Shannon Coil Springs reaches new international markets with European funding support from TUS through FactoryXChange 2.0
Shannon Coil Springs, a family-owned manufacturer in Limerick, secured European cascade funding to explore new international markets with support from the Technological University of the Shannon (TUS) and FactoryXChange 2.0 (FXC 2.0). Through the Funding and Grant Strategy service, experts at the IDEAM Research Institute at TUS helped the company find the right funding call, prepare its application and plan its expansion into the Middle East. The project gave Shannon Coil Springs direct access to a new market, without placing the full financial burden on the business.
At a glance:
Client: Shannon Coil Springs, a family-owned manufacturer based in Limerick
Service partner: TUS and the IDEAM Research Institute, through FactoryXChange 2.0
Service: Funding and Grant Strategy
Outcome: European cascade funding secured to explore markets in the Middle East, including taking part in Big 5 Construct in Riyadh
What challenge was Shannon Coil Springs facing?
Shannon Coil Springs makes fine wire components for medical device, aerospace and specialist industrial customers, and was ready to grow beyond Ireland and Europe by bringing its current products to new international markets. Exploring a new region takes time, research and investment, which is definitely challenging for a small business to take on. The team needed a clear plan and a way to fund the first steps.
How did TUS help Shannon Coil Springs?
TUS, the IDEAM Research Institute and FactoryXChange 2.0 helped Shannon Coil Springs assess potential target markets, identify areas for growth and develop a clearer path for international expansion. The TUS team also supported the company in applying for European cascade funding, which allowed it to investigate markets in the Middle East.
As part of the project, Shannon Coil Springs took part in Big 5 Construct in Riyadh, where it showcased its products to a global audience, gathered market intelligence and connected with potential customers and partners.
“The European cascade funding was important because it gave us an opportunity to investigate new markets in the Middle East without placing the full financial burden on the business.”
Ivan Gannon, Head of Operations at Shannon Coil Springs.
What does the Funding and Grant Strategy service include?
The Funding and Grant Strategy service helps SMEs find suitable funding opportunities and supports them through the full application process. Many SMEs are experts at what they make, but have limited time or resources to write funding applications. The TUS team, which includes experts in grant writing, fills in the application form, asks the business for the product knowledge it needs, then works with the company to fine-tune the application before submitting it.
“A lot of small and medium enterprises that apply for these European cascade funded calls are not successful, primarily because they’re not matching their products with the right call.”
Dr David Downey, Education and Outreach Manager at IDEAM Industry Cluster, and FXC Digital Strategist.
What were the results for Shannon Coil Springs?What were the results for Shannon Coil Springs?
The project gave Shannon Coil Springs direct access to a new international market and connections with potential customers and partners. The biggest benefit, according to the company, was access to expertise it didn’t have in-house, combined with the opportunity to take part in Big 5 Construct. The event also generated new commercial opportunities for the business.
“Our experience was extremely positive, and the support we received helped us pursue opportunities that we may not have had the knowledge, resources or confidence to pursue on our own."
Ivan Gannon, Head of Operations at Shannon Coil Springs.
How can my business access the Funding and Grant Strategy service?
Feeling inspired by Shannon Coil Springs’ story? Book a free 30-minute call with one of our Digital Strategists to start your digital transformation journey. To get started, register on the FactoryXChange 2.0 website, and a Digital Strategist will get in touch to understand your needs and help you choose a suitable funded service. You can read more about each step on our How It Works page.
Frequently asked questions
What is European cascade funding?
European cascade funding is money from EU-funded projects that is passed on to SMEs and other organisations through open calls. It usually supports specific activities, such as testing a new technology or exploring a new market. Calls often have clear themes and eligibility rules, so matching a business with the right call is an important first step.
Why are some SME funding applications unsuccessful?
A common reason is that the business applies to a call that doesn’t match its products or goals. Applications also take time and specialist knowledge to write well, which many SMEs don’t have in-house. The TUS team helps businesses find the right call and build a strong application.
Do I need experience writing funding applications to use this service?
No experience is needed. The TUS team fills in the application form and asks the business for the product knowledge it needs. The two then work together to fine-tune the application before it’s submitted.
What is FactoryXChange 2.0?
FactoryXChange 2.0 is a European Digital Innovation Hub (EDIH) that helps Irish SMEs adopt digital technologies through funded services, expert guidance and a national network of partners. It is led by Irish Manufacturing Research (IMR) and supported by the European Commission and Enterprise Ireland. You can find answers to more common questions on our FAQ page.
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