New Markets Validation Grant

About this scheme

The New Markets Validation Grant incentivises companies to validate business opportunities in selected new geographic markets, providing support toward internal and external costs of market research to rigorously test demand before committing resources to launch. It applies when an eligible company is looking at a new geographic market for an existing product/service, or a new product/service in either a new or existing geographic market. Eligible activities include primary/secondary market research, assessing market potential and barriers to entry, competitor landscape review, route-to-market and partner analysis, pricing/regulatory research, developing a go-to-market strategy, and participation in recognised overseas Trade Fairs. It is aimed at existing Enterprise Ireland manufacturing or internationally traded services clients with demonstrated capacity to internationalise. It provides 50% of eligible expenditure up to a maximum grant of €150,000, over a project of up to 12 months, covering costs such as salaries, overheads, travel, consultancy, Business Accelerator support, Trade Fair participation and office rental in the new market. Sales and marketing activities are excluded. This is one of two grants (with the Market Research Grant) newly launched in 2025 to help exporters diversify markets in response to US trade tariffs.

Who can apply

• Must be an existing Enterprise Ireland client (LEO, Údarás na Gaeltachta and IDA Ireland clients should contact their own agency advisor instead)
• Must be a manufacturing or eligible internationally traded services company with demonstrated capacity to internationalise
• Must have a minimum of 5 Irish employees, except HPSUs (HPSU and Non-financial HPSU companies are eligible with no minimum staff; Pre-HPSU companies are not eligible)
• Excluded sectors/activities: coal or steel; primary agriculture, fishery or aquaculture; gambling/gaming; adult entertainment; tobacco and related products; unauthorised cannabis-based products
• Eligible project types: a new geographic market for an existing product/service, or an existing/new geographic market for a new product/service (an existing market for an existing product is not eligible)
• One geographic market per application, unless two markets demonstrate synergy and can be considered a single entity
• Sales threshold test: companies with turnover under €10m are ineligible if cumulative sales of the specific product in the chosen new market exceed €200,000 over the previous 3 years; companies with turnover over €10m are ineligible if those sales exceed €400,000 over the previous 3 years (evidenced by last audited accounts)
• Company must not have previously run a sales promotion/direct marketing/PR campaign for the product in the target market in the prior 3 calendar years (participating in EI Trade Missions, being mentioned in an EI press release, attending a single trade show, or developing technical documentation do not count as a 'launch')
• Sales and marketing activities are not eligible (this list is not exhaustive): sales-meeting prep, deal closing/order processing, lead qualification/outbound contact, partner/agent appointment, promotional activities, product advertisement, website updates, SEO, social media profiles/campaigns, CRM implementation, branding; also excluded: R&D/product development, product localisation, and certification/qualification activities (except consultancy advice on market requirements)
• Project can last up to 18 months from start date, with support provided over a 12-month (232 working day) period
• Maximum eligible salary is €150,000/year per employee (excl. employer's PRSI and bonuses); total salaries and overheads capped at 80% of total project costs; overheads capped at 30% of wages/salaries; CEO/MD salary claimable up to 20% of project time (small companies) or 10% (medium/large), whichever is lesser, but not eligible at all if the CEO relocates to the market
• Consultancy costs capped at €900/day and at 80% of total project costs; Business Accelerator (EI-appointed in-market expert) capped at €1,500/day for up to 25 days, one per market
• Trade Fair support: max €75,000 expenditure, first/second-time participation only, not available to Large companies, max 2 fairs per 12-month application, max 5 employees' entrance fees, employee wages/prep time not eligible
• Office rental in the new market: up to €17,000 for up to 12 months, research use only (not sales/distribution), commercial lease required
• Any expenditure incurred before the application date renders the entire project ineligible
• Financial Data Sheet (FDS) required if cumulative EI funding exceeds €150,000 in a 12-month period, or if a new application exceeds €35,000 and an FDS was already submitted for another package in the prior 12 months
• Only one claim can be made against this grant

How to apply

1. 1Company drafts the application and shares it with its Enterprise Ireland Client Advisor, who consults a Market Advisor in the target market; an application will not be accepted without this prior consultation (food and drink companies also complete the dedicated MRG/NMVG Business Case template and discuss with Bord Bia)
2. 2Company submits the application via Enterprise Ireland's Online Application System (OAP); the project start date is the date a completed, valid application is received, and any costs incurred before this date are ineligible
3. 3For grant approvals over €5,000, the company submits audited annual accounts (under 2 years old) and management accounts (under 6 months old) to its Client Advisor (draft accounts are not accepted); an abridged Balance Sheet is required if the company avails of audit exemption; a Group structure copy is required if applicable; the proposal is suspended if required financial information is missing
4. 4If approved, the company must return acceptance of the Letter of Offer within 60 days or the offer lapses; the project should commence within 6 months of approval and be completed within 12 months of commencement
5. 5Company carries out the approved market validation research (up to 12 months / 232 working days), submitting interim and final reports before grant payments commence; Enterprise Ireland (via the Client Advisor) must be satisfied with report content and quality before paying
6. 6Company downloads and completes the New Markets Validation Claim Checklist, Claim Form, Director Statement and Progress Report template (one Excel workbook); only the Director Statement needs to be printed, signed and returned as a PDF, and the Excel worksheets must not be converted to PDF or they will be returned
7. 7Company submits Claim Forms in Word/Excel format only by email to IndustryGrantClaims@enterprise-ireland.com, with supporting documentation (invoices, payslips with individual names, bank transfer details for salary claims) saved as separate PDF files, Company Name and Project Number in the subject line, and files encrypted using the company's CES ID; only one claim may be made against this grant, and it must be submitted by the Final Claim Date in the Letter of Offer
8. 8The Payment Officer authorises the claim and submits a payment request to Finance