Louise O'Reilly (Dublin Fingal, Sinn Fein)
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407. To ask the Minister for Enterprise, Trade and Employment if Enterprise Ireland has the capacity for analysing novelty in the technology space; and if it needs to develop a more holistic perspective to the tech sector. [48031/23]

Simon Coveney (Cork South Central, Fine Gael)
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Enterprise Ireland's Horizon Scanning Team conducts ongoing assessments to identify emerging trends, innovations and opportunities across the technology space, both nationally and across global markets. By doing so and by adopting a long-term timeframe, Enterprise Ireland is able to strategically advise it’s client companies on the research and development as well as on strategic business decisions required to capitalise on emerging and novel technology opportunities. Through its Horizon Scanning activities, Enterprise Ireland is able to extract and filter relevant data and information to construct ‘what next’ scenarios, helping to identify the important business and technology drivers for the organisation and for EI client companies.

Enterprise Ireland’s Horizon Scanning activities also enables the organisation to formulate strategic responses to emerging technology, for example, helping to inform the work priorities and investment decisions of the Research and Innovation Division, the Disruptive Technologies Innovation Fund (DTIF) and High Potential Start Up (HPSU) teams.

By leading the way in discovering and understanding the business transformation and emerging technologies trends for the future, Enterprise Ireland supports its clients with their innovation actions and helps them sustain, grow and scale their businesses. Enterprise Ireland has strong internal, national, and international technology industry relationships representing a combined expertise that provides it with unique insight into the technology space, helping to drive strategic decision making and support client companies to innovate and grow.

Louise O'Reilly (Dublin Fingal, Sinn Fein)
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408. To ask the Minister for Enterprise, Trade and Employment the appetite within his Department for the creation of a pilot funding stream for housing supply-related businesses, especially in the property technology/homes market technology space, such as a company (details supplied). [48032/23]

Neale Richmond (Dublin Rathdown, Fine Gael)
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Under the Housing for All plan, my Department is working to promote innovation and increased productivity in the residential construction sector, including the more widespread adoption of Modern Methods of Construction (MMC).

To promote research and development and disseminate the best and most relevant innovations to the players in the construction value-chain in Ireland, my Department with Enterprise Ireland has established a new Construction Technology Centre, Construct Innovate, with initial funding of €5m over 5 years. The Centre is a consortium hosted by University of Galway which also includes Trinity College Dublin, University College Dublin, University College Cork and the Irish Green Building Council.

Through the Built to Innovate programme, Enterprise Ireland is focused on driving productivity and innovation in housebuilding, including increased use of MMC, and has opened up lean and digital grants and funding for research and innovation projects to the domestic residential construction sector.

Enterprise Ireland engages with the property technology sub-sector, with a number of prop-tech companies on its books, as well as ‘construction services’ companies, many of which are start-ups. Enterprise Ireland offers a wide range of financial supports for start-ups, such as equity investment, development grants and non-financial supports such as capability building, engaging with clients in-market via its overseas offices, connecting founding teams with potential investors and with strategic partners, and identifying business opportunities for clients.

Regarding early-stage funding streams, there are several funds that may be accessed by property technology companies subject to eligibility. These include:

• The Pre-Seed Start Fund aims to accelerate the growth of early-stage start-up companies that have the capacity and ambition to succeed in global markets. Applicants can apply for €50,000 or €100,000 investment. Successful applicants will be supported by an Enterprise Ireland Development Advisor and can avail of a range of start-up supports from Enterprise Ireland such as a mentor from the Enterprise Ireland panel of mentors, access to Enterprise Ireland’s Market Research Centre and other services.
• High Potential Start-Up (HPSU) Funding is aimed at start-up businesses with the potential to develop an innovative product or service for sale on international markets and the potential to create 10 jobs and €1m in sales within 3 years of starting up. Funding supports from Enterprise Ireland are closely aligned to a company’s stage of development. Broadly, HPSU companies are viewed as being at feasibility stage, investor-ready stage, or growth stage.
• The Irish Government, through Enterprise Ireland, has made €175m available as part of the Seed and Venture Capital Scheme (2019-2024) that supports the funding requirements of early-stage innovative Irish companies with global ambition.
• The Irish Innovation Seed Fund (IISF) is a €90 million fund-of-funds, made up of a €30m investment from DETE, through Enterprise Ireland, which is matched by a €30m investment from the EIF, and a €30m co-investment from ISIF (Irish Strategic Investment Fund). As a fund-of-funds, the programme invests in other specialist fund managers who target high growth innovative companies based on disruptive intellectual property, who are at the early stages of external funding.
• The Halo Business Angel Network (HBAN) is the all-island umbrella group for business angel networks. It is focused on creating investor groups/syndicates across the island. This helps companies source monies from private investors.
• The Irish Strategic Investment Fund (ISIF) invests in funds, companies and projects which generate commercial returns and supports economic impact and employment in Ireland. Key areas of focus for ISIF are:
  • Housing and enabling investments
  • Climate
  • Food and Agri
  • Indigenous Companies