Feasibility Grants - Who Qualifies?

A feasibility study grant can be used to assess the viability of a business proposal. This can include research and development, prototype production, test marketing consultancy advice, financial projections, the preparation of a formal business plan and generally in finding out whether a service or a new product should be taken to the production stage. It is important to remember that if a project is grant aided for a feasibility study/business plan that it will not be granted aid until a complete feasibility study/business plan of an acceptable standard has been submitted to the Enterprise Board.
 
The following studies are eligible:

• Market research
• Preparation of costings and financial projections
• Assessment of suitable plant, equipment etc.
• Sourcing raw materials
• Other research or studies related to the development of an economic project
• Prototype development
• Development of a business plan
  

What costs are grant aided?

• Eligible costs may include:
• Wages/salaries - €7.60 per hour
• Expenses such as travel - €0.19 cent per mile, subsistence - €32 per 24 hour period
• Postage, telephone etc.
• Expenditure on prototype development
• Consultancy fees

What information is required for grant applications?

• Information on promoter:
• Name of promoter
• Address
• Telephone number
• Qualifications
• Work history and background
  
  Details of study or project:
  
  
• Work to be done
• By whom, time involved, estimated costs with details of travel and other expenditure
• Objectives of study or project
• Include, if relevant, products to be developed , markets, customers, competitors and estimated employment
  
  Employment
  
  
• Timeframe for completion
• Project methodology
• All other relevant information
• (Give as much information as possible, to indicate clearly the nature, extent and purpose of the study or project)
  
  Expenditure expected to be incurred
  
  
• Wages/salaries
• Travel
• Consultancy fees
• Subsistence
• Prototype costs 

Other expenses

( The estimate of expenditure should be considered carefully as subsequent over-expenditure will not be grant-aided.)

General conditions:  
Grants may be provided up to a maximum of 50% subject to a limit of €5,100 for any single project towards the cost of feasibility studies and preparation of business plans aimed at assessing the viability of projects.

Applications on the relevant form must be made and approved prior to the commencement of the study. Studies in sectors of over-capacity or products studied previously with negative results will not normally be approved.

In addition, feasibility study grant promoters must submit an auditors certificate to certify certain expenses such as the wages/salaries of the person(s) involved in carrying out the project, travel expenses and other expenses.