Support for

High Potential Start-Ups (HPSU)

Business name: ___________________ Promoter: ________________

Please read the following guidelines carefully before completing the

Outline Business Proposition form.

AM I ELIGIBLE?
Enterprise Ireland supports high potential start-ups, companies that are
internationally focused and have the potential to employ at least 10 people
within three years and generate annual recurring revenues of at least
€1million. The purpose of this form is to identify eligible start-up businesses
that have the potential to develop into export led investible companies
within a time limited engagement of 18 months. In order therefore to be
considered for HPSU support please complete the following:

ONLY COMPLETE THIS OUTLINE BUSINESS PROPOSITION FORM

IF YOU SATISFY ALL OF THE CRITERIA BELOW


 Have developed an innovative product or service
for sale in export markets ☐
 Have developed a minimal viable product and
can demonstrate some level of market validation ☐
 Are engaged in an eligible activity (a manufacturing
or internationally traded service)* ☐
 Are less than 5 years old from date of incorporation ☐
 Have the potential to create at least 10 jobs in Ireland
and €1m in annual sales within 3 years of starting ☐

*Some businesses activities may be deemed ineligible as they fall outside the HPSU
support remit based on Enterprise Ireland policy or due to legal constraints.
`

The following outline business proposition form is designed to assess:

a) Whether your proposal meets the eligibility criteria to become a high

potential start up

b) Whether the business is at a suitable stage of development to join the

HPSU programme

Please refer to the appendix at back of the form for details of supports
available to start-up businesses that may not be eligible for HPSU support.

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 CONTACT DETAILS

COMPLETE IF YOU HAVE

COMPLETE AN DO
IF YOU IRISH
NOT REGISTERED COMPANY
HAVE AN IRISH REGISTERED
COMPANY
Name ________________________ Role ______________________
(Please note Enterprise Ireland can only support companies
Company Name
when__________________________________________
the headquartered is registered in Ireland)

CRO No _________________ DateinofIreland?

Are you currently living Inc ______________________
Yes ☐ No ☐

Trading Name (ifwill

If No, different from above)
the Founders move________________________
to Ireland
and base the Headquarters in Ireland. Yes ☐ No ☐
Registered Address ________________________________________
Are you relocating an existing
________________________________________________________
business to Ireland Yes ☐ No ☐

Telephone Name
_________________ Email _________________________
__________________________ Nationality ________________

Web ____________________ Linked In _______________________

Proposed Company Name____________________________________

Address _________________________________________________
THE BUSINESS
________________________________________________________

Telephone ___________________ Email _______________________

Web _____________________ LinkedIn _______________________

PRODUCT/SERVICE

What have you developed?

a) a manufactured product ☐
b) an internationally traded service ☐

Describe in simple language the product/service you have developed, what

it actually does and who will buy it.

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What problem will you solve and why will customers buy it?

What is your Unique Selling Proposition (USP)?

Stage of development?

Idea/Concept ☐ Design/Prototype  Free Trials ☐

Paid Trials
Stage ☐ Finished product, not generating revenue
of Development? ☐

Finished product, generating revenue (with Purchase Orders) ☐

(Expand as necessary)

What aspects of the product/service, if any is currently being sub-

contracted to a third party and where is the sub-contractor based? Explain.

FINANCE

Please complete Section A Or B

A. Complete the following if your business is currently generating

revenue from the proposed activity.

Country Name Jan ‘20 – date (€) % Revenue

1.
2.
3.
Total 100%
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Financial projections
 B. Complete the following if the company is NOT currently generating
revenue from the proposed activity

When will you start selling? ______________________________________

Please insert financial projections below (specifying each month/year)

Year 1: _______ Year 2: _______ Year 3: _______

Sales €
Net Profit €
Exports €
Employees (No)

COMPANY STRUCTURE

Is the company part of a group structure? Yes ☐ No ☐

If yes, please describe, by group structure diagram or otherwise,
the relationship of other businesses/undertakings to the applicant company.

Company ownership and control

Please note that due diligence is undertaken by Enterprise Ireland on
founders, shareholders and directors for all HPSU applications. Complete
the table below to describe the applicant company’s ownership and control.

