Enterprise Ireland Innovative HPSU Fund

Program Overview

The Innovative HPSU Fund represents Enterprise Ireland's enhanced equity offering for high-growth potential startups, providing up to €1.2 million in funding (compared to €800K for standard HPSU). This program targets particularly innovative companies with strong international growth potential and scalable business models.

Key Differences from Standard HPSU

The Innovative HPSU offers 50% more funding (€1.2M vs €800K), targets companies with higher innovation intensity and international market potential, requires demonstration of competitive technological or business model advantages, and often involves co-investment with private sector venture capital firms.

Eligibility Criteria

Your startup must demonstrate: (1) significant innovation in technology, business model, or market approach, (2) clear path to €1M+ revenue within 3-4 years with potential to reach €10M+, (3) strong international market opportunity beyond Ireland and UK, (4) experienced management team with relevant domain expertise, and (5) credible plan for additional fundraising to support growth.

Investment Structure

Enterprise Ireland typically invests in stages through convertible notes or equity instruments. Initial funding of €150,000-€300,000 validates the business model, followed by subsequent tranches tied to achievement of commercial milestones, customer traction, and international market entry. Co-investment with private VCs is encouraged but not required.

Application Timeline

Submit initial application with detailed business plan, market analysis, financial projections, and team credentials. Applications are reviewed on rolling basis. Successful applicants present to evaluation committee. Full due diligence and investment decision typically takes 10-16 weeks. Contact Enterprise Ireland's regional offices to discuss eligibility before applying.