Bizcamp 2011 grants and other supports aonghus sammin

Grants and other supports for Entrepreneurs

Bizcamp Galway - September 2011

Talk topics

• State agencies• Bank / Debt finance• Equity• Dos and Don’ts

State agencies

Enterprise boards

• 1-10 employees• Manufacturing / Some services• No local service / hospitality etc.• Grants – feasibility, start-up, expansion• 50% of max €75k• Mentoring and Training

Enterprise Ireland

• HPSU (10+ employees / €1m exports)• Manufacturing / International services• Grants – feasibility, vouchers, r&d, various• Equity Investments - 50% of total• Competitive start fund - €50k for 10%• Advice, Expertise, Contacts

Fáilte Ireland

• Tourism sector• Marketing support – Festivals and Events• Capital support – Strategic products• Business mentoring• Web development • Business Tools• Local advice and support

InterTradeIreland

• Cross Border • Seedcorn €280k fund• Fund Business Angels• Information – venture capital, business cube• Events and advice

Others....

• Udarás – Gaeilge, Gaeltacht• WestBIC – Training, Mentoring, Incubation• WDC – Venture, Strategic, Local• LEADER – Rural Enterprises• BIM – Seafood Grants, Training• Government departments – Agri, FAS• Revenue – CT, PRSI, R&D

Others...

• Atlantic / One • Social Entrepreneurs / Ashoka• FP7 Ireland• www.j4bgrants.ie

Funding Lifecycle

TYPE OF FUNDING

Proof of Concept Funding

Seed Corn

First Round

Second Round

Development Capital

Replacement Capital MBO /

Development Capital

SOURCES OF

FUNDING

Public Sector

Founders Family and Friends

Business Angels

Venture Capital

Corporate Venturing

Public Listing/IPO

TYPE OF FUNDINGProof of Concept

FundingSeed Corn

First Round

Second Round

Development Capital Replacement CapitalMBO /

Development Capital

SOURCES OF FUNDING

Public Sector

Founders Family and Friends

Business Angels

Venture Capital

Bank finance

Public Listing/IPO

Banks / Debt finance

• Security....• ...Ability to repay• Asset finance, Invoice discounting• Personal guarantees• Specialist banks• Hard work!

Equity investment

• State agencies• The 3 Fs• BES / SCS• Business Angels• Venture Capital• Sale / IPO

BES

• Enterprise Ireland approval• Tax relief at top rate• €2m maximum per company• €150k per investor pa• 5 year minimum• Designated investment funds

Seed Capital Scheme (SCS)

• Part of BES• PAYE paid in previous 6 years • Max relief of tax on €100k income pa• Seek advice

Business Angels

• HALO network• Matching process• €25k to €250k• Skills and experience• Leverage

Venture Capital

• Specific sectors• Skills and Expertise• High growth potential• Exit strategy• InterTradeIreland website

DOs & DON’Ts

• DO• Business Plan• Be clear on what € you need • Talk to people who can help• Customers• DON’T• Be ill-prepared• Chase grants aimlessly

Q&A

[email protected]