Shareholders

Shareholder Residency % Shareholding Amount

Invested

Directors (if not included above)

Director Residency Role in Company

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Please give details of ownership of those named above in any other
businesses/undertakings.

Name Company, location Nature of business Year %

and registration no. founded Shares

THE TEAM
Founders
Tell us in one or two sentences something about each Founder that shows
their level of ability/experience to support this business.

Have you been involved in a start-up before? Please provide details

Have any of the founders engaged with Enterprise Ireland before? If yes,
with whom and when?

Job Creation
How many people are currently taking a salary from the business
Full time: ☐ Part time: ☐
What types of jobs will your company create and what are the skills levels
required?

What gaps if any are there in your Management Team?

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 THE MARKET

Who are your existing target customers?

Is this product/service? B2B ☐ B2C ☐ Both ☐ Explain:

Will your company operate in a regulated sector? Explain:

How will you sell to these customers?

How large is the identifiable market opportunity (obtainable/addressable)?

Please provide details of research you have conducted to validate the

market and opportunity.

COMPETITION

How will you protect your product/service? Do you hold IP/patents/licence?

If not, who owns the rights?

Why would your project be hard for someone else to duplicate?

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Who are your direct and indirect competitors?

FUNDING AND SUPPORT

Local Enterprise Office

Have you been in contact with your Local Enterprise Office (LEO)?

LEO Client Yes ☐ No ☐

Which LEO ______________________ Contact ___________________

Have you Received LEO Funding Yes ☐ No ☐

Please give full details of all LEO funding approved, any drawn down
(including dates) and any not yet drawn down. Enterprise Ireland
undertakes due diligence to establish funding levels.

Please give details of total state funding approved to date.

Have you been in contact with any other funding agencies or has this
business received any other state support in Ireland/EU?

Have you completed any entrepreneur support programmes?

New Frontiers ☐
LEO courses ☐
Business Innovation Centre ☐
Competitive Start Fund ☐
Accelerator ☐ ________________________________
Other ☐ Please give details:

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Does this business originate from public funded research or would it be
considered a spin out from a 3rd level Institution?

How much finance do you require to progress the business?

Where/from whom do you plan to raise this funding/investment?

What will this funding/investment be spent on?

Have you approached any potential investors? Yes ☐ No ☐

(please give details)

Are you able to invest personally in the next funding round? If yes, how
much do you plan to invest?

What supports are you seeking from Enterprise Ireland?

How did you hear about the HPSU Programme?

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What are the 3 key priority steps in progressing the business?

1
.
2
.
3
.

Confidentiality
Enterprise Ireland is aware of the need for confidentiality and we handle,
on a daily basis, highly sensitive information in relation to client companies,
including information relating to client’s intellectual property. Our
confidentiality policy is underpinned by the statutory protections on
confidentiality set out in Section 16 of the Industrial Development
(Enterprise Ireland) Act 1998.

General Data Protection Regulation

To view Enterprise Ireland’s privacy policy, visit https://www.enterprise-
ireland.com/gdpr.

Enterprise Ireland is committed to its transparency obligations under the

General Data Protection Regulation (GDPR). Our data protection notice for
personal data that is supplied to us by our clients is available at the above
link. This notice contains important information about how we process
personal data that is supplied to us by clients. We request that you read
the notice carefully and that you ensure that it is made available to any
data subjects (e.g. your employees) whose personal data you provide to
us.

By ticking I agree, you confirm that: (a) you have complied with your own
data protection obligations in respect of the personal data that you supply
to us and that you are entitled to disclose such personal data to us; and (b)
you will ensure that a copy of our data protection notice (available here) is
sent to data subjects (e.g. your employees) whose personal data you
provide to us.

I agree ☐

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 Completed by: _____________________________ Date____________

Please email the completed Outline Business Proposition form, together

with any supporting documents to your nearest Enterprise Ireland office.

