INVEST GROWTH PROOF OF CONCEPT FUND

The Invest Growth Proof of Concept Fund is funded by Invest NI and set up as a pre-commercial grant-awarding fund managed by E-Synergy. The Fund enables individuals, start-ups, micro-enterprises and SMEs to establish the commercial potential of a concept resulting from in-house research and ideas. Grants will be awarded with a view to enabling grant beneficiaries to establish the commercial potential of a concept and more fully develop and test their ideas. The £3m fund will run for five years. An important aspect of the scheme is the commercial and entrepreneurial support the recipients receive through E-Synergy. These elements include: business mentoring, IP and copyright protection and advice.

Grants are distributed in two forms:

Mini Grant – up to £10k
Standard Grant – up to £40k

Download the Mini Grant Application Form here

Download the Standard Grant Application Form here

Mini Grants

Mini Grants focus on ascertaining market demand/readiness, assessing the competitive strengths and weaknesses of initial business concepts and establishing an intellectual property rights strategy. Typical outputs will include market research reports, initial business case reports and concept development work and a pre-commercialisation plan. All outputs will be treated confidentially and will form the basis for a revised action plan.

Mini Grants are awarded to selected candidates who have applied in writing.

GRANTS ARE AVAILABLE TO INDIVIDUALS AND INCORPORATED ENTITIES WITH A VERIFIABLE NORTHERN IRELAND ADDRESS. GRANTS MAY NOT BE MADE TO INDUSTRIES THAT ARE PROHIBITED BY ANY EUROPEAN UNION DIRECTIVES OR REGULATIONS. EU STATE AID RESTRICTIONS APPLY.

Standard Grants

Standard Grants are available for later stage proof of concept activities. Examples of the kind of projects the grants will provide for include: prototype development, first phase patenting and licensing, devising a development plan, building the management team, early customer interactions and, where a start-up or spin-out, incorporation. The major outputs often include a business plan (including investment plan) and a growth action plan.

Standard Grants are awarded to candidates who have been selected by the Fund Assessment Panel. The panel meets at least three times a year. Candidates are however encouraged to submit their proposals at any time via application form. Applicants for a Standard Grant will be expected to present their ideas to the Panel.