Investing at scale will help businesses bridge the gap between their existing capabilities and the state of the art.
Ten projects from across the third-level sector have secured €12.1m in funding under the Capital Equipment Call.
Administered by Enterprise Ireland and IDA Ireland through the Technology Gateway and their joint Technology Centre Programmes, the funding will help companies level up.
“With an emphasis on sustainability, the new equipment will provide Irish companies with the means to dramatically improve their competitiveness whilst also positively contributing to Ireland’s action on climate change”
With individual awards of up to €2m available, the equipment funded through this Call will become an engine of economic development for local companies, in particular SMEs who could not afford to invest at this scale.
The sustainable future of manufacturing
The new equipment will particularly help companies develop new products and services in areas focusing on sustainability and manufacturing productivity.
“Innovation is essential for all companies to adapt and deliver novel products and services, making them more competitive in their respective markets,” said the Minister for Enterprise, Tourism and Employment, Peter Burke, TD.
“This funding will further add to our system of supports to our enterprise sector, with the new equipment being an important tool for companies on their growth and innovation journey.
“It will allow our research network to continue to provide cutting edge support to Irish enterprise across all sectors and all regions in Ireland, providing more quality jobs along the way.”
Since 2019, the Capital Equipment Fund administered by Enterprise Ireland has funded over 200 equipment purchases with a total value of €55m.
“The scale of this investment will have an extremely positive impact on companies in Ireland, in particular the SMEs,” said Marina Donohoe, divisional manager in charge of Research & Innovation at Enterprise Ireland.
“The cost of the equipment funded here is prohibitive to most SMEs so the provision of it in the Technology Gateways and Technology Centres means companies will have access to leading edge facilities that will in turn help to improve their technical capabilities and deliver world leading products and services.
“With an emphasis on sustainability, the new equipment will provide Irish companies with the means to dramatically improve their competitiveness whilst also positively contributing to Ireland’s action on climate change.”
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