bizcamp 2011 grants and other supports aonghus sammin
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Grants and other supports for Entrepreneurs
Bizcamp Galway - September 2011
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Talk topics
• State agencies• Bank / Debt finance• Equity• Dos and Don’ts
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State agencies
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Enterprise boards
• 1-10 employees• Manufacturing / Some services• No local service / hospitality etc.• Grants – feasibility, start-up, expansion• 50% of max €75k• Mentoring and Training
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Enterprise Ireland
• HPSU (10+ employees / €1m exports)• Manufacturing / International services• Grants – feasibility, vouchers, r&d, various• Equity Investments - 50% of total• Competitive start fund - €50k for 10%• Advice, Expertise, Contacts
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Fáilte Ireland
• Tourism sector• Marketing support – Festivals and Events• Capital support – Strategic products• Business mentoring• Web development • Business Tools• Local advice and support
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InterTradeIreland
• Cross Border • Seedcorn €280k fund• Fund Business Angels• Information – venture capital, business cube• Events and advice
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Others....
• Udarás – Gaeilge, Gaeltacht• WestBIC – Training, Mentoring, Incubation• WDC – Venture, Strategic, Local• LEADER – Rural Enterprises• BIM – Seafood Grants, Training• Government departments – Agri, FAS• Revenue – CT, PRSI, R&D
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Others...
• Atlantic / One • Social Entrepreneurs / Ashoka• FP7 Ireland• www.j4bgrants.ie
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Funding Lifecycle
TYPE OF FUNDING
Proof of Concept Funding
Seed Corn
First Round
Second Round
Development Capital
Replacement Capital MBO /
Development Capital
SOURCES OF
FUNDING
Public Sector
Founders Family and Friends
Business Angels
Venture Capital
Corporate Venturing
Public Listing/IPO
TYPE OF FUNDINGProof of Concept
FundingSeed Corn
First Round
Second Round
Development Capital Replacement CapitalMBO /
Development Capital
SOURCES OF FUNDING
Public Sector
Founders Family and Friends
Business Angels
Venture Capital
Bank finance
Public Listing/IPO
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Banks / Debt finance
• Security....• ...Ability to repay• Asset finance, Invoice discounting• Personal guarantees• Specialist banks• Hard work!
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Equity investment
• State agencies• The 3 Fs• BES / SCS• Business Angels• Venture Capital• Sale / IPO
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BES
• Enterprise Ireland approval• Tax relief at top rate• €2m maximum per company• €150k per investor pa• 5 year minimum• Designated investment funds
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Seed Capital Scheme (SCS)
• Part of BES• PAYE paid in previous 6 years • Max relief of tax on €100k income pa• Seek advice
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Business Angels
• HALO network• Matching process• €25k to €250k• Skills and experience• Leverage
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Venture Capital
• Specific sectors• Skills and Expertise• High growth potential• Exit strategy• InterTradeIreland website
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DOs & DON’Ts
• DO• Business Plan• Be clear on what € you need • Talk to people who can help• Customers• DON’T• Be ill-prepared• Chase grants aimlessly