New fast-track innovation fund

LOCAL Enterprise Offices around the country are highlighting the new fast-track Agile Innovation Fund from Enterprise Ireland, which can give small companies rapid access to innovation funding.

The new measure has been introduced by Enterprise Ireland and can help clients of Wicklow Local Enterprise Office respond more quickly to market opportunities and challenges, including those posed by Brexit.

Offering fast-track approval and a streamlined online application process, the new Agile Innovation Fund will allow companies, including small companies, to access up to 45 per cent or 50 per cent in support for product, process or service development projects with a total cost of up to €300,000.

Responding to the export challenges and opportunities presented to companies, the new fund is designed to help companies develop new products, processes and services for new market opportunities, enabling exporters to respond quickly and maximise export performance.

Investment in innovation by Irish companies has been found to be a key factor in driving their global performance. A survey of 2,000 Enterprise Ireland clients in 2016 found that those who availed of innovation supports reported on average a 67 per cent growth in global sales.

Contact the Local Enterprise Office Wicklow for further details.