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    Company Guidelines to assist in the completion of a Research & Development (R&D) Fund application

    Note: before completing an application you should contact and discuss the

    application in detail with your Development Adviser.

    Introduction ? These guidelines are intended to assist in the completion of the

    application form for Research & Development funding from Enterprise

    Ireland. The R&D Fund supports company innovation in services,

    products and processes. It is open to existing and potential Enterprise

    Ireland and Údarás na Gaeltachta clients that are manufacturing

    and/or internationally traded service companies. Full details of the

    R&D Fund are specified in the Reference Document available on the

    Enterprise Ireland website.

    ? The Fund is focused on established companies which are planning to

    undertake their first R&D projects and those which are significantly

    developing their existing R&D activity.

    ? This is a competitive Fund.

    ? The approval limit of the R&D Fund Committee is ?450,000. Larger

    applications (applications which involve total support level of greater

    than ?450,000) may also be made using the R&D Fund applications

    and guidelines but will be considered for approval by the Investment

    Committee (of Enterprise Ireland).

    Overview of The application has 3 separate elements. the ? A Business Plan Summary document (Microsoft Word format) Application focussed on outlining the business plan and the project(s) for which

    support is being sought. Total length should be kept to a max. of 8

    pages. Guidelines for the completion of the document are in Part A

    below.

    ? A R&D Fund Project Details and Costs Workbook (Microsoft Excel

    format) which captures the details and the costings for the proposed

    project(s). Guidelines for the completion of the spreadsheet are in Part

    B below.

    ? A Financial Data Sheet (FDS) (Microsoft Excel format). This

    summarises the financial track record and projections for the

    company. The guidelines to assist in the completion are included in

    the FDS Excel document itself. If you need assistance completing the

    FDS, please contact your Development Adviser.

    1 of 14 rdCompany Guidelines R&D Fund. Document version of 23 Dec 2009.

    Additional Additional information is required to assist in the assessment of your

    Information application, such as:

    Required

    ? FDS

    ? The company‟s most recent audited and management accounts (P&L

    and Balance Sheet) should be forwarded with the application. ? Detailed group structure (if applicable).

    ? Full company financial projections.

    ? Cashflow projections.

For Technical Assessment purposes you are required to attach the

    following documents at the time of application:

    ? A project(s) plan showing key tasks, milestones and the resources

    (people and equipment) required to implement the R&D project(s). ? Outline of project(s) organisation and project(s) management process. ? CVs of key R&D personnel (one paragraph per person).

For a full list of the additional information required, please refer to the

    checklist at the end of the Business Plan Summary document.

All applications will be subject to assessment by Enterprise Ireland.

    Additional information in support of your application may be requested in

    the course of this assessment.

    Submission of When the application has been completed it, (the Business Plan

    Applications Summary, R&D Fund Project Details and Costs Workbook and the Financial Data Sheet) along with the additional information required, should be emailed to the DA and the CSU Unit at:

csu.rd@enterprise-ireland.com

    The call close for each monthly tranche is 5.30pm on the last working day of each month.

If you don‟t have soft copies of the company‟s audited and management

    accounts, please send hard copies of the accounts to:

    The CSU Unit,

    Enterprise Ireland,

    The Plaza,

    East Point Business Park,

    Dublin 3.

Please note, for successful applicants, only eligible expenditure incurred

    after the call close date for which the application is submitted will be considered for funding by the approval committee.

    2 of 14 rdCompany Guidelines R&D Fund. Document version of 23 Dec 2009.

    Part A: Business Plan Summary

1. Applicant Company Details

    1.1. Company Details

    ? Please supply all details as requested.

    ? Please give exact registered company name. Where the Company trading name is

    different please state both names.

1.2. Declaration by Authorised Officer of the Applicant

    ? Please complete the declarations as requested by deleting the YES/NO prompt as

    appropriate and entering the name of the Authorised Officer of the applicant company.

2. Company Profile

    ? Prompts/questions are provided in each section and should be used as a guide to

    ensure all relevant information is captured.

    ? Where the question is not relevant or applicable it should be omitted.

    ? In some sections, where necessary, some additional points are noted.

    ? Please be concise and avoid repetition.

    ? Prompts/questions should be deleted from the completed form.

2.1. Company Overview

    ? Max length ? page.

    ? The aim of this section is to provide a short profile of the applicant company. Include

    any connected or related companies.

2.2. Company Ownership

    ? Max length ? page.

    ? Please list the shareholders, outline the group structure and the relevant experience of

    any external shareholders and directors.

