HPSU Feasibility Study Grant
The HPSU Feasibility Study Grant is for companies designated by Enterprise Ireland as HPSU companies (High Potential Start Ups).
HPSU Feasibility Study Grant
This grant is to offset costs related to researching international markets, development of a business plan for international expansion or the development of a prototype.
Feasibility studies are immensely important when constructing the strategy for the business (Including acquiring the knowledge for route to market strategy, market intelligence which will form the basis of assessing of how the market will react to a businesses product or service prior to expenditure in expansion and scaling).
Most larger Grant applications will require a feasibility study to demonstration proof that the qualitative and quantitative research conducted within the study concludes that the product or service is viable, profitable and exportable.
What is it for?
The High Potential Start-Up (HPSU) Feasibility Study Grant is a grant offered by Enterprise Ireland to innovative HPSUs preparing to raise investment and who are existing Enterprise Ireland clients.
The grant helps cover the costs of a feasibility study so that the HPSU company can prepare an investor-ready business or Strategic plan, research export markets or develop a prototype.
How much is the Grant Funding?
The maximum grant funding available is 70% of eligible expenditures or €30,000. The grant can be used for research on export market potential, technical research, prototyping, and business and financial plan development.
What To Expect From Us
Step 1
Assessment and Analysis
Prior to application, it is crucial to thoroughly analyse and assess both the eligibility and suitability of the company or project for making the grant application and gauging the likelihood of a successful submission.
Step 2
Strategic Plan
Following the Assessment of the project, our team will outline the strategic plan to align with IHPSU eligibility for an application from a grant awarders perspective.
Step 3
Preparation and Submission
Following the initial assessment to confirm the suitability of the application for the intended grant, our team will outline the delivery roadmap for the application.
Who is it for?
The Innovative HPSU Fund is accessible to current Enterprise Ireland clients who meet the criteria as a small enterprise and have been in operation for less than five years. Eligibility is established through meeting one or more of the following requirements:
- For companies with no trading history at the time of application, at least 15% of the total operating costs must be allocated to R&D expenses in the current fiscal year.
- For companies with a trading record, at the time of application, at least 15% of the total operating costs must be allocated to R&D expenses in at least one of the three years prior to the application.
- Present an innovative business plan for developing products, services, or processes that are technologically new or significantly improved in comparison to industry standards in the European Community. This plan should carry a risk of technological or industrial failure, and it should be outlined in a comprehensive business plan.
To be eligible for the grant, you must be a high potential start-up (designated a Enterprise Ireland DA) preparing to raise investment and have an innovative product or service that has the potential to succeed internationally.
- You must be a high potential start-up preparing to raise investment and have an innovative product or service that has the potential to succeed internationally.
- An Enterprise Ireland DA will assess the merit of the application before advising to proceed.
In Summary
Innovative
Companies
Export
Intent
70% Fund or
up to €30k
Strategic
Planning
Take the Next Step Towards Success
Are you ready to unlock your company’s growth potential? Partner with CAPIQAL to navigate the application process seamlessly and unlock the resources you need to thrive in the global marketplace.
Get Started Today – contact us to learn more about how the HPSU Feasibility Study Grant can accelerate your company’s journey towards success.
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Frequently Asked Question
What is the HPSU Feasibility Study Grant?
Enterprise Ireland provides the HPSU Feasibility Study Grant to High Potential Start-Ups (HPSUs). It supports innovative startups seeking funding and aiming to expand into global markets.
This grant is used to test if your business idea, product or service is viable, profitable and suitable for export before you invest more in expansion and scaling.
What can the HPSU feasibility grant be used for?
You can use the HPSU feasibility grant to cover key feasibility study activities that help you test and plan your growth.
Typical uses include:
- Researching international and export markets.
- Preparing an investor-ready business or strategic plan.
- Developing or improving a prototype.
- Doing technical research linked to your product or service.
- Developing detailed business and financial plans.
These activities help you understand your route to market, gather market intelligence and show that your product or service can work before you spend heavily on expansion.
Many larger grant applications also expect a feasibility study like this as proof that your research supports further funding.
How much funding can I get under the HPSU Feasibility Study Grant?
The maximum grant funding available is 70% of eligible costs, up to a cap of €30,000.
You must fund the remaining 30% yourself, but the grant can cover most of the important feasibility work.
The funding can support costs such as export market research, technical research, prototyping, and the development of business and financial plans.
All costs must fit Enterprise Ireland’s eligibility rules for the HPSU Feasibility Study Grant.
Who is the HPSU Feasibility Study Grant for?
The grant is for innovative High Potential Start-Up companies that:
- Are existing Enterprise Ireland clients.
- Are small enterprises in operation for less than five years.
- Are preparing to raise investment and have an innovative product or service with international potential.
You must also meet at least one of these R&D and innovation conditions:
- If you have no trading history, at least 15% of total operating costs in the current year must be R&D expenses.
- If you have a trading history, at least 15% of total operating costs must have been R&D expenses in at least one of the last three financial years.
- You must have an innovative business plan for products, services or processes that are technologically new or significantly improved versus EU industry standards, with a real risk of technological or industrial failure, set out in a detailed business plan.
An Enterprise Ireland Development Adviser (DA) assesses your application and advises whether it should proceed.
How does CAPIQAL help with the HPSU Feasibility Study Grant?
CAPIQAL supports you through the full HPSU Feasibility Study Grant process, from checking if you are a good fit to submitting the application.
Their support is organised in three clear steps:
- Step 1 – Assessment and Analysis: They review your company and project to check eligibility, suitability and the chances of a successful application.
- Step 2 – Strategic Plan: They outline a strategic plan, so your project aligns with HPSU eligibility and meets the expectations of Enterprise Ireland as the grant provider.
- Step 3 – Preparation and Submission: Once the project is confirmed as suitable, they map out the delivery roadmap and manage the application through to submission.
CAPIQAL also offers wider support in areas like grant strategy, grant compliance and drawdown management to help you unlock funding and plan for future applications.