Smart Regions Enterprise Innovation Scheme | 14
The continuance of funding throughout the funding period shall be contingent upon delivery of agreed milestones/key performance indicators (KPIs) and timelines for the project. Funding allocated under the ERDF Regional Programmes will be for a defined phase of the project and shall be awarded, expenditure incurred and paid, and fully drawn down within the lifetime of the EU programme cycle. This shall be set and agreed with Enterprise Ireland at the commencement of the supported project. The project will need to report regularly on the achievement of the KPIs on a schedule agreed with Enterprise Ireland. The duration of each project under each funding stream is outlined below and will be set out in the ‘Grant Agreement’. Stream Duration One - Local Infrastructure Useful lifetime (min.15 years), or as agreed with Enterprise Ireland. Contingent on business plan. Two - Innovation Clusters Min. 2 years - Max. 3 Years Three - Services to SMEs Min. 2 years - Max. 3 Years Four - Feasibility and Priming Conclude within 1-year of approval Please also note: 1. The activity being proposed for funding must be additional to the activities currently being undertaken if any, and additional to activities, if any, currently funded by the State. 2. Project funding may be provided by way of advance payments of up to one third of the approved grant, if certain criteria are met, and sanction is obtained from the Department of Enterprise, Trade & Employment and the Department of Public Expenditure, NDP Delivery & Reform. 3. All actual project spend incurred must be documented and claimed by the applicant within the project duration and will be inspected and validated by Enterprise Ireland Grant Inspection personnel. In addition, audits can be conducted by ERDF agents, including Audit Authority and others. 4. All expenditure must align with the 2021 – 2027 ERDF National Eligibility Rules in order to be compliant with ERDF spending rules. Failure to comply with these, risks project expenditure being deemed ineligible. 5. Enterprise Ireland shall make no commitment to funding the successful applicant after the agreed period of funding. 6. Funding for approved calls will be provided in consultation with the Department of Public Expenditure, NDP Delivery & Reform (National Body) and the relevant Regional Assemblies (Managing Authority) & the Department of Enterprise, Trade & Employment. 7. All Capital Projects (new building or refurbishment) supported by Stream One must commence within 12 months and must be completed within 30 months of the date of approval, unless otherwise agreed in advance with Enterprise Ireland. 8. Personnel supported under Stream Two must be recruited within 9 months of the date of approval of the grant, unless otherwise agreed in advance with Enterprise Ireland.
Made with FlippingBook flipbook maker