The objective of the Innovation Voucher initiative, which I launched in March and which is being administered by Enterprise Ireland, is to build links between Ireland's public knowledge providers and small businesses to create a cultural shift in the small business community's approach to innovation whilst creating greater synergies between the two.
This initiative, which is based on a recommendation by the Small Business Forum, will operate initially in pilot phase commencing April 2007. The target set for this phase of the scheme is to issue 200 vouchers worth €5,000 each. The vouchers can be exchanged for advice and expertise from the research provider and will be available to the widest range of small businesses in Ireland. On completion of the pilot, a full evaluation and review will be completed to see how the initiative can be developed and improved.
In order to be successful in an application for an Innovation Voucher, the company's project must require an innovative solution, provide additional value for the company and have on-going benefits. Enterprise Ireland's assessment process will ensure that those applications that demonstrate clear added-value for their business and that are innovative in nature will be awarded a voucher.
An advantage of this initiative is that a small business can continue to concentrate on running its business whilst its chosen knowledge provider works on the innovative solution to the firm's identified problem or business opportunity. Through the process of assigning the voucher to the knowledge provider in exchange for the provider's advice and expertise, linkages will be built between the small firm and the research organisation.
