1. Jim Fitzsimons Riverwest Management

2. Export is Innovation Government support for companies that innovate Innovation is not just about developing new novel products Innovation can be radical or incremental Innovation can be new to the world or simply new to you Innovate or Evaporate

3. Start with the Big Question: What precisely do we want to sell to the Funder ? What is the project and the project plan in detail? Make sure your plan is export driven: either in actual or aspirational terms Jobs, Jobs, Jobs !!!! – The Funder’s White Whale! Don’t forget that with grants and funding comes paperwork, make sure the systems are in place to deal with this to avoid any headaches! Remember: The funder wants to give out the money, it’s their job! BUT they will need a great business case/plan!!

4. The Essentials: Scope: Minimum 3 years Identify your target market Scale: Aim/Vision Sales Profit Milestones Unique Selling Points Walk away plan? Family Impact- Be realistic

5. 1. Clarify Objectives 2. Identify Barriers/Risks 3. Offer Solutions to Barriers 4. Clarify Business Case 5. Identify Your Path Sell Project to Funders!!!

6. Staff, Admin/Overheads, Consumables and Materials, Project Management Costs Technical Consultancy incl Universities, Colleges Sub Contracting Travel *NB - grants rarely cover capital expenses

7. Enterprise Ireland Feasibility Innovation Vouchers Innovation Partnership R & D Fund Intertrade Ireland Fusion programme

8. Enterprise Ireland HPSU Growth Fund Intertrade Ireland Acumen Elevate Equity Network Go to Tender Seedcorn

9. 1. Innovation Vouchers €5,000 2. Feasibility Study €65,000 2 years 2 Tranches 50% Funding 3. Commercialisation Fund A. Proof of Concept €50K – €100K (12 months) B. Technology Development €100K - €400K (18-36 months) C. Commercialisation Plus – Non Specific Commercial Partnership

10. 4. Innovation Partnerships 50% Up Front Third Level College Low Administration 5. R & D Fund Large Grants €650K Business Plan Detailed Costings

11. 1. Halo Business Angel 2. Micro Finance Ireland 3. EIIS 4. Ireland Strategic Investment Fund

12. €25k to €250k Long term finance – no immediate repayment burden. If company succeeds Business Angel will share in growth. If company fails Angel loses funds. Business skills and experience as Angels tend to invest in sectors they understand and can bring other benefits e.g. contacts and particular expertise. Credibility and leverage. Having a Business Angel involved can influence other financiers. Aside from the contacts and experience they bring Angel finance is equity - not debt finance - so your balance sheet is immediately strengthened.

13. Unsecured business loans of for commercially viable proposals. Business Loans are available through the LOCAL ENTERPRISE OFFICE (LEO’s) nationally. All business sectors eligible to apply Sole Traders, Partnerships and Limited Companies with fewer than 10 employees and an annual turnover of less than €2m are eligible to apply. Loans may be used to fund the start-up of a business, the purchase of stock, equipment, machinery and business vehicles and are also available to existing enterprises. By applying through the Local Enterprise Office to get: · Unsecured loans from €2,000 up to €25,000 · Term from 3 to 5 years · Reduced Interest Rate 7.5% (7.8% APR) for LEO clients · Flexibility on repayment terms

14. Offers non-related Irish based Investors Tax relief on total income in return for investing in eligible SME’s Relief on up to €150k per investor pa No real limit on number of investors per company Fixed cost of Finance for 4 years Existing shareholders retain control of business Investment is equity not debt, thereby improving Balance Sheet May trigger additional from financial institutions or EI. No capital repayment for 4 year investment period. Micro, Small companies in Dublin, KE, WW, MH and some Cork City Micro, Small and Medium companies elsewhere

15. National Pension Fund managed by NTMA Invest in certain areas Large very flexible fund, larger investments Debt or Equity. Strong emphasis on commercial return No restrictions other than the risk profile of the underlying economics Innovative Seek new ways to play a role in the market (with a long term horizon as required) Work with public and private sector parties to develop financing solutions ‘Big Idea’ initiatives with potential to create significant value / drive economic growth in Ireland Leverage ISIF advantages to create & shape opportunities Investment opportunities may require development with multiple parties

16. At least 2 years Statutory Financial Statements If it’s been more than 9 months since the last Statutory Financial Statements then copies of the most recent management accounts must also be supplied A Set of Projections

17. Define the project in SIMPLE TERMS Define the business case in SIMPLE TERMS Fully cost the project Ask the funder what they want and give it to them Give drafts of application to funder Prepare early and involve all relevant company personnel Be ready to make the claims Be ready to do the paperwork

18. NEVER hire a consultant without a clear project definition and business case in your head EVER!! Even if the consultant has done dozens of applications before NEVER leave them to do the proposal alone! NEVER use grants to create work you never would have done without it! NEVER rush an application! NEVER try fool an assessor, it’s their job to catch out lies!

19. Work-plan – is the project challenging for the company? What is the company’s strategic plan and what are the barriers to overcome? Does the company clearly lack the capability in-house? Has the company demonstrated that they could not just bring in a consultant or buy an off the shelf solution What is the key technology/knowledge to be researched and will it increase employment and profitable exports? Is there a good business case ie. payback? Are the objectives clear and reflected in the work-plan and target outcomes? Are there clear benefits to the company? Is the company financially stable? Can it afford the project? Is the project innovative?

20. Concern: Innovation is risky Debunked: The package and support, if costed right, minimises this risk Concern: Collaborative innovation is long term Debunked: Regular closing dates for applications and quick turnaround time to approval means we work at your pace Concern: Application forms can take up valuable company time Debunked: Onus can be put on the academic partner to fill in the application form Concern: Low success rate with applications Debunked: Over 70% of applications are approved!

21. Golden Rule of R&D!! It costs twice as much It takes twice as long and It delivers HALF what you expect !!! Thank You