Simon Coveney (Cork South Central, Fine Gael)
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For an advanced economy like Ireland, innovation is the best way to generate sustainable, long-term productivity growth. Investment in research, development and innovation (RD&I) by companies and enterprises is critical to ensuring we have a strong competitive economy.

This underlines the importance of sustaining the ambitious RD&I investment programmes that my Department and its agencies are rolling out to deepen innovation capability across the enterprise sector, in particular the innovation performance of our SMEs.

The Enterprise White Paper aims to achieve a doubling of business expenditure on R&D (BERD) and a doubling of the number of High-Potential Start-Ups (HPSUs) from research. To maintain and build on Ireland as a strong innovator, core enterprise innovation initiatives for 2023-2024 will bolster in-house research, development and innovation activity, industry-academic collaboration, research commercialisation and deliver an increased number of spin-outs. Further investment commitments under the €500 million Disruptive Technologies Innovation Fund (DTIF), currently on its sixth call, will enable more Irish-based firms and research performing organisations to become leaders in research and deep-tech applications.

My Department has developed the National Smart Specialisation Strategy for Innovation 2022-2027 to ensure Ireland’s investments in RD&I are aligned with Ireland’s sectoral strengths and opportunities at national and regional level, and support the twin digital and green transition. The Strategy is underpinned by ERDF regional investment funding of just under €400 million under Programme Objective One – a Smarter Europe. This includes three Enterprise Ireland ERDF supported RD&I funding schemes supported by my Department with €15.6 million in funding made available for 2023: Knowledge Transfer Boost, the Technology Gateways programme and the Innovators’ Initiative.

The Enterprise Ireland RD&I programme budget was increased to €136 million for 2023. Up to €132 million will be spent by EI on RD&I activities such as direct firm level R&D Grants and Equity; collaborative measures such as Innovation Vouchers, Innovation Partnerships and commercialisation of research.

In addition, my Department is supporting the establishment of four new European Digital Innovation Hubs, with an allocation of €27 million until 2026. The hubs have been designated by the European Commission as part of a European wide network, to act as one-stop-shops for SMEs to strengthen their digital capabilities.

IDA Ireland partners with clients to support FDI investment in RD&I which underpins growth opportunities and enhances the reputation of Irish operations at corporate level, along with their ongoing resilience including sustaining high-paying jobs.