The scheme is part of Government’s programme of assistance for regional enterprise development and assistance to regions facing socio-economic difficulties and transition as a consequence of the Covid-19 pandemic and other regional challenges associated with Brexit.
The objective of the Regional Enterprise Transition Scheme is to provide assistance, including funding supports, to regionally based not-for-profit undertakings that provide economic support to enterprises in sectors and regions negatively affected by Covid-19, as well as a consequence of the withdrawal of the UK from the EU (Brexit).
This Scheme aims to offer a targeted solution to both existing and new Regional and Community-based projects that can demonstrate the ability to deliver impact and execute project deliverables in the current year. These not-for-profit projects should aim to improve the capability and competitiveness of regional enterprises and encourage entrepreneurial activity, productivity, and innovative capability in that regard.
Applicants for Regional Enterprise Transition Scheme funding must show all project spend in 2021.
The purpose of this Scheme is to:
- Enable applicants to support enterprises, which are predominantly SMEs, in their response to economic and market challenges, such as the impact of Covid-19 and Brexit, as well as the transition to a low carbon economy, digitalisation and smart specialisation.
- Assist not-for-profit DACs, CLGs or eligible public bodies that will deliver initiatives which have, or will have, a positive impact on entrepreneurial activity, and/or productivity, and/or innovative capability of enterprise.
- Assist these applicants in enhancing the productivity and new product development opportunities of SMEs in order to increase internationalisation opportunities and sustain employment across all regions.
Specific areas of focus for these collaborative not-for-profit projects would therefore incorporate innovation, incubation of enterprises, research and development or the delivery of one or more of the following:
- Initiatives to help enterprises respond to Covid 19 and Brexit
- Digital Transformation & Digital Capability initiatives
- Climate Change & Sustainability
- Clusters and Sectoral Development activities
- Innovation and Internationalisation Capability development
- Women in Business/Entrepreneurship activities
Final date for acceptance of applications is 8th September 2021.
For more details and Application Forms go to Enterprise Irelands website:
https://www.enterprise-ireland.com/en/funding-supports/Regional-Enterprise-Transition-Scheme/
Feasibility Funding
In addition to the main Scheme, separate funding of €500,000 is also being provided for an associated RETS Feasibility Study Fund to support detailed evaluation of early-stage opportunities for new impactful regional enterprise development projects. For further details and application forms for this funding, click here:
The closing date for Feasibility Study applications will be 01 October 2021.
The RETS Feasibility Study funding will support project spend up until 30 June 2022.