Your Location Email

Dublin, Kildare, Wicklow HPSUenquiries@enterprise-ireland.com
Outside Ireland

Westmeath, Longford, Meath mark.atterbury@enterprise-ireland.com

Offaly and Laois james.maloney@enterprise-ireland.com

Waterford, Wexford, Kilkenny, Brian.fives@enterprise-ireland.com

Carlow.
jacqui.norton@enterprise-ireland.com
Cork
ciara.concannon@enterprise-
ireland.com
Clare, Limerick, Kerry, Tipperary catherine.hogan@enterprise–
North and South ireland.com
harriet.cotter@enterprise-ireland.com

Galway, Mayo, Roscommon. westenterprise@enterprise-ireland.com

Cavan, Louth, Monaghan
aidan.mckenna@enterprise-ireland.com
anne.caldwell@enterprise-ireland.com
StartupBorderRegion@enterprise-
ireland.com
deirdre.craven@enterprise-ireland.com
Sligo, Leitrim, Donegal;  carole.brenan@enterprise-
ireland.com

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 APPENDIX

ENTERPRISE IRELAND PROGRAMMES AND SUPPORTS

FOR EARLY STAGE START-UPS

€50k COMPETITIVE START FUND (CSF)

The CSF is an open competition, designed to accelerate the development of start-

up companies by supporting them to achieve commercial and technical
milestones, for example, evaluate overseas market opportunities and reach firm
conclusions regarding the viability of the proposed business. Applications are
made online and include a video pitch. The fund is open several times throughout
the year with special calls for specific sectors. Go to Competitive Start Fund

NEW FRONTIERS PROGRAMME

New Frontiers is Enterprise Ireland’s national entrepreneur development

programme for early-stage startups. It is based in 14 campus incubation centres
across the country. If you have an innovative business idea and are planning to
establish and run your own company, the programme is designed to help
accelerate your business and to equip you with the skills and contacts to
successfully start and grow your company. Go to New Frontiers

FOODWORKS IRELAND PROGRAMME

The Food Works Programme is a joint initiative between Enterprise Ireland, Bord
Bia and Teagasc. The aim of the programme is to find and foster a new group of
food entrepreneurs. Food Works is currently open for enquiries. Please register
online for an Introductory Meeting. Go to Foodworks Ireland

BIO INNOVATE PROGRAMME

BioInnovate Ireland is a national medical technology innovation training

programme that aims to act as a neutral territory in which academia, clinicians
and industry can collaborate to develop novel medical technologies. The
programme is a partnership between multiple universities (NUI Galway, University
of Limerick and University College Cork), engages with hospitals all over the
country, and is supported by Enterprise Ireland, IMDA and multiple industry
sponsors. Go to BioInnovate

INNOVATION VOUCHER

Enterprise Ireland’s Innovation Voucher initiative was developed to build links

between Ireland's public knowledge providers (i.e. higher education institutes,
public research bodies) and small businesses. Innovation Vouchers worth €5,000

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are available to assist a company or companies to explore a business opportunity
or problem with a registered knowledge provider. Go to Innovation Voucher

REGIONAL ACCELERATORS

The Enterprise Ireland Accelerator programme is part of the organisation’s overall

strategy to enhance the High Potential Start-Up ecosystem and for increasing the
number and quality of start-ups. Four Regional Accelerators have been launched:
Propeller Shannon in Clare, NDRC@ PorterShed and BioExel in Galway, and
NDRC@ArcLabs in Waterford. The Accelerators focus on the Digital Technology,
Aviation and Medtech sectors and provide investment and mentoring support.

LOCAL ENTERPRISE OFFICE (LEO)

Enterprise Ireland partners with the national network of LEOs to help

develop early stage start-ups into globally ambitious businesses that have
some form of validation. Once a satisfactory level of validation has been
achieved the LEO recommends that a company progresses to Enterprise
Ireland. The LEOs are our partners in enterprise development and provide
a first-stop-shop, offering a range of supports for start-up companies
employing less than 10 people and initially trading on the domestic market.
Some of the LEO supports include:

• Feasibility/Priming/Business Expansion Grants

• Mentor Support
• Market Research
• Courses/Training Programmes
• Online Trading Vouchers
• Business Networking

For further details and to find your nearest office go to

www.localenterprise.ie

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