    ? Where the company is part of a group, please give details of the group structure.

    ? Please include all shareholders on the shareholding (capitalisation) table on a fully-

    dilute basis i.e. table to include any existing/proposed options (including any Employee

    Share Option Programmes (ESOPs)), convertible loan stock and/or share warrants in

    issue.

2.3. Future impacts to share ownership

    ? Max Length ? page.

    ? What changes are planned to the company ownership?

2.4. Directors/Promoters Remuneration

    ? Max length ? page.

    3 of 14 rdCompany Guidelines R&D Fund. Document version of 23 Dec 2009.

    ? Please detail all remuneration to the directors/promoters either directly or indirectly.

    3. Business Strategy

    3.1. Market and Product/Service

    ? Max Length ? page.

    ? This section should clearly identify the basis of the market opportunity and sustainable

    competitive advantage.

    ? Market description should include estimates of market size and growth rates. Where

    targeting a market which does not yet exist, please explain why you believe it will exist,

    how big it is expected to be and the basis of this belief.

    ? Describe your competition and how they might react to your company‟s activities in the

    market.

    3.2. Business Model

    ? Max Length ? page.

    ? Describe how you bring/will bring your product/service to market now and/or in the

    future. Use the prompts in the application form as a guide.

    ? This section should clearly explain the pricing strategy, route to market, the sales cycle

    and the revenue cycle.

    ? Include detail on any marketing alliances or sales channels that have already been

    agreed.

    ? Discuss the main gaps relating to sales and marketing.

    3.3. Operations (including Research & Development)

    ? Max Length ? page.

    ? Please outline the business operations under the three headings Product/Service, R&D

    and Skills Capability. Use the prompts in the application form as a guide.

    3.4. Management

    ? Max Length ? page.

    ? It may be appropriate to provide an outline organisation chart showing key personnel

    and their responsibilities.

    ? Include detail on any plans to strengthen the management or Board over the period of

    the plan.

    3.5. Key Strategic Issues

    ? Max Length ? page.

    ? Describe the key strategic issues that the company is facing.

    4. Proposed Development Plan

    ? Max length ? page.

    ? Please outline the proposed actions in this development plan and how they will

    contribute to the strategic objectives of the company and the economy. ? Outline the risks and milestones associated with the actions.

    ? The focus here should be on the specific projects for which EI support is sought. ? A clear outline of each individual project should be included referencing for each

    individual project its objective(s), level of innovation, risks associated with completion

    and the strategic contribution (commercial and technical) to the overall strategy of the

    company.

    4 of 14 rdCompany Guidelines R&D Fund. Document version of 23 Dec 2009.

5. Finance

    ? Max Length ? page.

    ? Please explain any unusual items in the financial information provided in the FDS.

5.1. Historic Trading Position

    ? Max length ? page.

    ? Please outline how the company has performed against its targets over the previous 3

    years in relation to sales, exports, profitability and productivity and the reasons for any

    variances.

5.2. Forecast Trading Position

    ? Max length ? page excl. tables.

    ? Please comment on the expected trading position specifically in relation to the

    development plan(s) that will be implemented and how these will lead to the

    achievement of the sales and profit projections.

    ? Please fully complete the sales pipeline spreadsheet.

5.3. Sources of funding

    ? Max length ? page.

    ? Please identify the intended sources of funding.

    ? Use the prompts in the application form as a guide.

6. Benefits of and need for EI support

    ? Max Length ? page.

    ? Anticipated economic benefits could include, for example, some of the following:

    increase in sales, exports, jobs, R&D spend, sales from commercialised R&D where they

    result from the project(s) proposed.

    ? See the prompts in the application form.

    5 of 14 rdCompany Guidelines R&D Fund. Document version of 23 Dec 2009.

Part B: R&D Fund Project Details and Costs Workbook

    7. Notes on the ‘Summary’ Worksheet

? The cells have been colour coded as follows:

    o Cells in Yellow are to be filled in by the applicant company.

    o Cells in Orange contain formulas and are calculated automatically and so do note require

    an entry.

    o Cells in Blue are for EI use only, please ignore them.

Programme ? A programme duration of 3 years is normally accepted as the

    Start Date maximum allowed.

    and Duration

Number of ? Use the drop down menu to choose the number of individual projects

    Projects being submitted in the proposal.

    Summary of ? This table is automatically completed by figures taken from the Total individual „R&D Project‟ worksheets. Expenditure

EI Grant The applicable grant rate is based on the type of project and the size of

    Rate the company [Small/Medium/Large Enterprise] as outlined below.

