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Enterprise Ireland - Anyone any experince?

  • 21-01-2009 11:04pm
    #1
    yop
    Moderators, Home & Garden Moderators, Regional Midwest Moderators, Regional West Moderators Posts: 16,724 Mod ✭✭✭✭


    Guys
    Has anyone successful achieved a grant from EI? I was wondering the timescales ROUGHLY from application to the monies been handed out as they dont give an idea without a full application.

    I am thinking of starting up on my own and it would depend on an EI grant but they wont tell me IF I was achieve a grant the timescales involved!

    Thanks


Comments

  • #2
    keefg
    Registered Users, Registered Users 2 Posts: 3,187 ✭✭✭keefg


    yop wrote: »
    Guys
    Has anyone successful achieved a grant from EI? I was wondering the timescales ROUGHLY from application to the monies been handed out as they dont give an idea without a full application.

    I am thinking of starting up on my own and it would depend on an EI grant but they wont tell me IF I was achieve a grant the timescales involved!

    Thanks

    What type of grant have you/will you apply for?

    There are some very strict criteria about what you can & can't spend your funds on. Most grants are calculated on a % of wage costs so you will need to start there. Work out your wage bill then you can allocate a % of that to other areas of the business.

    Also, in my experience with EI they don't "hand out" any money up front. I got a large feasibility study grant from EI but I had to spend the money first and claim it back later.

    There is a LOT of paperwork involved and some of my claims took months to be paid out by EI but in my case it was worth it.

    So to answer your original question, it took me about 12 months from my first application to my final claim payment.

    Feel free to PM me if you have any other Q's.


  • #3
    patftrears
    Closed Accounts Posts: 174 ✭✭patftrears


    keefg wrote: »
    What type of grant have you/will you apply for?

    There are some very strict criteria about what you can & can't spend your funds on. Most grants are calculated on a % of wage costs so you will need to start there. Work out your wage bill then you can allocate a % of that to other areas of the business.

    Also, in my experience with EI they don't "hand out" any money up front. I got a large feasibility study grant from EI but I had to spend the money first and claim it back later.

    There is a LOT of paperwork involved and some of my claims took months to be paid out by EI but in my case it was worth it.

    So to answer your original question, it took me about 12 months from my first application to my final claim payment.

    Feel free to PM me if you have any other Q's.
    to echo above, CORD is the only free money grant from EI.
    The rest is all percentage stuff.
    You spend 20k and they give you back 10k, you have to spend the money first before you get anything back.
    Same with when you raise money they will match what other investors put in. You raise 500k off investors EI will match that with 500k to give a million.


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