Enterprise Ireland Regional Enterprise Development Fund (REDF)

Kerry County Council wishes to advise that the Enterprise Ireland Regional Enterprise Development Fund (REDF) was launched on Monday 29th May 2017.

This competitive funding has been provided by the Department of Jobs, through Enterprise Ireland and is a key action to support the Regional Action Plan for Jobs and the Action Plan for Rural Development. The Fund is aimed at accelerating economic recovery in every part of the country by delivering on the potential of local and regional enterprise strengths. The Fund will support significant collaborative regional initiatives to build on specific industry sectoral strengths and improve enterprise capability, thereby driving job creation.Under a competitive process, Enterprise Ireland is now seeking applications for funding under four streams with varying investment levels:Stream 1 - Major Change Projects - €2m up to €5m per project,Stream 2 - Regionally Significant Projects - €250,000 up to €2m per project,Stream 3 - Local & Community Enterprise Development Projects - €50,000 up to €250,000 per project,Stream 4 - Industry Clusters - €50,000 up to €250,000 per project.

Competitive feasibility funding of 50% of the cost up to maximum grant of €22,500 to support the development of high quality regional projects is also available as part of this initiative.

Whilst all eligible projects may be submitted and will be assessed under the competitive process outlined above, the South West Region has under the Regional Action Plan for Jobs forum identified three priority collaborative areas as local and regional enterprise strengths. These are the areas of Tourism, Fin-tech and Agri-tech. Tourism projects are not eligible under this call for proposals and therefore Kerry County Council will particularly prioritise supporting projects in the areas of Fin-tech and Agri-tech in Stream one and Stream two scale applications. The Council will prioritise these potential large scale submissions that have undertaken initial feasibility studies under the feasibility call, applications for which must be submitted by Friday 9th June 2017.

Eligible Applicants
To be eligible all applicants must be registered as a Designated Activity Company, (DAC) or a Company Limited by Guarantee, (CLG) under the Companies Act 2014. Where the Applicant is a DAC, the constitution of the applicant shall provide that no payment (other than reasonable and proper payments for services rendered, vouched expenses or rent for premises let to the Company) transfer or distribution may be made directly or indirectly to a member and that, upon a winding up or dissolution of the company, no transfer, payment or distribution may be made to a member but that instead all net assets shall be given up or transferred to some other institution or institutions having main objects similar to the main objects of the Company and which shall prohibit the distribution of its or their income and property amongst its or their members to an extent at least as great as is imposed on the Company.

The Applicant will be not for profit entities that have already, or propose to, set up a distinct legal entity (DAC/CLG) that comprise national/regional, county and local stakeholders, with a purpose of benefiting the wider needs of the community and region/nation as defined in the relevant streams outlined above.Applicants can be promoted by private or public organisations, which for example might include: Higher Education Institutes Semi State Commercial bodiesLocal Enterprise Development GroupsLocal AuthoritiesIn addition, Industry Clusters must comprise of at least five companies.

For full details of the scheme please visit the Enterprise Ireland Website.

www.enterprise-ireland.com/REDF

Kerry County Council, Co. Buildings, Rathass, Tralee

Phone: (066) 718 3500     Email: info@kerrycoco.ie