Regional Enterprise Development Fund Open for Applications

29 May 2017 

Regional Enterprise Development Fund Open for Applications

Competitive Fund EI Launch

Minister for Jobs, Enterprise and Innovation Mary Mitchell O’Connor TD and Minister of State for Employment and Small Business Pat Breen TD today (29th May, 2017) launched a new Regional Enterprise Development Fund of up to €60m.

This competitive funding has been provided by the Department of Jobs, through Enterprise Ireland and is a key action to support the Regional Action Plan for Jobs and the Action Plan for Rural Development. The Fund is aimed at accelerating economic recovery in every part of the country bydelivering on the potential of local and regional enterprise strengths. The Fund will support significant collaborative regional initiatives to build on specific industry sectoral strengths and improve enterprise capability, thereby driving job creation.

Under a competitive process, Enterprise Ireland is now seeking applications for funding under four streams with varying investment levels:

  1. Major Change Projects - €2m up to €5m per project,
  2. Regionally Significant Projects - €250,000 up to €2m per project,
  3. Local & Community Enterprise Development  Projects - €50,000 up to €250,000 per project,
  4. Industry Clusters - €50,000 up to €250,000 per project.

Competitive feasibility funding to support the development of high quality regional projects is also available as part of this initiative.

Launching the Fund, Jobs Minister Mary Mitchell O’Connor said, “The Regional Action Plans aim to ensure that regional Ireland gets its fair share of economic growth and investment. I want to see collaborative projects that will boost the regions by supporting enterprise and creating jobs. Through this fund, I am delighted to be backing local stakeholders to drive their own futures by putting forward their own innovative proposals to deliver sustainable employment.”

Also speaking at the launch, Minister of State for Employment and Small Business Pat Breen TD said, “Unlocking opportunity in regional Ireland is essential to underpin the future performance of our indigenous companies who are making a huge contribution to the recovery. We know that a one-size-fits-all approach to developing regions won’t work. We want to invest in the unique strengths of each region in the drive to maximise employment and value add to the Irish economy.”

Commenting on the Fund, Minister of State for Skills and Training John Halligan TD said, “This Fund will help to ensure the benefits of our growing economy are felt in every region. Harnessing the talent of people in the regions, linking enterprises to the third level sector, keeping entrepreneurs connected, supporting innovation, and putting in place various development programmes for our companies is something we must keep working on.”

CEO of Enterprise Ireland Julie Sinnamon said, “Supporting Enterprise development is a key role of Enterprise Ireland. This fund will provide an important infrastructural mechanism to drive growth in developing enterprise in every region. The fund will also support the development of industry clusters which will facilitate knowledge transfer, innovation and collaboration among organisations. These are important drivers of enterprise growth and job creation, and we look forward to supporting more regionally-based companies through this initiative.”

The Regional Action Plans for Jobs seek to build on the strengths and opportunities in each region and to build a regional ecosystem including a diversity of companies and sectors, sectoral clusters, a spirit of innovation and collaboration, a good physical and digital infrastructure and appropriate research and technology capability.

Details of the competitive process are available on Enterprise Ireland’s website www.enterprise-ireland.com/REDF.

Key Dates · The first call is currently open with an application deadline of Fri 18th August, 2017 at 3.00pm. The second call will open on 8th January, 2018 and close 2nd March, 2018 at 3.00pm. Feasibility Study Grant applications of up to €22,500 have an application deadline of Fri 9th June, 2017 at 3.00pm. Further details on this fund are available on the Enterprise Ireland website www.enterprise-ireland.com/REDF

Information Briefings Enterprise Ireland is arranging a series of information session on the Regional Enterprise Development Fund for interested applicants in each region. Details are:

Region                        Location                                   Date                Time

South East      Springhill Court, Kilkenny                     8th June         11.30 for 12.00

South West     Oriel House Hotel, Ballincollig, Cork   8th Jun            16.30 for 17.00

Mid-West        The Strand Hotel, Limerick                  22nd June       08.00 for 08.30

North West     Clayton Hotel, Sligo                             22nd June       13.30 for 14.00

Midlands        Tullamore Court Hotel, Tullamore        23rd June        10.30 for 11.00

Mid-East        The Glenroyal Hotel,  Maynooth          26th June         10.30 for 11.00

Dublin             The Red Cow Hotel, Dublin                6th July             13.30 for 14.00

North-East      Dundalk/Cavan                                    tbc

West               Ard Ri House Hotel, Tuam, Co. Galway  29th June    18.30 for 19.00

If you cannot attend the briefing session in your own region, you have the opportunity to attend another regional briefing instead.

For further information please link here for the relevant contact details.

ENDS