In this blog, we will be looking at the opportunities and support offered under Ireland's Breakthrough Innovation Programme, an initiative put in place to support small and growing businesses in the Republic.
In response to the current challenges, a great many businesses are seeking to pivot in regards to how they target consumers, in particular by enhancing their online offerings.
The Irish Government is keen to support businesses to thrive in the "new normal". With this in mind, the Breakthrough Innovation Programme is aimed at helping businesses to identify and develop their "innovation potential", help them to explore opportunities, develop innovation strategies, and secure funding and expertise.
Through the programme, businesses are assigned a trained mentor with significant expertise.
What does the programme offer?In four weekly sessions, business leaders can receive support in eleven focus areas, on:
- Cost delivery processes;
- Cost modelling;
- Value proposition;
- Structure and resources;
- Relationships, networks, partners;
- Strategy and culture; and
- Innovation processes.
Those applying to join the programme are asked to complete a questionnaire including 96 questions. This is intended to give those delivering the programme a better idea of the business and also to evaluate the "innovation maturity" and "innovation opportunity" of the business. This way, those receiving support under the programme can receive the maximum benefit.
Who is eligible to participate?
Delivered by the Local Enterprise Office network, in partnership with the Dublin Business Innovation Centre (Dublin BIC), the programme is open to businesses established for more than three years that have more than five employees and turnover more than €300,000 a year.
Up to two individuals from one business can participate in the programme. It is recommended that these two people be senior personnel or business owners.
How do businesses apply?
Applications should be made via the online registration form on the programme's website. There is a €50 charge per participating company.
According to the latest schedule from the programme organisers, the next applications will be accepted in January, February, March, April, and June of 2021, with a maximum of five company applications to be accepted each month.
WHY SMART MBS?
SMART MBS has the expertise to provide you with a range of services to support setting up your business or expanding into Ireland. We can tailor a cost efficient package based on any outsourced services that your business requires. To find out more, please download our Ebook here.