SME Diversification & Innovation Grant Scheme
This scheme aims to incentivise SMEs to adapt and become more resilient and address market challenges whilst offering timely support to nurture the right environment towards the potential future business growth of the enterprise.
The allocated budget for this measure is set at €8,000,000 with indicative annual thresholds of €1,600,000. The maximum grant value under this scheme is set at €200,000 part financing eligible costs up to 50%. The amount that a single undertaking may receive shall depend on the receipt of the de minimis state aid by the undertaking over any period of three fiscal years within the timeline of the project.
What are the eligible actions?
- The diversification of the output of an existing establishment into products or services not previously produced by the establishment
- The implementation of a fundamental change in the overall production process of an existing establishment
- A new economic activity related to the diversification of the activity of the establishment, under the condition that the new activity performed, is not the same or similar activity to the activity previously performed in the establishment
- The adoption of solutions that lead to the development of a significantly improved product or service
- The acquisition and integration into the business operation of solutions that are new or significantly advanced than those currently in use by the Undertaking
- Cost for leasing or rental of privately owned operational premises
- Construction or upgrading costs
- Costs of purchasing of equipment, machinery or plant
- Costs related to patents or licences
- Wage costs related to the wage of a Change Manager employed specifically through the project to drive the necessary change within the enterprise through the diversification or a fundamental change initiative
- Shipping of equipment, plant, and machinery
- Repair and maintenance of equipment and buildings.
- Insurance cost
- Training costs
- Dividends, royalties, and interest changes
- In-kind contribution
- Charges on finance leases, hire purchase and credit arrangement
- Deferral of payments to creditors
- Litigation, fines, and penalties
- Gifts and donations
- Foreign exchange costs
- Bank charges
- Salaries and remunerations of directors or shareholders
Visit our Grant Scheme Brochure: here