Robert Troy (Longford-Westmeath, Fianna Fail)
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252. To ask the Minister for Enterprise, Trade and Employment when the new regional enterprise fund will be open to applications; and if criteria have been drawn up yet. [25928/23]

Neale Richmond (Dublin Rathdown, Fine Gael)
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The Deputy will be aware that my Department has secured up to €145m from the European Regional Development Fund to support innovative enterprise focused projects.

The Scheme, the ‘Smart Regional Enterprise Innovation Scheme’ (SREIS), will be aimed at accelerating economic growth in all regions of the country by delivering on the potential of local and regional enterprise strengths.

The SREIS will also build on initiatives previously funded under the Regional Enterprise Development Fund and Border Enterprise Development Fund and support new collaborative and innovative regional projects. This activity will align with the outcomes of the nine Regional Enterprise Plans and Ireland’s Smart Specialisation Strategy around digitalisation and green transformation goals for industry.

Enterprise Ireland, who will administer the Scheme, are finalising the Scheme document and eligibility criteria of the SREIS with the European Commission and the final Scheme will be approved by the Department of Public Expenditure, NDP Delivery & Reform. I expect to announce the first call of €35 million under this fund shortly with further calls on an annual basis.