DCU Innovation Voucher Process (from 1st June 2015 onwards)

DCU Innovation Voucher Process (from 1st June 2015 onwards) “The Innovation Voucher initiative was developed to build links between Ireland's public knowledge providers (i.e. higher education institutes, public research bodies) and small businesses. Innovation Vouchers worth €5,000 (and €10,000) are available to assist a company or companies to explore a business opportunity or problem with a registered knowledge provider.” • A company may only have one ‘active’ voucher at any point in time • Companies will not be eligible for further vouchers until their accounts with the knowledge providers are settled in full (including the payment of VAT). • Innovation Vouchers are exclusive of VAT. The company will be charged VAT by DCU and this cost MUST be settled separately by the company. E.I. Available Voucher Types ( as per EI website)  Standard Voucher: Standard €5k vouchers are available to assist a company explore a business opportunity or problem with a registered knowledge provider. You can only apply for one of these standard €5,000 vouchers during one of EI’s open calls. You do not need to identify your knowledge provider in advance and they are valid for 12 months from the date of issue. Please consult EI’s schedule of calls when submitting your application  Co-funded Fast Track Application: The value of the voucher is €5,000 and the company contributes 50% of the project costs in cash. Therefore, a company may use a Fast Track voucher to cover project costs up to €10,000 on a 50-50 co-funded basis. The company and the knowledge provider jointly agree on the work programme for the project in advance of submitting an application. Companies may wish to use this option when they are no longer eligible for a standard voucher (may have used two or more standard vouchers) or where time to market is critical and the schedule for the standard call is not suitable. This voucher application can be submitted at any time and a response may be expected within four weeks.  Horizon 2020 Innovation Voucher (Pilot Call) Horizon 2020 is the EU Framework Programme for research and innovation in Europe which will provide funding of €79 billion for research and innovation and boost jobs and growth across the European Union and in Ireland over the period 2014 – 2020. The programme presents numerous opportunities for companies, large and small, to carry out innovative R&D and product development. This Innovation Voucher allows Small Enterprises to explore and apply for the Horizon 2020 opportunities with the assistance of a public sector Knowledge Provider. Please note that the process of claiming money from EI for the voucher may now be separated from how that money may be subsequently spent. DCU may incur actual non-pay costs in order to complete the Voucher work or all of the effort include on the claim may be PI time or other staff costs (per EI, at least 70% of the claimed costs should go towards paying for the skills and expertise of the knowledge provider). The subsequent spend on funds received (in addition to any actual expenditure incurred on the claim above) should then be incurred in accordance with the eligible expenditure list below. Claiming funds from EI  The original Innovation Voucher to be signed & dated by the company at Project Completion stage (back of the Innovation Voucher). The company confirms that the Project is satisfactorily completed.  An Invoice needs to be raised to the company for €5,000 plus 23% VAT (to the Subcost for your Innovation Voucher activity). The company are liable to pay the 23% VAT only. The buyer in your dept. will have access to raise a Sales Order on the Agresso system, this will automatically create a Sales Invoice.  The Voucher Redemption Form needs to be completed, signed and dated by the P.I.  All 3 documents (actual Innovation Voucher, Invoice & Voucher Redemption Form) all need to be sent to Sandra Kelly, Finance Office to submit to E.I. by email & post.  If no queries, E.I. will pay the €5,000 and this income will be allocated to the subcost against your Innovation Voucher activity. VAT monies received from the company is then paid over to Revenue by DCU in the quarterly return. Bi-annual Expenditure reports (new requirement)  1 Subcost code per PI (to include all IV’s), effective for all IV’s submitted from 1st June 2015  Transactions listing to be sent to EI twice a year by Finance, 1st March and 1st September  Only eligible costs allowed  Income to be spent within 2 financial years, building up of income not allowed Eligible Expenditure DCU list of eligible costs (not formally approved by EI)  research materials  travel costs within EU, where the destination, duration and activity is research based  stipends + fees  subsistence payments within EU to those who are on DCU payroll  research related membership fees & subscription  PC’s when necessary for research purposes (no tablets or phones)  employ a post-doc or research assistant to carry out work on IV or other short term research work (must be charged directly to subcost through staff request) If DCU is unsure of eligible expenditure EI will need to be contacted to confirm in advance. A full list of ineligible expenditure is attached – PLEASE REVIEW CAREFULLY IN ADVANCE OF ANY SPEND Useful Links  http://www.enterprise-ireland.com/en/Research-Innovation/Companies/Coll…  http://www.enterprise-ireland.com/en/Process/Higher-Education-Institute…  http://www.enterprise-ireland.com/en/Research-Innovation/Companies/Coll…