High Potential Start-up Funding
The Enterprise Ireland High Potential Startup (Innovative HPSU) plays a critical role as early-stage seed funding for innovative, scalable Irish businesses. It is an equity investment by Enterprise Ireland, which must be 50% or more matched by 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).
Startup Supports
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.
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?
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:
An initial online screening meeting with our Head of Acceleration to map out your iHPSU Application target timelines
Allocation of a Furthr Consultant to guide you on the iHPSU and FDS submissions
The Furthr Consultant will liaise with your Enterprise Ireland Client Advisor to ensure application goals are aligned
Formal review and feedback session on first draft of iHPSU and FDS submissions
Formal review and feedback session on subsequent revisions (if needed)
Review and feedback on additional documentation, investor termsheets, pitches and data rooms
