Wednesday, 18 December 2019
Department of Jobs, Enterprise and Innovation
Project Ireland 2040 Expenditure
229. To ask the Minister for Jobs, Enterprise and Innovation the annual profile of expenditure of the Project Ireland 2040 disruptive technology fund from 2018 to its closure; and if she will make a statement on the matter. [53730/19]
The Disruptive Technologies Innovation Fund (DTIF) is a €500 million fund established under Project Ireland 2040, which extends from 2018 to 2027. The DTIF also forms a key part of Future Jobs Ireland and supports in particular the delivery of Pillar 1, embracing innovation and technological change. It is available for collaborative projects seeking investment in the development and deployment of disruptive innovative technologies and applications, on a commercial basis, targeted at tackling national and global challenges.
While the fund was launched in 2018, the successful projects under Call 1 were announced in December of that year with payments due to fall in 2019 and subsequent years. Accordingly, the Government committed an initial tranche of €180m over the first four years, with funding to be allocated each year from 2019 to 2022, as follows:
As each project funded is a multi-year project of up to 3 years, the capital allocated to projects to date is reflective of this. A total of €140m has been allocated to 43 projects under Call 1 (27 projects with a commitment of €75 million) and Call 2 (16 projects with a commitment of €65 million).
The DTIF allocations for the years 2023 to 2027 have yet to be determined.