/expired digital voucher, email innovationvouchers@enterprise-ireland.com with company name, CRO number, and voucher/application number