Enabling innovative firms to deliver industry-led solutions, driving sales and creating wider economic benefits.
Impact is a game-changing partnership involving a minimum of two SME companies, one in Northern Ireland, and one in Ireland, aiming to develop a key solution to an industry level problem. The project will deliver long term commercial benefits to the partners involved and create wider economic benefits both north and south. InterTradeIreland will facilitate the collaboration and provide funding in order to solve industry challenges, primarily to companies working in life sciences, advanced manufacturing and the bio-economy.
Both partner companies need to be:
- Able to demonstrate innovation maturity and capability
- Ambitious with between 5 and 250 employees
- Trading for two years demonstrating financial viability
- Focused on delivering growth through cross-border collaboration
The project must address a key challenge at an Industry level.
Maximum available grant is £250k (at a grant rate of 50% i.e. project costs of £500k) split between companies contributing their expertise, sharing the risk and the benefits. Eligible costs include staff (existing or new hire), overhead, technical consultancy, sub-contractors, equipment, IP, testing and travel.
How it works
- The Lead Impact Consultant can find and introduce partners, if required
- Partners meet to agree objectives and responsibilities.
- Expression of interest (EOI) form is submitted with project and company details.
- ITI will approve, request further information or reject EOI.
- Approval of an EOI will release up to £7,500 (at 50%) to cover the cost of developing a full application.
- Both parties fill out full application with a work-plan and budget and submit to ITI.
- Approved partnership projects will receive funding aligned with approved milestones.
- The Impact Lead Consultant will provide support throughout the implementation stage.