€1.5 Million Overall Fund For Existing LEO Clients
Are you looking for an investment for your new product launch or market opportunity?
Are you an LEO (Local Enterprise Office) client?
Would your Brexit proofing measures benefit from an investment of up to €25,000?
“The LEOs will have an overall investment fund of €1.5 million. This fund will be available through the network of 31 Local Enterprise Offices, targeting investor ready LEO Clients who wish to start, grow, or develop innovative Micro Enterprises” Sheelagh Daly, Head of Enterprise & Chair of LEO Network.
What does the LEO Grant Investment cover?
The LEO Grant Investment of up to €25,000 may be considered for the following tasks outlined under. If you secure an investment under the programme you will be required to meet with your Local Enterprise Office to assess your funding requirements and agree the eligible costs associated with your development prior to any drawdown of funding. Following this meeting your Local Enterprise Office will issue a formal letter of offer which will outline the terms and conditions required to drawdown the grant investment.
- Capital Expenditure associated with your new innovative development
- Salary Costs associated with your new innovative development
- Consultancy, Research, Innovation, Marketing Costs associated with your new innovative development.
- General Overhead Costs including working capital costs associated with your new innovative development
What innovative developments are eligible?
- New Product
- New Process
- New Market
- Market Diversification Strategy
- Make addition to the management team
The LEO Innovation Investment Fund is targeting existing LEO Clients with an innovative business idea. This is a call for proposals from ‘Investor Ready’ LEO clients (client with short term investment or funding requirements in the next six months) in the manufacturing and traded services sectors who wish to start, grow, or develop innovative micro businesses
Why Should You Apply?
- There is a €1.5 Million Investment Fund and targeted business supports on offer to help support your business
- A potential €25,000 Grant Investment available from your Local Enterprise Office
- Investor Ready Programme and one to one mentoring
- Avail of a suite of targeted business supports and mentoring from your Local Enterprise Office.
- Open to existing LEO clients with a compelling and innovative business idea.
- Opportunity to pitch to panel of investors
LEO Client Definition
An existing LEO Client is defined as a client that has received M1 Support (Investment) and/or currently resides in the LEO Projects Portfolio and/or has received M2 Support (Training, Mentoring, etc) in the past 3 years prior to the date of application
Existing LEO M1 Clients with an innovative development plan which might include
- New Product Launch
- New Process Development
- New Market Opportunity
- Diversifying your existing marketing strategy
- Changing your Business and/or Revenue Model
- Introducing Brexit Proofing Measures to sustain the future development of your business
- Making an addition to your Management Team
Existing LEO M2 Clients trading for greater than 12 months
- Manufacturing businesses with innovative products or processes with potential to export
- Traded Services businesses who have an innovative service offering which has the potential to serve international markets
- All sectors are eligible to apply but priority will be given to new start ups in the following sectors: Software/IT, Digital, Creative and Gaming, Food and Agri, Healthcare and Lifesciences, Traded Services included Fintech, Environmental and Cleantech
Submit Online Application and mandatory video on or before July 31st 2017
Are you are thinking of investing in Ireland?
Read our short blog post 5 Reasons Why Businesses Should Be Investing In Ireland