Smart Regions Enterprise Innovation Scheme | 38
The output of the priming project should: ώ Confirm the Opportunity: Clearly define the market need/fit for the project and the proposed solutions that the project will offer, identify key stakeholders who will support/benefit or utilise the project offering. Develop an outline Capital plan and draft Operational business plan which may be used to apply for more significant future Regional Enterprise funding. ώ Create Detailed Designs: Support the creation of architectural drawings of proposed Capital projects and the appropriate plans to minimise the carbon footprint of the project. ώ Develop Detailed Financial Plans: Support the creation of a robust financial model (P&L, Balance Sheet, Cash Flow, etc.) demonstrating the viability and sustainability of the proposed project and outlining the underlying assumptions, partner contributions, funding etc. ώ Define KPIs & Metrics: Clearly set out the key performance indicators and indicative metrics for the proposed capital project with indicative timelines for delivery. ώ Support the submission of a planning application: the project should focus on all planning requirements and facilitate preparation of documentary backup required for the submission of a planning application, such as: » Architectural Drawings » Environmental Impact Surveys/Reports
» Consortium building (identification of partners) » Planning consultations and submission preparation
Priming Grant funding will be for a maximum 12-month period from the grant offer date. Funding can also be used to assist early-stage project development which will enable promoters design and test their project concept; deliver virtual or site-based solutions from temporary or rented premises to their target audience; and fund the design, planning and tendering costs related to a subsequent application for potential future state funding of the ensuing project. Funding may also be used towards costs related to completion of an Environmental Impact Assessment if the project is required to complete same. Eligible Costs of Stream Four Feasibility Projects 23 Feasibility funding is available for Consultancy and Travel expenditure. The maximum funding limit per applicant across both of these categories under this Feasibility Study will be up to €50,000 in grant aid per project, or 80% of eligible expenditure, whichever is the lesser. Applicant projects must have a minimum expenditure of €31,250 to be considered eligible for Feasibility funding (i.e. minimum grant of €25,000). Consultancy Support: to support the hiring of appropriate external experts required to drive key elements of the work programme. The maximum daily consultancy rate is €900 per day, (subject to evaluation panel approval), which includes the cost of domestic travel and expenses in Ireland.
23 All eligible costs exclude VAT. Where applicants can certify through the Revenue Commissioners that they have unrecoverable VAT, it may be deemed an eligible expense under this fund.
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