Startup Supports
Innovative High Potential Startup Funding
The Enterprise Ireland Innovative High Potential Startup Fund plays a critical role as early-stage seed funding for innovative, scalable Irish businesses. It is an equity investment by Enterprise Ireland, alongside private equity investment, most likely from Angels or VC’s.
Furthr works in tandem with Enterprise Ireland in getting potential iHPSU companies investor ready and supporting them to prepare key application documentation for iHPSU Funding, specifically the iHPSU Application Form and the Financial Data Sheet (FDS).
Who is it for?
Enterprise Ireland will invite you to apply for iHPSU funding; if you are already an Enterprise Ireland client that meets the eligibility criteria, have demonstrated sufficient commercial and technical traction to date, and have firm commitments from private investors.
You should have ambition for your start up to scale to a minimum of 10 Employees, and €1M in revenue (inclusive of exports) within 3 years of receipt of iHPSU Funding and demonstrated significant proof points at time of application submission that you are on track to achieve this.
Watch this short video above to understand who iHPSU is for & how you can apply.
How do I apply?
You need to be invited to apply by your Enterprise Ireland Client Advisor. Enterprise Ireland Client Advisors and Furthr Consultants work together in guiding companies through becoming investor ready and through the formal iHPSU application process.
iHPSU Application Form
Financial Data Sheet
Supporting Legal & Compliance Documents (company registration, company filings, management accounts, IP ownership)
Following a thorough review by Enterprise Ireland’s commercial, technical and legal teams, your Client Advisor presents your case for consideration to Enterprise Ireland’s Investment Committee.
How will Furthr help me with my HPSU application?
HPSU Funding
for 28 Furhtr clients in 2024 reached
€16.5m
Furthr together with the other 3 Irish BIC’s (Axis BIC, Propelor BIC and West BIC) deliver individual and group (accelerator) supports to startups to get them investor ready. As a startup approaches investor readiness and reaching the key technical, commercial and investment commitment milestones, Furthr consultants will work with them one to one in navigating the iHPSU application documentation requirements.
Our process is:
1. An initial online
screening meeting
with our Head of
Acceleration to map out your Funding targets
and timelines
2. Allocation of a
Furthr Consultant
to guide you on
your fundraising
journey
3. The Furthr
Consultant will liaise
with your Enterprise
Ireland Client Advisor
regarding your iHPSU
and FDS application
intentions
4. Review and
feedback sessions
Investor Memorandum,
Teasers and Pitch
Decks as well as your
iHPSU and FDS
submissions to EI
5. Review and
feedback on
additional
documentation, e.g.
investor termsheets
and data room setup