Willie O'Dea (Limerick City, Fianna Fail)
Link to this: Individually | In context

Question 158: To ask the Minister for Jobs, Enterprise and Innovation the level of funding available for the job expansion fund and the competitive start fund in 2011; if this has changed since budget 2012; if the conditions have changed since the budget; and if he will make a statement on the matter. [40489/11]

Richard Bruton (Dublin North Central, Fine Gael)
Link to this: Individually | In context

The objective of the Job Expansion Fund is to assist Enterprise Ireland client companies with significant growth potential achieve increased employment. A company can obtain grant support up to a maximum of €150,000 towards the recruitment of new employees. Under the Fund, commitments of €4.6m have been made for 2011. The Job Expansion Fund will continue along similar lines in 2012.

The Competitive Start Fund is focused on accelerating the growth of Lifesciences, Cleantech and Industrial start-up companies that have the capability to succeed in global markets. The Fund is designed to enable those companies reach their key commercial and technical milestones. The Fund is a competitive one with 4 calls for applications in 2011 and a further 4 calls planned for 2012. In 2011 €2.75m was available in equity support and €96,250 in mentor support. The full amount was approved with 55 companies supported. In 2012, at least an equivalent amount will be available in equity support and mentor support.

Willie O'Dea (Limerick City, Fianna Fail)
Link to this: Individually | In context

Question 159: To ask the Minister for Jobs, Enterprise and Innovation the amount of funding made available for capital grants in 2012; the amount available in 2011; if the conditions have changed since budget 2012; and if he will make a statement on the matter. [40493/11]

Richard Bruton (Dublin North Central, Fine Gael)
Link to this: Individually | In context

An amount of €514 million has been allocated to my Department in respect of capital grants for 2012. This amount compares with an allocation of €508 million for 2011 and represents an increase of €6 million year on year, which is in line with the Government's commitment to provide €1 billion in capital supports for enterprise over the next two years.

The increased capital budget will, in 2012, allow: · A 4% increase in the Enterprise Ireland capital budget · Maintenance of the IDA capital budget · Maintenance of the County Enterprise Boards' capital budget · A 10% increase in the number of high potential start-up Irish companies supported · €18million spend on Innovation Fund Ireland to further improve the Irish venture capital industry · New technology centres in Cloud, E-learning and Financial Services to be commenced · A 20% increase in the number of Innovation Partnerships · Delivery of the Partial Loan Guarantee Scheme and Micro Finance Loan Fund · Support for the SFI research community of over 3,000 researchers, including research teams working with over 500 industry partners · Maintenance of the Programme for Research in Third Level Institutions · Doubling the number of Technology Innovation Development Awards to 200