Equity Investment Fund
Covid-19 Equity Investment Fund will help early-stage high-growth potential businesses in Northern Ireland access financing to progress their business plans and prepare for recovery and growth.
Applications for Equity Investment Fund are currently now open. All legal documentation must be completed by 12 pm, 31 December 2020.
Who is eligible for Covid-19 Equity Investment Fund?
As an early-stage high-growth potential business, you are eligible if:
- The majority of your business operation is based in Northern Ireland.
- Your business is an unlisted small and medium-sized business (SME) operating in a market for less than seven years following the first commercial sale.
- Your business was not in financial difficulty or subject to insolvency procedures on 31 December 2019 but is adversely impacted by COVID-19, including its ability to raise financing.
- You can quantify the impact CEIF support will have on your business such as research and development into new products and/or helping you access new sales and marketing opportunities.
- You can demonstrate your business has innovative technology, a significant international market opportunity, export growth prospects, credible promoters and a scalable business model.
- You can demonstrate how the funding will increase the value of your business and outline potential exit opportunities.
- You have already sourced investment from other investors but still, have a shortfall in what you need to achieve your business plan.
Who is not eligible to apply?
Some of these following businesses are not eligible to apply:
- Banking and insurance companies.
- Businesses operating in coal, steel or shipbuilding.
- Businesses involved in decommissioning or the construction of nuclear power stations.
- Manufacturing businesses associated with the processing and marketing of tobacco and tobacco products.
- Businesses investing in airport infrastructure unless related to environmental protection or accompanied by investment necessary to mitigate or reduce its negative environmental impact.
Businesses facing difficulty within the meaning of Article 22 of the State Aid COVID-19 Temporary Measures June 2020.
- Agricultural producers associated with the processing and marketing of agricultural products supported by the European Agricultural Fund for Rural Development.
- Agricultural producers in fisheries and aquaculture supported by the European Fisheries Fund.
- Businesses providing general education to children of school age.
- Businesses supporting or refurbishing retail facilities.
- Businesses working in the synthetic fibres sector.
- Businesses operating in defence and safety.
How to apply
Applications can only be made online.
If you have reviewed your funding requirements with existing and potential funders and can confirm there is a gap as a direct result of COVID-19, please contact Invest NI to progress an application.
Read the full press release here
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