€29 Million in Government Funding Through the Regional Enterprise Development Fund
The Government has announced the results of the second round of the Regional Enterprise Development Fund, an open national competitive call to support regional projects, delivered for the Government through Enterprise Ireland. Twenty-one successful applicants representing all regions of the country have secured just over €29 million for their projects in the second call for proposals under the competitive Fund. Initially allocated €60 million for two rounds of funding, the Fund will now operate on a rolling basis as part of Project Ireland 2040.
Announcing the successful applicants of the second round Minister for Business, Enterprise and Innovation Heather Humphreys TD said: “The Irish economy has had a remarkable turnaround in recent years, but we cannot become complacent. Although we have made a lot of progress with three out of five jobs created outside Dublin since we launched the Regional Action Plan for Jobs, some parts of the country are not recovering as quickly as others.
“The Regional Enterprise Development Fund is about supporting every region to build on its unique strengths and ultimately create sustainable jobs. Collaboration is at its core – among the public and private sectors, within and across regions. The projects we are funding are at the cutting edge of innovation. I am confident that they have the potential to make a real and lasting impact on enterprise development at both regional and national level.”
Twenty-one successful applicants are approved the offer of funding totaling just over €29 million. The winners were selected through a rigorous evaluation process based on criteria which included impacts and value for money, collaboration and participation, viability and sustainability, building regional strengths and significance for innovation.
Successful projects announced at today’s event in the Meath Enterprise Centre include:
- The Boyne Valley Food Innovation District DAC, Meath – €1,580,640
- Bioconnect Innovation Centre CLG, Monaghan – €4,976,880
- Galway City Innovation District CLG – €2,487,400
- Innovate Limerick T/A Hospital Foods DAC – €2,279,073
- Ludgate Operations CLG, Cork – €1,990,392
- National Design Innovation Hub DAC Carlow/Kilkenny – €1,843,320
- Clare MEZ (Maritime Economic Zone) DAC – €1,759,226
Download detailed list of all 21 successful projects announced
Julie Sinnamon, CEO, Enterprise Ireland said: “Supporting enterprises to build scale and expand reach is a key focus of Enterprise Ireland and the Regional Enterprise Development Fund helps us to further drive growth in key sectors in counties across the country, particularly in the context of Brexit. This second call which was launched in May attracted very strong interest, receiving a total of 77 applications. The successful applicants represent a broad range of projects across a variety of sectors including food, agri-tech and lifesciences. Our aim is to build on a strong regional ecosystem to include a variety of companies and sectoral clusters with best in class physical and digital infrastructure and appropriate research and technology capability.
“The Boyne Valley Innovation District based here in County Meath is one of the companies which has received an offer of funding and I would like to congratulate them on their successful application and look forward to seeing the difference this funding will make on the ground as they set about developing the initiative.”
Gary O’Meara, Managing Director, Boyne Valley Food Innovation District, said: “The Boyne Valley Food Innovation District has the potential to become a leading food cluster that helps Irish indigenous food companies to build capacity and value so that they can scale into global markets. We are delighted that Phase 1 of this exciting project ‘The Boyne Valley Food Hub’ has been funded under REDF and we look forward to working closely with Meath County Council, Enterprise Ireland, Bord Bia and all our other partners to establish the Boyne Valley and the wider region as a world class destination for scaling food companies.”
The announcement follows the award of €30.5 million in financial support to 21 applicants for a range of enterprise and capability development projects during the first call, released in December 2017. The awardees of the Second Call announced by the Minister today will fund projects with the remaining balance of the €60m under the REDF.
Details of the Regional Enterprise Development Fund are on Enterprise Ireland’s website www.enterprise-ireland.com/REDF
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Pictured (L-R): Minister Damien English TD; Minister Heather Humphreys TD; John Cunningham, CEO, Epicom; Gary O’Meara, CEO, Meath Enterprise; and Julie Sinnamon, CEO, Enterprise Ireland.
