The aim of the Market Discovery Fund is to incentivise companies to undertake market research and develop viable and sustainable market entry strategies in new geographic markets. Sales and Marketing activities cannot be supported. The Market Discovery Fund provides support towards internal and external costs incurred when researching new markets for products and services. Support can be provided over an 18 month period from project start date to project end date.
Support for Market Discovery Fund applies when eligible Gaeltacht companies are either looking at a new geographic market for an existing product/service or an existing geographic market for a new product/service.
A company can apply for support for Market Discovery Fund more than once provided each application considers a new market for an existing product or existing market for a new product.
The Market Discovery Fund is available across three levels:
The Market Discovery Fund is open to applications from:
Support may be approved against eligible expenditure across a range of categories including: Salaries, Overheads, Travel & Subsistence (Overseas), Consultancy, Business Accelerator, Trade Fairs, Reports, Collateral and Rent of Office Space associated with the Market Discovery project.
You are eligible to apply for a Market Discovery Fund if you are a client of Údarás na Gaeltachta that meets the following criteria:
(please discuss with your Development Executive for further detail on HPSU eligibility):
Food and Drinks companies may be eligible for the Market Discovery Fund and should contact your assigned Údarás na Gaeltachta Development Executive to discuss.
The maximum funding is 50% of eligible expenditure up to a maximum grant of €150,000.
The grant allows the client to:
The client may use any or all of the following resources to undertake the market research. Further details are available by downloading Market Discovery Fund Company Guidelines. <—Add Link
Wages and salary costs of personnel assigned to the project can be supported.
The maximum eligible salary is €80,000 per annum per employee exclusive of employer’s PRSI and bonuses.
The company has the option to;
Overheads are eligible up to a maximum of 30% of wages and salaries.
Only Travel and Subsistence costs for overseas trips related to the proposed project are allowed.
Foreign Travel and Subsistence costs must be for company employees.
Costs of hiring a consultant(s)/consultancy firm to input or undertake the proposed project are set at a Maximum of €900 per day.
4.1 Business Accelerator
A Business Accelerator is an Údarás na Gaeltachta appointed in-market industry expert within a specific sector and market, with the experience, knowledge and contacts to support a company’s expansion and development into an export market.
Maximum Daily Rate of €1,500 per day for a maximum of 25 days, inclusive of consultant’s time and all associated travel, subsistence and out of pocket expenses.
Not available to Large Companies.
The maximum financial assistance available for Trade Fair participation is €75K (expenditure).
Up to a maximum of €25,000 expenditure for office rent in the new market for a maximum duration of 18 months. The office is to be used for the purposes of the new market assessment only and not for sales or distribution activities.
Market Research Materials
The cost of purchasing reports and databases relating to a new market/sector are eligible for support.
The development cost of market collateral for use in the new market is eligible. The cost can include designing collateral, localisation, market specific value proposition messaging and translation for market testing.
All applications for funding should be discussed with your Údarás na Gaeltachta Development Executive prior to submission.
Prior to applying you must do the following:
Contact your assigned Údarás na Gaeltachta Development Executive to discuss your application.
Any expenditure incurred prior to receipt of the application by Údarás na Gaeltachta will not be eligible for grant aid.