5 | Smart Regions Enterprise Innovation Scheme
The Scheme has 4 Streams, which shall support the following activities / projects: 1. Local Infrastructure projects 2. Innovation clusters & consortia 3. Services to SMEs to drive innovation solutions 4. Feasibility and Priming Grants Stream One will support Not-for-Profit Designated Activity Companies (DAC)s or Not-for- Profit Companies Limited by Guarantee’s to construct and/or upgrade Local Infrastructure Projects which propose to have major regional, multi-regional or sectoral impact, with grant support from €1m up to €10m per project 1 . These projects must address a defined need for Local Infrastructure in a sector and/or region. In addition, applicants must, through a comprehensive application and financial sustainability plan, demonstrate how they will finance costs associated with maintenance and operation of the Local Infrastructure. These projects will involve the delivery of significant regionally based capital investment projects, which concerns infrastructure that contribute at a local level to improving the business and consumer environment and modernising and developing the industrial base. Enterprise Ireland will fund the infrastructure through the Funding Gap which is calculated as Total Build Cost (i.e. total investment costs in tangible and intangible assets for the construction and/or upgrade of the Local Infrastructure) less the total net operating profit over the useful lifetime (min. 15 years) of the infrastructure. In assessing applications, it is important to note, under Stream One, that; » The total eligible project costs will be limited to the investment costs in tangible and intangible assets for the construction and/or upgrade of the infrastructure. Other costs, such as operating costs relating to the operation and maintenance of the infrastructure cannot be supported. » Projects must detail the market need they intend to address with this infrastructure; its intended function and purpose; and equipment which it intends to seek support for related to this purpose. Constructed or upgraded local infrastructure must be made available to interested users on an open, transparent and non-discriminatory basis at prices that correspond to market price (Article 56 (1) and (3) GBER). » Successful applicants for local infrastructure funding shall provide access to third parties or a separate independent unit under the control of the infrastructure owner on an open, transparent and non-discriminatory basis (and at prices that correspond to market price) to use the infrastructure for the delivery of their services and products. » A claw-back mechanism will apply, after the useful lifetime (minimum 15 years), where the infrastructure has exceeded the forecasted profit amount, that was provided by the applicant at the funding approval date.
1 An ‘Exceptional Project’ will be determined during evaluation as meriting support outside the €10m upper limit for Stream One, based on the quality of the project, the needs that it meets, its strategic alignment and its contribution to the objectives of the Regional Programme and will require specific approval of the Managing Authority and the EI Board.
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