Enterprise minister Leo Varadkar has announced the 183 successful applicants approved for funding through the Covid-19 Online Retail Scheme.

Under this competitive call, the successful applicants will receive funding ranging from €16,000 to €40,000 to strengthen their online offering. The average grant value is €35,500. Enterprise Ireland said it will be opening a second Call under the Covid-19 Online Retail Scheme in the coming weeks.

Enterprise Ireland has selected 183 retailers to share €6.5m in funding, which is targeted at online retailers to strengthen their online offering and enable them to reach a wider customer base.

Funding for the scheme, which received 373 applications, was increased from €2m to €6.5m due to the high level of demand amongst retailers and the high quality of the proposals received.

The scheme helps Irish-owned retailers to strategically enhance their online sales capabilities, so they can be more competitive, sustain jobs and subsequently scale their businesses in international markets.

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Varadkar (pictured) commented: “Competition is no longer local. If our businesses want to be competitive today and in the longer term, we need to see more Irish retailers fully embrace the digital opportunity.”

Enterprise Ireland CEO Julie Sinnamon added: “Many of our smaller retailers are selling quality, in-demand products and services that appeal to international customers and they are now taking the opportunity to further invest in their digital presence and to compete on a global basis.

“I would encourage any eligible retail enterprises that have not applied or have not been successful in this call to apply for funding in the next call for applications, details of which will be published shortly.”

Applicant companies for the scheme must be an Irish-owned retail enterprise that had 10 or more employees on or before 29 February 2020 and has the potential to sustain or create jobs, generate growth in online transactions and with an ambition to internationalise their business in future.

The business must also have an existing online presence (e.g. website or social media), and have a retail outlet and derive the majority of revenue from the retail outlet(s).

Photo: Leo Varadkar and Julie Sinnamon with (l-r) Best Menswear’s David Jones, EI’s Stephen Hughes, and Best MD John Smith. (Pix: Maxwells)

Approved Companies under
Covid-19 Online Retail Scheme