SME Diversification and Innovation Grant

    Key Contacts

    Mark Bamber

    Mark Bamber
    Partner
    Advisory Services
    mark.bamber@nexiabt.com
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    Luke Cann

    Luke Cann
    Director
    Advisory Services
    luke.cann@nexiabt.com
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    MAXIMUM GRANT €200,000, PART-FINANCING 50% OF ELIGIBLE EXPENDITURE

    Target Group

    ● The production, manufacture, improvement, assembly,preservation, processing of goods, materials, commodities, equipment, plantmachinery;
    ● Biotechnology, Pharmaceuticals and Life Sciences;
    ● Research and Technological Innovation;
    ● The repair, overhaul or maintenance of pleasure crafts, yachts having less than 100gt, aircraft, engines or equipment incorporated or used in such vessels or aircraft;
    ● Information and communication technology (ICT) development activities, software development;
    ● Eco-innovations, and environmental solutions;
    ● The creation of tourism products and/or services as a result of networks created between traditional tourism service providers and the crafts and artisan sector;
    ● The development and provision of tourism products and/or services related to emerging niche markets;
    ● The development and provision of tourism products and/or services related to the promotion of natural and cultural heritage; change this text.
    ● The development and provision of tourism products and/or services relating to social tourism with specific focus on senior tourists, accessible tourism and active ageing;
    ● The development of innovative concepts, products and/or services offered by Boutique Hotels and Palazzini;
    ● The development, and/or provision of E-health solutions;
    ● The development and provision of services and products promoting healthy living;
    ● The development and provision of services and products promoting active ageing;
    ● The development and provision of services and products related to
    child-day care;
    ● The development and creation of crafts and artisan products;
    ● Retail activities by self-employed and family businesses engaged in craft;
    ● The introduction of products/services that can be marketed and distributed internationally and which are typically more advanced than those prevailing in their respective industry in terms of technology, know-how and skills.

    Eligible Actions

    Investment in Tangible and Intangible assets related to the implementation of focused strategies resulting in:

    ● Implementation of a fundamental change in the overall production process of an existing establishment;
    ● New economic activity related to the diversification of the activity of the establishment, under the condition that the new
    activity performed is not the same or a similar activity to the activity previously performed in the establishment;
    ● Adoption of solutions that lead to the development of a significantly improved product or service;
    ● Acquisition and integration into the business operation of solutions that are new or significantly advanced than those currently
    in use by the Undertaking.

    Eligible Cost

    ● Costs for leasing/rental of privately owned operational premises required for the operations of the Undertaking for the extent and
    duration of the project, procured from external sources;
    ● The lease or rental agreement must be continued for at least 3 years following the completion of the investment project. Costs are
    not to exceed 10% of the total eligible expenditure of the project;
    ● Construction/Up-grading costs required to render the premises operational for the purpose and the extent of the project, procured
    from external sources. Costs are not to exceed 10% of the total eligible expenditure of the project;
    ● Costs for purchasing of new equipment, machinery, and/or plant, required by the Undertaking for the project, procured from external
    sources. Equipment, machinery/plant must be maintained by the Undertaking and remain operational for at least 3 years following the
    completion of the investment;
    ● Costs related to patents/licences bought or licensed for the extent and the duration of the project and that are essential to the effective
    implementation of the project, procured from external sources. These patents/licences must remain asso ciated with the project for at
    least 3 years following completion of the investment project. Costs are not to exceed 10% of the total eligible expenditure of the project;
    ● Wage costs related to the wages of a Change Manager to drive the necessary change within the enterprise through the diversification or a
    fundamental change initiative, working full-time exclusively on the project and for the duration of the same, i.e. not exceeding 24 months.
    The Change Manager needs to be a new employee, filling a newly created position within the Undertaking who is not a director or holds a
    shareholding in the Undertaking or has been in the employ of the Applicant Enterprise within a period of 12 months prior to submission of
    the application. The employment should be covered by an employment contract outlining the duties to be performed and that these
    are exclusively in relation to the action. This support is capped at a maximum of €30,000 over a 24 month period. The maximum eligible
    expenditure over a period of 24 months is capped at €60,000. In those cases where the implementation of the project is less than 24
    months this capping is to be calculated pro-rata. The reimbursement shall be calculated based on the atest documented lgross
    annual employment costs. In establishing the hourly rate the latest documented annual gross employment costs shall be divided by the
    ‘annual productive hours’ being: 17203 hours per employee working full time (or corresponding pro-rata for persons not working full time).
    Reimbursement shall be calculated on the FS3 issued in respect of the employee for the previous 12 months. Recruitment of this Manager
    can only be effected following the signing of the Grant Agreement.

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