Innovation Voucher: €10,000 of a college's research time, for limited companies only

What you get

A voucher is not money in your account. It is €10,000 worth of time with researchers at a university, a technological university or a public research body. They do the work and invoice you, and you hand over the voucher as payment. The college then claims the money from Enterprise Ireland.

The voucher does not cover VAT. The college charges VAT on its invoice and the company has to pay that itself. If the work costs more than the voucher, the company pays the difference.

A company can have up to four vouchers in any five years: three standard and one co-funded. Only one can be active at a time. The standard voucher was €5,000 until 2024, when it was doubled.

Most Enterprise Ireland money is kept for its own clients. This voucher is an exception, and the rest of what Enterprise Ireland offers is much harder for a small local company to reach.

Who can apply

Small and medium limited companies registered in Ireland, with a CRO number. That means fewer than 250 employees, and turnover of no more than €50 million or a balance sheet of no more than €43 million.

You do not have to be a client of Enterprise Ireland. The terms of reference say applications "are not restricted to clients of Enterprise Ireland".

There is no export rule like the one on Local Enterprise Office grants. A company in retail, food, services or construction can apply, as long as it has a real innovation question to ask.

Who cannot apply

• sole traders and partnerships. Only limited companies qualify, so it is worth knowing the difference between trading as a sole trader and as a company
• businesses in the agricultural sector
• charities, not-for-profit bodies, trade associations, chambers of commerce, sports clubs and holding companies
• a company that still owes a college for earlier voucher work
• a company approved for more than €300,000 from Enterprise Ireland in the last five years. It can only apply for the co-funded voucher

What it can and cannot be used for

It is for innovation of any kind, such as:

• developing a new product, process or service
• a new business model, or a new way of delivering a service
• testing whether a new product or service is feasible
• an innovation or technology audit

The work has to bring knowledge into the company that is new to it. Do not expect a finished product. Enterprise Ireland's own FAQ says to expect reports, drawings, technical specifications, rough prototypes or test results.

The list of what it cannot pay for is long:

• business plans, business strategies and general business consultancy
• standard website development, online optimisation and standard mobile apps
• buying or developing software
• market research that a private firm could do
• marketing, digital marketing, branding, advertising material and sales
• standard training courses, and mentoring
• meeting a legal or regulatory requirement
• legal, patent, tax or customs advice
• calorie counts, nutritional analysis and recipe development for food outlets
• anything the Local Enterprise Offices already fund

If a solution to your question can already be bought, Enterprise Ireland is likely to refuse the application.

For software there is the Local Enterprise Office voucher for buying software. For market research and prototypes, makers and exporters have the Local Enterprise Office grant for researching a new product.

How to apply, step by step

1. Write down the question. Enterprise Ireland calls it the knowledge question: the problem you want a researcher to solve, and why it needs something new.
2. Register on Enterprise Ireland's online application system. First-time applicants have to create an account. Applications are not accepted any other way.
3. Fill in the online form. It is open all year. For a standard voucher you do not need to name a college.
4. Wait for the answer, which normally comes within four weeks.
5. Take the voucher to a registered knowledge provider. Agree the work, the timescale and the full cost before anything starts. Providers in Northern Ireland accept it too.
6. When the work is done, confirm it was completed and pay the VAT. The college redeems the voucher with Enterprise Ireland.

The list of knowledge providers is on Enterprise Ireland's Innovation Voucher page. It includes the universities, the technological universities, two Teagasc food research centres and Bord Iascaigh Mhara.

A voucher is valid for 18 months from the day it is issued.

Why applications are refused

Enterprise Ireland says that typically about 80% of applications are successful. In 2025 it approved 541 vouchers.

It names four main reasons for refusal:

• the applicant is not eligible
• the application does not give enough information
• the activity is on the excluded list
• the level of innovation is low

Before the question is even read, Enterprise Ireland checks that the applicant is a limited company, has no active voucher, has not had four in five years, and has received less than €300,000 in de minimis State aid over three years.

If you are refused, you get feedback on what was wrong and you can apply again.

Common questions