Waterford News

3rd call of the Regional Economic Development Fund

South East Regional Enterprise Plan to 2020 1The 3rd call of the Regional Economic Development Fund has been announced with €45m being made available through Enterprise Ireland. The closing date for project submissions is October 17th 2019.

There is also a feasibility study fund of up to €15,000 or 50% of eligible costs, whichever is lesser that can be applied for up to 2nd September 2019.

To be eligible all applicants must be registered as a Designated Activity Company, (DAC) or a Company Limited by Guarantee, (CLG) under the Companies Act 2014. The fund is closely linked to the objectives outlined in the Regional Enterprise Plans; Future Jobs Ireland and Enterprise Ireland’s “Powering the Regions” initiatives.

There are three Streams to this year’s call, listed as:

  1. Stream One to support Strategic Change Projects with major regional, multi-regional or national sectoral initiative: Grants from €500k up to €5m per project in funding towards capital and current costs, at a maximum grant rate of 80% of actual costs. These initiatives should be focussed on achieving defined enterprise development outputs and impacts.
  2. Stream Two for Regional Strengthening Projects, grants from €100k up to €500k per project in funding towards capital and current costs, at a maximum grant rate of 80% of actual costs. These projects should be focussed at local, county or regional initiatives that have defined metrics for enterprise development in the area.
  3. Stream Three to support significant Enterprise Clustering Initiatives with grants of €50k up to €350k per project in funding towards current costs, at a maximum grant rate of 80% of actual costs. These projects should support industry-led groups to maximise the benefits of collaborative opportunities where the results of the activity will have identifiable and measurable impacts on their business.

Note 1: Balance of funding of min 20% may be from the private, community or public sector (including HEIs and Local Authorities). The matching funds of 20% can be in cash or kind (with a cash minimum of 10%).

Note 2: In respect of Enterprise Clustering Initiatives, the balance of funding of a minimum of 20% may be provided from companies within the cluster in addition to private investment funding.  

The Ireland South East Development Office is happy to assist in developing project proposals and forming collaborations/consortiums etc. Early engagement on these funds is important rather than waiting until the last minute so if you or any colleagues are keen to utilise us in developing proposals or forming collaborations, please let us know as soon as possible.

The region has performed well in the previous two calls and it will be important to take full advantage of this fund again.

For more information on the REDF please see: https://www.enterprise-ireland.com/en/start-a-business-in-ireland/information-store-for-start-ups/regional-enterprise-development-fund.html

For the South East Regional Enterprise Plan see: https://dbei.gov.ie/en/Publications/Publication-files/South-East-Regional-Enterprise-Plan-to-2020.pdf

For Future Jobs Ireland: https://dbei.gov.ie/en/Publications/Future-Jobs-Ireland-2019.html

 

 

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