Enterprise Ireland opens first call of €1.25m fund for Irish retailers

New fund will accelerate retailers’ online offering and increase competitiveness

The first call of the Enterprise Ireland Online Retail Scheme has opened for applications.

The new €1.25m fund is targeted at online retailers to encourage acceleration of their online offerings. It will remain open for six weeks, closing to applications at 3pm on Wednesday, December 5, 2018.

The fund, which was launched by Minister for Business, Enterprise and Innovation, Heather Humphreys TD, is an initiative of the Government of Ireland and Enterprise Ireland and will provide up to €25,000 in funding to up to 25 retailers, amounting to €625,000 in this first call.

The purpose is to support online retailers to enhance their online sales capabilities to increase competitiveness and subsequently scale their businesses in international markets.

Minister for Business, Enterprise and Innovation, Heather Humphreys TD said:

“The retail sector is lucrative and highly competitive and it is important that we encourage its sustained growth by providing the mechanisms with which retailers can actively develop wider offerings online. My Department is committed to delivering the objectives of Ireland’s enterprise strategy, Enterprise 2025 Renewed which aims to support the creation and sustainability of quality jobs across Ireland and to increase Irish businesses’ trading capabilities in response to external challenges like Brexit."

The scheme is a pilot initiative developed in response to the current challenges around online capability within the retail sector. The fund will provide grants between €10,000 and €25,000 on a match fund basis with the specific purpose of enhancing digital capability. The total fund size is €1.25m and areas for funding include research, strategy development, implementation and training.

Commenting, Stephen Hughes, Head of Consumer, Enterprise Ireland said: “Ireland’s retail sector is a primary contributor to our economy but it is under significant pressure, particularly from international competitors with the digital means to extend their reach to Irish consumers. By delivering the Online Retail Scheme, we intend to support Irish retailers to innovate and through innovation, to increase their competitiveness and enhance their online presence.”

The Online Retail Scheme is open to applications from retail SMEs with 20 – 249 employees (FTEs ) based across the island of Ireland and who have a retail outlet.

Stephen Hughes added that at least half of the total number of funds will be awarded to Irish retail businesses based outside of Dublin.

Further information at www.enterprise-ireland.com/retail, or email [email protected].

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