Richard O'Donoghue (Limerick County, Independent)
Link to this: Individually | In context | Oireachtas source

311. To ask the Minister for Enterprise, Trade and Employment the amount of the disruptive technologies innovation fund that has been drawn down; and if he will make a statement on the matter. [23170/23]

Simon Coveney (Cork South Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

The Government established the Disruptive Technologies Innovation Fund (DTIF) in 2018 as one of four National Development Plan (NDP) 2018-2027 Funds under Project Ireland 2040. DTIF aims to encourage collaboration and innovation in developing and deploying disruptive technologies commercially to tackle national and global challenges. The Fund is managed by the Department and administered by Enterprise Ireland.

In total, 91 successful projects have been allocated €306 million under the first five DTIF Calls. Under the terms of the Fund, the approved projects have three years for completion (some Call 1 and Call 2 projects have been extended beyond the 3 years due to the impact of Covid-19) and partners may claim their eligible costs over that period, usually at 12-monthly intervals. These costs are assessed by Enterprise Ireland against project deliverables before payment. To end April 2023, Enterprise Ireland has drawn down a total of €95 million from the Department to cover the cost of claims made by the project partners.