Joe Carey (Clare, Fine Gael)
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Question 48: To ask the Tánaiste and Minister for Enterprise, Trade and Employment if she will reconcile references in the 2006 bilateral agreement on an all-island economy (details supplied) with the differences between packages offered to investors by Enterprise Ireland and Invest NI; if she will address same; and if she will make a statement on the matter. [27530/09]

Mary Coughlan (Donegal South West, Fianna Fail)
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The 2006 Comprehensive Study on the All-Island Economy sets out the economic rationale for North/South collaboration as well as making concrete proposals for economic initiatives. The case for an all island approach is made where market failure arises from the existence of the border or where public goods and services could be more efficiently produced on a co-ordinated basis.

In the matter of enterprise, the Study identified a number of areas where co-ordinated policy intervention could prove beneficial including co-operation on trade and investment promotion, enhanced co-operation in support of enterprise and business development and improved regulatory environment.

The clients of Enterprise Ireland and Invest Northern Ireland are faced with similar challenges wherever their location on the island and, in many instances, both agencies offer largely parallel solutions to their clients where such an approach is appropriate. The Irish Government and the Northern Ireland Executive are working together to ensure that the potential for development is exploited and that the challenges are met. In keeping with this goal, Enterprise Ireland's approach is to work in partnership with Invest NI and InterTradeIreland in an effort to maximise the benefits to all their clients.

In so far as Enterprise Ireland is concerned, financial support is tailored to the requirements of individual companies (i.e. the business plan) on the basis of clearly demonstrated need and value for money. The funding EI provides is in the form of both direct grants to companies, and equity provision, typically depending on the stage of company development (i.e. early stage start-ups or established companies) in line with the risk profiles and development objectives involved. EI offers grant aid through two major funds, namely the Growth and R&D Funds, along with a wide range of smaller grants available for exploring new opportunities. These supports target company development in areas such as management development and leadership, capital acquisition, research and development, market support, innovation and production capability.

Furthermore, the State, through Enterprise Ireland has invested significant resources in developing the Seed and Venture Capital market in Ireland as a valuable source of capital for early and expansion stage companies, while also promoting other avenues of finance such as the Business Angel networks in conjunction with InterTradeIreland, and certifying client companies for Business Expansion Scheme investments.

Enterprise Ireland's grant aid offer must comply with the stipulations of the European Commission with regard to State Aid. Grants for industry are one instrument which can be used in order to develop enterprise and Enterprise Ireland's broad view is that the differential aid rates allowed in the BMW Region have been of benefit not solely with regard to the rate of start-ups but in terms of the development of existing companies.

Non-financial supports are available for all EI supported projects. These include access to the Enterprise Ireland overseas office network for marketing/market research, technical/technology and training advice, knowledge events and seminars.