Define a High Potential Start Up (HPSU)
A HPSU can be defined as:
- A business that is engaged in a manufacturing or internationally traded service (the main categories of business that we work with include software/technology, food, med-tech, consumer products, industrial and life sciences).
- Very strong export potential – Is globally scalable
- Headquartered in Ireland
- Less than 5 years old (from date of incorporation)
- Is capable of generating revenues of €1 million annually within three years and/or employing more than 10 people
What are the typical characteristics of a HPSU?
A business that:
- Has gone beyond concept/ideation stage
- Has typically developed an MVP (minimal viable product) or is at BETA/trial stage (the exception being some sectors such as deeptech and lifesciences that may have particularly lengthy development timeframes)
- Ideally will be led by an experienced team with strong domain knowledge
- Has a clearly defined business plan. In some cases where there is a particularly experienced team or a serial entrepreneur involved, we are happy to engage pre business plan
- Will typically be looking to raise external investment/will need significant investment to accelerate international growth
Pre-Seed Stage – How can Enterprise Ireland help in my HPSU journey?
At Pre-Seed stage (Validation and Product Market Fit)
- Capability development programs to assist the company build out value proposition and attain product/market fit
- Feasibility grant to support the development of an innovative/high potential start-up and the development of an Investor Ready Business Plan.
- Mentoring and advice
- Competitive Pre Seed stage equity funding (CSF) is available to help the company attain key commercial and technical milestones
- Pitch training
- Access to market research
Seed stage – How can Enterprise Ireland help in my HPSU journey?
At Seed stage (Early stage scaling)
- Seed equity funding to accelerate the execution of a business plan and support a company from late stage validation through to early stage scaling
- Access to Enterprise Ireland’s international office network to build global sales
- Tailored learning to cope with ever changing demands of scaling a start up.. Clients access a wealth of peer knowledge, masterclass expertise and mentorship through our Founders Forum
- Post Seed stage investment, the focus of founder teams typically switches to driving revenue growth across new markets. A range of supports are focused on exploring new international opportunities and further expanding the management team to accelerate growth
What if I am too early for Enterprise Ireland HPSU Support?
- If your project is still at an early stage and is not meeting the necessary criteria, but you feel it will have the potential to become a HPSU within the next 12 months, you should approach your Local Enterprise Office to discuss the supports they can offer to help you progress the project towards becoming a HPSU candidate.
- We work closely with the LEOs on these potential HPSU projects and we work closely with you the client and your LEO to transition projects to the Enterprise Ireland HPSU team.
If you are ready to discuss your proposal with Enterprise Ireland and believe your project meets the criteria, get in touch with the HPSU team now;
Contact Us :
- Enterprise Ireland will respond to your query within 3-5 working days
- We may then seek further details in the form of business plan, financials projections, investor deck
- Subject to receipt and review of documentation, we will schedule a follow up discussion/meeting as required, or signpost to relevant alternative supports in the market at this stage in your development