Regional Enterprise Development Fund – Open for Applications
Minister Mary Mitchell O’Connor and Minister for State Pat Breen this week announced a €60 million competitive fund to support the Regional Action Plan for Jobs and the Action Plan for Rural Development. The fund will have four streams with varying investment levels and Enterprise Ireland is currently seeking applications under the four streams.
Major Change Projects – €2m up to €5m per project,
Regionally Significant Projects – €250,000 up to €2m per project,
Local & Community Enterprise Development Projects – €50,000 up to €250,000 per project
Industry Clusters– €50,000 up to €250,000 per project.
A maximum of up to 80% is available for projects, with the balance to be leveraged from the private, community or public sector. The Fund will support major new collaborative and innovative initiatives that can make a significant impact on enterprise development in the region/across regions or nationally to build the unique USP capabilities to grow the regions. This will be achieved by co-financing the development and implementation of collaborative and innovative projects that can sustain and add to employment at a national; regional, county and community level.
The overarching aim of this Fund is to drive enterprise development and job creation in each region throughout Ireland. Projects must be impactful, with the principal impact being jobs. A feasibility grant of up to €22,500 or 50% of eligible costs (whichever is the lesser) can be offered to help promoters develop projects for progression and consideration.
Details of the competitive process are available on Enterprise Ireland’s website here. The closing date for applications is 18th August 2017.