Second call for proposals under Regional Enterprise Development Fund

Minister Humphreys announces second call for proposals under €60 million Regional Enterprise Development Fund

The REDF is aimed at accelerating economic recovery in every part of the country by delivering on the potential of local and regional strengths. The funding is provided by the Department of Business, Enterprise and Innovation, through Enterprise Ireland under the National Development Plan. It is a key action to support the Regional Action Plan for Jobs and the Action Plan for Rural Development.
Funding of up to €60m is being made available over a period of four years to 2020 over two competitive calls for proposals.
The first call under the Fund was announced in May 2017, with the results released in December. Twenty-one applicants representing all regions of the country secured a total of up to €30.5m in financial support for a range of enterprise and capability development projects.

The Minister for Business, Enterprise and Innovation, Heather Humphreys TD, has announced that she will make a further €30 million available through a Second Call for Proposals under the Regional Enterprise Development Fund (REDF).


As announced at the recent launch of Project Ireland 2040, the Fund will now operate on a rolling basis through the National Development Plan. It is administered for Minister Humphreys’ Department by the State Agency, Enterprise Ireland.


The announcement was made by Minister Humphreys at Farmleigh House, Dublin where she met with the Chairpersons and representatives from the Regional Action Plan for Jobs Implementation Committees to discuss new priority initiatives for the Regional Action Plans over the period to 2020.
Minister Humphreys praised the significant contribution each Regional Committee has made to date, as well as their ongoing commitment to the Regional Action Plan for Jobs initiative.

 
Announcing the opening of the Second Call under the €60 million Regional Enterprise Development Fund, the Minister added: “In December, I was delighted to announce the award of €30.5m to 21 collaborative projects right across the country. Now that the Second Call is open, I look forward to seeing many more exciting, innovative initiatives to drive employment creation in our regions.


“Under this Fund, each region will secure a minimum of €2 million once projects meet the required standard. There is an opportunity here for regional stakeholders, both public and private sector, to work together and bring forward initiatives that build on each region’s unique strengths. This is all with a view to enhancing the enterprise and job creation potential in their region.”


CEO of Enterprise Ireland Julie Sinnamon noted “The Regional Enterprise Development Fund is an effective mechanism for supporting regional development and the regional business eco-system, helping to create and sustain jobs in the regions. The first call stimulated more than 75 applications, from which 21 regional projects were awarded competitive funding totaling €30.5 million, following a rigorous evaluation process. We anticipate a similar level of interest in this second call and look forward to working with regional stakeholders on more innovative proposals to build scale at regional level, which is a key priority for Enterprise Ireland. The call opens for applications on 16th April and closes on 28th June 2018.”


Web Link to EI Scheme Documentation: enterprise-ireland.com/en/Start-a-Business-in-Ireland/Information-Store-for-Start-ups/Regional-Enterprise-Development-Fund.html


Full article available on dbei.gov.ie, please click here.
Photographs to be distributed by Fennell Photography.