Innovation Vouchers

The Innovation Voucher Programme was developed to build links between Ireland's publicly funded Knowledge Providers (i.e. higher education institutes, public research bodies) and small and medium-sized 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.

Innovation is essential if you want to stay ahead in competitive and fast-changing markets. But, you might lack the time or know-how to develop the types of innovative solutions that could set your business apart. That’s where Innovation Vouchers from Enterprise Ireland come in. Each Innovation Voucher gives you €5,000 worth of time with an expert, third-level researcher to help you tease out an idea, develop a new product, or crack an important business or technical challenge.

In an independent survey of companies that participated in the Innovation Voucher Programme:

97% of respondents would be willing to recommend the Programme to other businesses. Increase in company turnover of €11.83 per €1.00 of Enterprise Ireland investment in the Voucher Programme.

Permitted uses for a Voucher Innovation Vouchers can be used for any kind of innovation such as:

• new product/process development;
• new business model development;
• new service delivery and customer interface;
• new service development;
• tailored training in innovation management;
• innovation/technology audit.

Vouchers can be exchanged for knowledge transfer projects from the knowledge provider.

For the purposes of this initiative, a knowledge transfer project is defined as one that transfers knowledge of a scientific, technological or innovative nature that it is new to the business. The business may then use the new knowledge to innovate a product, process or service.

Available Voucher Types Standard Voucher

Standard €5k vouchers are available to assist a company explore a business opportunity or problem with a registered knowledge provider. You can apply for one of these standard €5,000 at any time and a response may normally be expected within four weeks. You do not need to identify your knowledge provider in advance and they are valid for 12 months from the date of issue

Co-funded Voucher

The value of the voucher is €5,000 and the company contributes 50% of the project costs in cash. Therefore, a company may use a co-funded voucher to cover project costs up to €10,000 on a 50-50 co-funded basis. The company and the knowledge provider jointly agree on the work programme for the project in advance of submitting an application. Companies may wish to use this option when they are no longer eligible for a standard voucher (may have used the maximum of three standard vouchers). This voucher application can be submitted at any time and a response may normally be expected within four weeks.

The Innovation Vouchers initiative is open to all small and medium-sized limited companies registered in Ireland.

Applications are not restricted to clients of Enterprise Ireland

Exclusions Small and medium-sized 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, holding companies, company representation bodies such as Chambers of Commerce, Sports Bodies & Associations, Sports Clubs and other non-commercial bodies or associations are not eligible to participate in the innovation voucher initiative.

Eligibility Criteria and Conditions of Use

Small and medium-sized companies may make use of a maximum of four vouchers, one of which must be a 50-50 co-funded voucher.

Companies that have been approved in excess of €300,000 (includes funding under the Enterprise Ireland Innovation Partnership programme) funding from Enterprise Ireland 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.