    A Small Enterprise is defined as

    ? an enterprise that has fewer than 50 employees and,

    ? has either an annual turnover and/or an annual Balance Sheet total

    not exceeding ?10m.

    A Medium Sized Enterprise is defined as

    ? an enterprise that has between 50 employees and 249 employees

    and,

    ? has either an annual turnover not exceeding ?50m or an annual

    Balance Sheet total not exceeding ?43m.

    In either case, if the enterprise is more than 25% owned by one or more

    enterprises or itself has a holding of more than 25% in any other

    enterprise, it will be necessary to consult the full definition in the Official

    Journal (For the full definition, see the "“Official Journal of the European

    Commission (L 124/36) 20th May 2003 - Commission Recommendation of

    6th May 2003 concerning the definition of micro, small and medium sized

    enterprises".)

    Excluded from the holding company threshold in the above definition are

    public investment corporations, venture capital companies and

    institutional investors provided that they do not exercise control.

    However, an enterprise cannot be considered as meeting either definition

    if 25% or more of the capital or voting rights are directly or indirectly

    controlled, jointly or individually, by one or more public bodies.

    6 of 14 rdCompany Guidelines R&D Fund. Document version of 23 Dec 2009.

    Note - If a company is part of a group the employee, turnover, annual

    balance, sheet and ownership limits apply to the group.

    A company that exceeds the upper limits of the Medium Sized Enterprise

    is automatically classed as a Large Enterprise.

    The maximum R&D grant that a company can receive is ?450,000. Companies with projects in excess of this amount will be evaluated on a case by case basis by the Enterprise Ireland

    Investment Committee using a similar approach and grant rates as the R&D Committee.

The maximum percentage grant rates are given in the table below:

     Small Medium Large

    Maximum Funding Rates* Co. Co. Co. Innovative Projects that are technically challenging and involve significant risk

    Max Project funding 45% 35% 25% Innovative Projects where there is +15% + 15% +15% collaboration** between two companies

    Max Project funding 50% 50% 50%

* Note the funding rate for R&D Centres is assessed on a case by case basis and

    applicants should consult with their Agency Development Adviser/Executive to

    assess what the relevant rate would be.

* Collaboration In a collaboration project, at least two partners participate in the design of

    the project, contribute to its implementation and share the risk and the output of the project.

8. Notes on ‘R&D Project’ Worksheet(s)

    8.1. General Notes

    ? Companies should fill out a Worksheet for each individual project.

    ? Separate projects should only be used where the R&D is clearly different and there is a

    separate team working on the project. Separate projects do not make sense where there

    are separate phases or feature releases of the same basic product, or where essentially the

    same R&D team are doing all of the work over the same time period.

    ? The guidelines below apply for all worksheets.

    ? Where the application relates to the funding of a physical R&D Centre rather than a discrete

    R&D project then please fill out the R&D Centre Capital Costs Worksheet. Note the

    funding rate for R&D Centres is assessed on a case by case basis, please consult

    with your Agency Development Adviser/Executive to assess what the relevant

    rates would be.

? The cells have been colour coded as follows:

    o Cells in Yellow are to be filled in by the applicant company. o Cells in Orange contain formulas and are calculated automatically. o Cells in Blue are for EI use only, please ignore them.

8.2. Project Description

Project Title ? Give a short title for the project.

    7 of 14 rdCompany Guidelines R&D Fund. Document version of 23 Dec 2009.

    Project ? Give the project a number (1-6). Number

    ? Please insert project start date and duration. Project Start ? A project duration of 3 years is normally accepted as the maximum Date and allowed. Duration

    Purpose of ? Give a one sentence summary of the project. Project

    (Technical) ? List the expected outcomes of the work programme. Objectives ? Keep to 100 words or less.

    (Technical) ? Describe the technical work programme. Description ? Avoid repetition of information given in the technical objectives

    section.

    ? Keep to 300 words or less.

    Project Type ? Click on the “Please select Project type” and use the drop down menu (N/A for to choose the most relevant type. R&D Centre) o Product

    o Process, or

    o Combined Process and Product Development.

Project ? Click on the “Please select scope” and use the drop down menu to

    Scope choose the most relevant answer. (N/A for ? See definitions below. Use the pull down menu to pick the most

    R&D Centre) relevant project type based on the following definitions.

    Project Type Definition

    Product Platform A platform product is one which will likely generate

    a family of new products/process.

    New Substantially new product/process based on original

    Product/Process research.

    Major Upgrade Significantly enhanced existing product/process.

