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Investment fund opportunities for Donegal businesses

Michael Tunney Head of Enterprise in Donegal

Businesses in Donegal interested in product development, new export market opportunities or expanding on an innovative idea for their enterprise – may now be able to avail of new investment fund opportunities through the Local Enterprise Office.

Technical Assistance for Micro Exporters and the LEO Innovation Investment Fund are new programmes designed to help small businesses hoping to move to a new level.

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According to Head of Enterprise in Donegal, Michael Tunney, the Technical Assistance for Micro Exporters has been designed to enable clients to take the first steps in new product development, service development or exploring new market opportunities.

“The programme is aimed primarily at the existing LEO client portfolio, but it does extend to potential portfolio clients within the general eligibility criteria of the financial instruments.”

This, he explained, means applications can be received from any commercially viable business employing less than 10 people, established and registered in Donegal that has a demonstrated market for their product or service and the potential to grow or export as well as potential for job creation.

The maximum grant awarded under the Technical Assistance for Micro Exporters is €2,500 at the rate of 50%

Meanwhile Mr. Tunney added that the LEO Innovation Investment Fund has an overall investment fund of €1.5 million across the network of 31 Local Enterprise Offices and targets investor ready LEO clients who wish to start, grow or develop innovative micro enterprises.

“Applications will be made online and those selected will participate on a short highly focused Investor Ready Programme. The programme will incorporate 1 +1 mentoring to assist the promotor prepare an investor ready plan.

At the conclusion of the programme, participants will have the opportunity to make a formal pitch to an Investor Panel to potentially secure a LEO Grant Investment of €25k to fund their innovative business startup or development.”

Businesses in Donegal interested in finding out more information or making an application for the Technical Assistance for Micro Exporters should contact Ursula Donnelly by sending an e.mail to ursula.donnelly@leo.donegalcoco.ie

Any business interested in finding out about or applying for the Leo Innovation Investment Fund should visit their website on – http://www.liif.ie/

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