What is the Innovation Voucher?
The Innovation Voucher initiative was developed to build links between Ireland's public knowledge providers (i.e. higher education institutes, public research bodies) and small businesses. Innovation Vouchers worth €5,000 are available to assist a company or companies to explore a business opportunity or problem with a registered knowledge provider.
Am I eligible?
The Innovation Vouchers initiative is open to all small limited companies registered in Ireland.
Are there exclusions?
Yes. Small enterprises in the agricultural sector are excluded in line with State aid guidelines.
Companies with charitable status, commercial semi-state companies, “not for profit” organisations, trade associations, company representation bodies such as Chambers of Commerce, Sports Clubs and other non-commercial bodies or associations are also ineligible to participate in the innovation voucher initiative.
Small Company Definition: For the purposes of the Innovation Voucher Initiative, a Small Enterprise is defined as a company or (if part of a group) a group of companies where the total number of full-time employees in the company (or the entire group) is less than 50 and has either an annual turnover and/or an annual Balance Sheet total not exceeding €10m. (Exclusions: small enterprises in the agricultural sector are excluded in line with State aid guidelines).
Eligibility Criteria and Conditions of Use
Companies may make use of a maximum of four vouchers, one of which must be a 50-50 co-funded Fast Track voucher.
Small companies that have been approved in excess of €300,000 in de minimis funding (includes funding under the Enterprise Ireland Innovation Partnership programme) in the previous 5 years are not eligible to apply for a fully funded 5k Standard Innovation Voucher, but are eligible to apply for a Co-Funded Innovation Voucher provided they satisfy all other eligibility criteria.
A company may have one ‘active’ voucher at any point in time. Companies should ensure that the voucher has been redeemed by the knowledge provider before applying for a subsequent voucher.
Companies will not be eligible for further vouchers until their accounts with the knowledge providers are settled in full (including the payment of VAT).
Your voucher will also be accepted by registered knowledge providers in Northern Ireland as part of Enterprise Ireland’s arrangement with Invest Northern Ireland.
Please note that Innovation Vouchers are EXCLUSIVE OF VAT. You will be charged VAT by the knowledge provider and this cost MUST be settled separately by the company.
