Tánaiste Announces €8.24m Funding for Enterprise Centres – Up to €150,000 awarded to local business hubs

The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD, today announced €8.24m in grants for 95 Enterprise Centres around the country under Enterprise Ireland’s Enterprise Centres Fund.

Enterprise Centres are embedded in communities in every county in the country. They provide space and training for entrepreneurs, allowing them to work remotely, access training and advice, and network with other business leaders.

This funding will be crucial as the Centres continue to offer services to local businesses during what is an exceptionally difficult time. It will help the Centres implement a recovery plan for businesses within their remit over the next six to twelve months.

Tánaiste Leo Varadkar said: “I am really pleased to make this funding available through by Department. It will help enterprise centres all over the country to modernise their facilities protecting the health and safety of people who work there and helping to secure much needed jobs.”

Julie Sinnamon, CEO, Enterprise Ireland added: “Over the past 20 years, Enterprise Centres have provided important infrastructure for entrepreneurs and are an essential part of the start-up ecosystem across Ireland. The Centres, many of which are regionally based, provide space, connectivity, mentoring and support to start-up founders and teams, helping them to scale internationally.

“The funding announced today through Enterprise Ireland will ensure that the Enterprise Centres, many of whom have been negatively impacted by Covid-19, can sustain their businesses, pivot and further develop their services to support the next wave of Irish start-up companies.”

The Fund, which was launched in August, was open to both not-for-profit and for-profit enterprise centres which have seen their income significantly impacted as a result of the Covid-19 pandemic. The 95 enterprise centres, which are in every region of the country, will receive grants ranging from €10k to €150k.

Powering the Regions – Enterprise Centre Fund

Eligible enterprise centres could apply for funding of a minimum of €10,000 and up to a maximum of €150,000. Funding will be administered in the form of grant aid of up to 80 per cent of eligible costs detailed in the Recovery Plan submitted by each applicant.

Applicants for funding will need to demonstrate the ability to finance the balance of funding required to implement the Recovery Plan. The required balanced of funding can take the form of revenue generated through the centres core activities over the duration of the plan.

Eligible applicants for funding under this fund are enterprise centres that:

• Are for-profit limited companies; or not-for-profit DAC or CLG enterprises; or campus incubation centres that were in existence in 2019.
• Are headquartered in Ireland.
• Provide both rented accommodation space to enterprise and capability building supports and services through the delivery of structured programmes.
• Have a track record of the delivery of a suite of development programmes to start-ups. The delivery of capability building services must be a critical part of the enterprise centre’s business model.
• Can demonstrate that the centre requires funding to cover operational costs over the next 6-12 months.

For-profit approvals:

Not-for-profit approvals: