Terms and Conditions

  1. Introduction

1.1 Participants must adhere to the Terms and Conditions when applying to the Investment Fund operated by the Local Enterprise Offices,  or any company or website owned or controlled by the Local Enterprise Offices.

1.2 By entering and participating in this programme participants agree to these Terms and Conditions. All entry instructions and any other specific details relating to the programme form part of these Terms and Conditions.

1.3 By entering the programme entrants are acknowledging to the Local Enterprise Offices that they have read and understood the Terms and Conditions and agree to them.

  1. Applications

2.1 To apply participants must submit an online application including mandatory video which meets the eligibility criteria.

2.2 No purchase or payment is necessary to enter this programme

2.3 The Programme Owners retain the right to move or alter dates of application, phases and the Investor Ready Programme.

  1. Eligibility Criteria
  • The LEO Innovation Investment Fund is a competitive offer and can assist new and established LEO clients
  • An existing LEO Client is defined as a client that has received Measure 1 Support (Investment) and/or currently resides in the LEO Projects Portfolio and/or has received Measure 2 Support (Training, Mentoring, etc) in the past 3 years from the date of application.
  • A micro enterprise is an enterprise that currently employs 10 employees or less.
  • Only applicable to existing LEO Micro Enterprises who employ 10 employees or less
  • To be eligible a Start Up applying under this programme must be trading for over 12 months prior to the date of application.
  • The enterprise must be established, registered, and operate within the area of their Local Enterprise Office.
  • Applicants must be eligible to own /manage/ operate a business in Ireland at the time of application.
  • Applicants must own/control/manage the business IP where applicable
  • Applicants must have the capacity to deliver the project plan (i.e. human, financial, production etc.)
  • Applications must be submitted by the closing date of the 31st July 2017. Applications received outside this date will be deemed ineligible.
  • Investment will be awarded on a competitive basis which will necessitate applicants preparing an investor ready plan and pitching to an Investor Panel who will select the successful applicants following a competitive process.
  • The decisions agreed by the Investor Panel is final and beyond question in all circumstances.
  • The enterprise must operate within the commercial sphere across the manufacturing and traded services sectors.
  • Applications must be innovative as defined by the programme and have the potential for generating economic impacts including job creation and growth in domestic and/or export markets.
  • Regarding restrictions local retail enterprises, personal services, professional services, construction including building services or any other enterprise that is considered to give rise to unacceptable deadweight (where projects would have proceeded anyway) or displacement (where the project simply displace business from other players in the market) are not eligible to apply for this programme.
  • Established clients who have received M1 Investment Funding from their local LEOs in the past 24 months prior to the date of application are entitled to apply for this programme provided  that the application is innovative as defined by the programme and is materially different from what was previously approved by the LEO. No double funding of the same activity is allowed.
  • Existing LEO M2 Clients who have not received investment to date from their LEO are encouraged to apply. To be eligible LEO M2 clients must not employ greater than 10 employees at the time of application and must be trading for more than 12 months prior to the date of application
  1. Investment and Supports

4.1 The LEO Innovation Investment Fund will have an overall fund of €1.5 million available through the network of 31 Local Enterprise Offices, targeting investor ready LEO Clients to start and develop innovative microenterprises

4.2 The investments will be agreed from the applications received.

4.3 Successful Grantee’s must invest any financial supports received  in the pursuit of developing the idea or the business and these financial supports are not transferable to another person or entity.

4.4 The Local Enterprise Offices, affiliates, sponsors and representatives are not responsible for misuse of any investment and/or supports  or claims, liability, loss or damage arising out of or in connection with any programme promoted by the Local Enterprise Offices.

4.5 The Local Enterprise Offices retain the right to disqualify any applicant when it considers the applicant has not met with the eligibility criteria.

4.6 Fraudulent, unreadable or incorrect applications will not be accepted (at the absolute discretion of the Local Enterprise Offices).

4.7 The decision of the Assessment Panels is final and beyond question in all circumstances. No canvassing in any situation will be allowed.

    5. Publicity

5.1 Applicants may be required to participate in a photo, video and/or film session, and must acknowledge that the Local Enterprise Offices have the rights to use such publicity photos, videos and/or films in any medium and in any way it sees fit.

5.2 By submitting online, an applicant will automatically give permission for use of certain personal data and where this situation arises this information will be kept in accordance with the Data Protection Act.

     6. Local Enterprise Offices– Exclusion of Liability

6.1 The Local Enterprise Offices are not liable in any way for any costs, expenses, damages, liability or injury arising out of or in any way connected with the programme.

6.2 The Local Enterprise Offices accept no legal responsibility for any loss of profit, business, contracts or revenues incurred by the applicant

      7. Jurisdiction

7.1 These rules shall be applied and understood in accordance with Irish Law.

7.2 The Local Enterprise Offices or any of its agents have the rights to add or amend to the Terms and Conditions at any time