Simon Coveney (Cork South Central, Fine Gael)
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Balanced regional enterprise development continues to be a key priority for me and this Government as clearly reflected in the White Paper on Enterprise.

My Department contributes to this agenda in several ways, including through the development, implementation and oversight of nine Regional Enterprise Plans. Each of the Plans includes strategic objectives and actions designed to maximise the potential of enterprise hubs around the country.

Enterprise hubs are vital enterprise infrastructure in each region; they play an important role in supporting the enterprise ecosystem through the provision of accommodation and facilities, as well as offering supports to entrepreneurs, start-ups, microenterprises and SMEs. My Department has already provided over €200m in funding to support the establishment of some 270 enterprise hubs throughout the country through various regional enterprise funds.

The Deputy will be aware that I recently announced that my Department has secured €145m in funding for the Smart Regions Enterprise Innovation Scheme, co-funded under the European Regional Development Fund. This Scheme will support projects aligned to the Regional Enterprise Plans, including development of new enterprise hubs and centres and expansion of existing facilities. The first call of €35m is now open and there will be further calls in the coming years. Full information is available on Enterprise Ireland’s website.

The Deputy may also wish to note that my Department and the Department of Rural and Community Development are developing a National Hub Strategy, which will be based around the themes of enterprise, employment and non-commercial community activities.

Development of the enterprise theme is being led by my Department and will look at the current and future role enterprise hubs play in supporting start-ups and entrepreneurs as well as their sustainability.

The Strategy, due to be published in Q1 2024, will provide a strategic direction for the future of the national hub network and I expect it will include time-bound actions to ensure that the hub sector remains relevant, accessible and sustainable.