Innovation Vouchers

Under this initiative, eligible SMEs can apply for vouchers worth €5,000 or €10,000, depending on the administering body (e.g., Enterprise Ireland or Local Enterprise Offices). These vouchers can be used to access expertise and services from registered knowledge providers, including universities, institutes of technology, and state-funded research organizations.

The application process is straightforward and can be completed online through the Enterprise Ireland Online Application system. SMEs can apply for standard vouchers during specific open calls or submit applications for co-funded vouchers year-round. Once approved, the company has 12 months to use the voucher and collaborate with a chosen knowledge provider to execute their project.

The Innovation Vouchers can be used for various innovation-related activities, such as new product or process development, new business model development, innovation management training, and technology audits. However, they cannot be used for routine business expenses, standard marketing activities, or equipment purchases.

One of the key benefits of this program is that it allows SMEs to engage in research and development without requiring significant upfront investment. The voucher covers the agreed project costs (excluding VAT), which must be paid separately by the company. Additionally, any intellectual property generated through the project typically belongs to the company unless otherwise agreed with the knowledge provider.

For the purposes of the Innovation Voucher Initiative, a small and medium-sized 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 250 and has an annual turnover total not exceeding €50m and/or an annual Balance Sheet total not exceeding €43m. (Exclusions: small and medium-sized enterprises in the agricultural sector are excluded in line with State aid guidelines).