Title: Enterprise Ireland Accelerating the growth of Irish companies in world markets
1Enterprise Ireland Accelerating the growth of
Irish companies in world markets
2Agenda
- About Enterprise Ireland (EI)
- Type of businesses EI supports
- Support available from EI to start up companies
- What EI looks for in a business proposal.
3Clients we support
High Potential Start-Ups Entrepreneurs starting
companies with the ability to compete in world
markets Scaling Ambitious companies with the
ability to grow to scale and achieve significant
global success
4HPSU Division
- One division responsible for all start ups
- Organised along sectoral lines
- Each new prospective client is assigned a
Development Advisor - The full range of EI resources for an individual
/ company is accessed through that advisor - All clients are handled both on a one to one
basis AND may be involved in relevant sectoral
initiatives.
5What is a High potential start-up?...
- Experienced Management Team (mix of technical and
commercial competencies) - Offering a product or service that is innovative
or technologically advanced - Aiming to realise sales of 1 million and
employment of 10 or more within 3 years - Manufacturing a product for export markets or
internationally traded service - Located and controlled in Ireland.
6Who do we work with?
- Key functional managers within existing
businesses with new business ideas - Experienced Managers looking at a management
buy-out - Serial or repeat entrepreneurs
- Individuals involved in 3rd level research, with
an interest in commercialisation - Irish ex-patriots, returning to Ireland with new
business ideas.
7How do we assist?
8Enterprise Ireland Application Process
Business Idea ?
Eligible? 1.0m T/O Export Focused 10 People
Negotiation Due Diligence
New Start-up Business
Start-up package
9Typical stages in HPSU development..
- Feasibility Study and proof of concept
- Mentor appointed to assist with business
planning - Meet EI overseas office to discuss export
marketing (First Flight or International Markets
Week) - Market Research or Strategic Consultancy support
(if required) - Approved for EI HPSU Equity Funding.
- Ongoing Development Advisor contact.
10Start Up Finance Funding for exploring new
opportunities
-
- Feasibility Study.
- Market Research.
- Strategic Consultancy.
- Trade Fair.
- RD Stimulation.
- Recruitment of key manager.
-
11Funding for HPSUs
- Equity participation in line with Innovative
Funding Offer. - Investment in the form of Convertible Redeemable
Preference Shares (CCRPS). - Up to a maximum of 10 of the ordinary share
capital of the company.
12Typical Funding Scenario
- Exploring New Opportunity - (50k - 6 months)
Promoters own funds 25k EI Feasibility
study grant 25k Establish market
potential, develop prototype, strategic partner
on board, develop business plan with focus on
next 12-18 months - Stage 2 (milestone funding) - (400k - 12/18
months) EI 150k Venture capital
investment 150k Promoters investment 100k
(seed capital scheme)Working demo, reference
site, first commercial sales.
13What EI looks for in a proposal?
- Company Background- Promoters, Milestone
achievements to date - Definition of project, what's proposed for
Ireland and stages of roll out envisaged
(including export development plans?) - Marketplace opportunity and competitive realities
including potential for developing an
international focused operation from a base in
Ireland - Business Model proposed including revenue earning
aspects. - What help and support is required to get to the
next stage.
14What EI looks for in a business plan
- Management team
- Achievements to date
- Market validation
- Business proposal
- Key milestones
- Funding sources and requirements
15What does our Investment Committee look for?
- Is the company an Innovative HPSU?
- Do we believe the plan is viable (3Ms)
- How will the plan be executed (revenue model)
- What are the customers saying?
- Does it satisfy EI Metrics? (cost per job, export
metrics)
16Other EI services
- Business Incubation Centres (BICs)Dublin,
Galway, Limerick, Cork, Waterford - Focus on integrated supports - advice, hands-on
guidance, space, access to finance - Client Knowledge Services Information Centre
- Access to an international network of overseas
offices - Business Mentors/Mentor Panel.
17Thank You Questions?
- Further information www.enterprise-ireland.com