All small limited companies with a company registration number are eligible to apply for an Innovation Voucher.

Companies may make use of a maximum of two 100% publicly funded vouchers and one 50-50 co-funded Fast Track voucher.

Small companies that have received in excess of €300,000 funding from Enterprise Ireland in the previous 5 years are not eligible to apply for an Innovation Voucher.

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).

Please note that the 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.

Exclusions

Small enterprises in the transportation and agricultural sectors are excluded in line with State aid guidelines.

Companies with charitable status, commercial semi-state companies and company representation bodies such as Chambers of Commerce are not eligible to participate in the innovation voucher initiative.

Legal and State Aid Basis

The Innovation Voucher Initiative can be run under the powers set out in the Science and Technology Act, 1987. The State Aid basis for the Innovation Voucher Initiative is the ‘de minimis rule’.

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 transportation and agricultural sectors are excluded in line with State aid guidelines.)