PressTSSG News

The Funding and Supports Available to help cope with Covid-19

By 3rd April 2020 No Comments

In these times of uncertainty, it is important to highlight some of the funding and supports available to researchers and businesses during the Covid-19 Pandemic. Due to the sheer scale of this global pandemic, there has been an unprecedented response, on a national level we have seen the Irish Government respond swiftly across so many areas. As there are economic impacts associated with this pandemic, through Enterprise Ireland and Local Enterprise Offices (LEO) the government has created supports and funding mechanisms to help businesses and enterprises in Ireland cope with this crisis, such as the Business Contingency Voucher and the Covid-19 Business Response Plan which are detailed below.

As well as the economic effects of this crisis, there is also more pressing societal issues which need to be addressed. In order to create solutions to these urgent problems, Science Foundation Ireland has launched the Covid-19 Rapid Response Funding Call, with a goal of funding research institutes to create solutions to some of the problems arising from this pandemic. More detail on this below.

 

The Local Enterprise Office Trading Online Vouchers

The LEO’s Trading Online Voucher Scheme is designed to help small businesses with up to 10 employees to trade more online, boost sales and reach new markets. There is up to €2,500 available through the Local Enterprise Offices with co-funding of 10% from the business.

Training and further business supports are also provided by Local Enterprise Offices, and businesses that have already received a Trading Online Voucher can now apply for a second voucher, where upgrades are required.

Find Out More

Business Continuity Voucher*

Available from all LEO’s including Waterford, Kilkenny, Wexford, and Tipperary, the Business Continuity Voucher is worth up to €2,500 in third party consultancy costs and can be used by companies and sole traders to develop short-term and long-term strategies to respond to the Covid-19 pandemic.  The goal of this funding support is to help companies make informed decisions about what immediate measures and remedial actions should be taken, to protect staff and sales.

Contact the Technology Gateway team in TSSG to learn more about how we can provide a wide range of consultancy services to your company including technical improvements, planning on how to move your business online and database creation.

*Please note, if you have identified TSSG as a suitable expert in your field inform your LEO representative upon application of the voucher.

Click here to find out more.

 

Enterprise Irelands – Covid-19 Funding and Supports

Enterprise Ireland is working with all government stakeholders to ensure that businesses are prepared and informed on the most up-to-date advice and supports available. Enterprise Ireland have now also launched a specific webpage that offers a place where businesses can see all the available supports and funding mechanisms available to businesses to help deal with the effects of Covid-19. Some of the supports available include:

The Enterprise Ireland Covid-19 Business Response Plan: This response plan outlines these in more detail and in one place to help businesses to stay up to date with the latest information available. For more information Click Here.

The Covid-19 Business Financial Planning Grant which is a new support for Enterprise Ireland clients and those manufacturing or internationally traded services companies that employ 10 or more full time employees. The grant is designed to help companies to develop a robust financial plan, including the preparation of documentation required to support  applications for external finance from banks and/or other finance providers (including Enterprise Ireland). The Covid-19 Business Financial Planning Grant, worth up to €5,000, will enable companies to access external support from approved financial consultants to prepare a financial plan to secure the company in the short to medium terms.

The Sustaining Enterprise Fund is a new fund to provide manufacturing and internationally traded services companies with capital to help stabilise and rebuild their businesses. The purpose of the fund is to sustain companies who have been impacted by a 15% or greater reduction in actual or projected  turnover or profit, and/or have a significant increase in costs as a result of the Covid-19 outbreak.

To find out more about all of the supports available through Enterprise Ireland – Click Here

 

SFI Covid Rapid Response Funding

Research, development and innovation, both in the public and private sectors, have a significant role to play in the national and global response to COVID-19. Of key importance in this regard is the WHO Global Research Roadmap and, in particular, the highlighted immediate priorities and knowledge gaps. Funders around the globe have rapidly mobilised forces to provide a range of opportunities for researchers and innovative companies.

Science Foundation Ireland (SFI), Enterprise Ireland (EI), and IDA Ireland have launched a joint rapid-response call to fund research, development, and innovation (RD&I) activities that will deliver significant and timely impact for Ireland within the context of the current emergency. This call will be closely co-ordinated with the rapid response call launched by the Health Research Board (HRB) and the Irish Research Council (IRC).

This funding is focused on minimising risk of illness for all, minimising risk of exposure of vulnerable groups and minimising social and economic disruption. The SFI, Enterprise Ireland, IDA Ireland rapid response call is an agile and adaptive initiative to support development of innovative solutions (including STEM-based, social/behavioural science) that can have rapid demonstrable impact on the current COVID-19 crisis in Ireland. Click Here to find out more.

For more advice or guidance on how you or a client you may be working with can access these funding and support mechanisms, or if you would like to find out more about how TSSG can help your business during these challenging times contact our Technology Gateway team.

Miguel Ponce de Leon, TSSG Technology Gateway Manager

Carol Faughnan, Business Development Executive