Written answers

Thursday, 11 July 2024

Department of Enterprise, Trade and Employment

Business Supports

Photo of Jim O'CallaghanJim O'Callaghan (Dublin Bay South, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

180. To ask the Minister for Enterprise, Trade and Employment the key measures and initiatives taken in relation to boosting enterprise innovation in indigenous businesses since July 2020; his assessment of the impact of these measures; and if he will make a statement on the matter. [30815/24]

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael)
Link to this: Individually | In context | Oireachtas source

189. To ask the Minister for Enterprise, Trade and Employment to indicate the extent to which smaller indigenous companies can avail of assistance by way of support for research and innovation with consequent improved job retention and creation prospects; the extent to which he sees such smaller companies being in a position to avail of such assistance in the current and following years; and if he will make a statement on the matter. [30841/24]

Photo of Peter BurkePeter Burke (Longford-Westmeath, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I propose to take Questions Nos. 180 and 189 together.

My Department, through Enterprise Ireland (EI), has been instrumental in fostering innovation among Irish companies. Enterprise Ireland’s strategy, and range of supports it offers underpins the robust environment for innovation, enabling Irish companies to grow and develop, and positioning Ireland as a world-leading location to start and scale a business.

The RD&I supports offered by EI include RD&I grants, equity and convertible loans to help companies develop internal research and innovation capabilities. Company collaboration with 3rd level sector on RD&I activity is strengthened through Innovation Vouchers and Partnerships, the Technology Gateway and Centres programmes and European Digital Innovation Hubs. The commercialisation of RD&I activity is also supported through the Commercialisation fund, Innovation offices via the KT Boost programme and incubator space at 3rd level.

Some key examples of schemes implemented since 2020 include:

  • Capital equipment calls, providing access to state-of-the-art equipment through Technology Centres and Technology Gateways, the most recent being the €16.5 million call announced in November 2023.
  • In 2023, 4 new European Digital Innovation Hubs were established which function as 'one-stop shops,' offering at low or no cost, technical expertise, innovation, and training services to SMEs.
  • In June 2023, the €47m ERDF co-funded Technology Gateway Programme was launched which offers innovation support and assistance to startups and SMEs.
  • In December 2023, the €33.4m ERDF co-funded KT Boost programme launched which will accelerate the development of innovation capabilities within Irish enterprises.
  • In February 2024, the €28m co-funded ERDF Innovator’s Initiative was launched, which comprises of 4 programmes in areas of Medtech, Agtech, Cyber and Digital Health. These training programmes will create cohorts of highly skilled innovators who can observe and identify unmet market needs.
  • A further recent measure to boost innovation in SMEs is the doubling the value of Innovation Vouchers which increased from €5,000 to €10,000 on 1 July this year.
These supports contribute to improved productivity, job retention, and creation prospects and companies availing of Enterprise Ireland’s research and innovation supports experience 4 times more export sales. An annual 2.5% increase in productivity per person employed has also been observed within companies that are active in undertaking research and development.

Smaller companies are well-positioned to avail of these supports in the current and following years. Enterprise Ireland will continue to foster growth, innovation, and job creation for indigenous businesses as it will remain central to the agency’s long term strategic priorities.

Comments

No comments

Log in or join to post a public comment.