Grant boost for innovative Fingal firms
FOUR up-and-coming Fingal businesses are sharing a €100,000 funding boost under a pilot initiative aimed at helping companies improve competitiveness by developing new innovative processes, products or services.
Some 58 local firms competed in the €1.5m ‘Innovation Investment Fund’ established by the network of Local Enterprise Offices across the country.
The four businesses from Fingal delivered successful pitches and were awarded €25,000 each towards the development of new innovative processes, products or services.
They were Corr Optical from Baldoyle, Everest Granola Ltd. from Blanchardstown, Howth Beer Ltd (T/A Hope Beer) from Howth Junction and Relodata Ltd. from Malahide.
In Dublin the selection process was extremely competitive with over 150 applications received for the grant from businesses across the county.
After the assessment stage, 28 of the 150 applicants were selected to participate in a highly focused Investor Ready Programme which assisted them while implementing their innovative development plan.
At the conclusion of the programme each applicant was then given the opportunity to make a formal pitch to an investor panel to potentially secure the LEO Innovation Investment Fund of €25,000, with 14 Dublin businesses successfully receiving awards.
Fingal County Council Chief Executive Paul Reid, welcomed the success of the four Fingal businesses in securing funding. ‘I want to congratulate our small business owners on successfully securing funding from the LEO Innovation Investment Fund and hope that it enables them to innovate, grow and find new markets.
‘Fingal is a good place to do business in and small business is the life-blood of our local economy so Fingal County Council, through our Local Enterprise Office, is working to ensure that those running or starting up small enterprises are given the support structure that they need to grow and develop.’
Wim De Jongh of Hope Beer and Seamus Tighe of Everest Granola Ltd.