    Defensive A redesign of product/process for compliance with

    Redesign Specific (inter) national standards, or in response to

    competitors.

    Routine Upgrade An upgrade based on technology changes within the

    sector.

Level of ? Use the pull down menu to pick the most relevant level of innovation

    Innovation using the following definitions.

    (N/A for

    R&D Centre) Innovation Definition

    Level

    Very High Highly inventive, patentable.

    8 of 14 rdCompany Guidelines R&D Fund. Document version of 23 Dec 2009.

    High Significant level of inventiveness, function oriented

    possibly patentable.

    Medium Modest level of inventiveness, possibly patentable.

    Modest Routine redesign, feature orientated.

    Low “Me too” copy.

    ? Under the Comment, justify your rating in 200 words or less taking

    into account the following

    o How the proposed level of technology compares with current activity

    within the company?

    o Whether the technology has been developed elsewhere?

    o Is it new to the world or new to the company?

    o What are the technical uncertainties?

Level of ? Use the pull down menu to pick the most relevant level of technical

    Technical risk using the following definitions. Risk

    (N/A for Risk Level Definition

    R&D Centre) Very High Company is developing a totally new and advanced

    technology.

    High Major advances to existing products.

    Medium Good prospects for success, e.g. upgrade involving new

    functions.

    Modest Risks are low, reasonable developments (e.g. new

    features) to existing products/processes.

    Low Little real development work taking place e.g. modest

    upgrades.

    ? Under the Comment, justify your rating in 200 words or less taking

    into account the following:

    o Steps taken to address intellectual property issues.

    o Patent research for infringement of existing technologies, technical

    novelty, prior art etc.

Collaboration ? Comment on any proposed formal collaboration with another R&D

    (if any) partner. (See section 3 above for definition of Collaboration.) (N/A for

    R&D Centre)

8.3. Project Planning

    In order to assess the achievability of the project as part of the technical due diligence, please

    attach the following:

    ? A project(s) plan showing key tasks, milestones and the resources (people and equipment)

    required to implement the projects.

    ? Outline of Project organisation and project management process

    ? CVs of key R&D personnel (one paragraph per person)

Note that for small projects, the Gantt chart provided in the spreadsheet can be used.

    9 of 14 rdCompany Guidelines R&D Fund. Document version of 23 Dec 2009.

8.4. Salary Costs for Project R&D

Employee ? Enter the full name of the employee.

    Name ? If not known at this stage, use “TBC”.

Role on ? Enter job role e.g. project manager, software developer, researcher

    Project etc.

    Category ? Click on “Select” and use the pull down menu to select the correct

    category Existing (already in the company R&D team), New hire or

    Redeployed (moved into R&D for this project).

Annual ? Salary costs for personnel e.g. researchers, technicians and other

    Salary supporting staff to the extent employed on the project are eligible.

    ? The annual salary figure eligible is normally limited to a maximum of

    ?80,000 (exclusive of employer‟s PRSI contributions).

    ? The salary costs of the Managing Director (MD) or Chief Executive

    Officer (CEO) is not eligible with the exception of Small Enterprises

    (see definition on page 7) where a maximum 30% MD or CEO time

    may be eligible where it is deemed to be critical to the project.

    ? For Small and/or Medium Sized Enterprises a portion of the cost of

    the loan of qualified personnel seconded to the applicant company is

    eligible. Up to a maximum of 50% of salary costs, for up to three

    years, in addition to agreed recruitment costs incurred by the

    Company, are eligible. Secondment describes the temporary

    employment of a person by the applicant company for an agreed

    period of time after which the person has the right to return to his/her

    previous employer. The maximum salary on which this % is based

    will be determined by the Approving Committee. The person may be

    seconded from a research organisation or a large enterprise to the

    SME company, and the seconded person must be employed in a newly

    created function, must work on research, development and innovation

    activities and must have been employed for at least two years in the

    research organisation or large enterprise.

    ? Note that pensions and bonuses are not eligible as salary costs.

    ? Note that the costs of administration, finance and marketing are

    covered under the 30% overhead allowed. The overhead is calculated

    automatically and added to the salary costs in the Summary Table.

    No. Annual ? Enter the correct number of annual leave days. leave days

    Daily Cost ? This is automatically calculated by using the annual leave days and

    annual salary figure.

    ? The calculation subtracts the number of weekends (104) and the

    number of bank holidays (10) as well as the annual leave in making

    the calculation.

    ? The available hours is based on a rate of 7.8 hours per day.

    10 of 14 rdCompany Guidelines R&D Fund. Document version of 23 Dec 2009.

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