€500m Disruptive Technologies Innovation Fund
Government encourages Businesses & Research Partners to apply for €500m Disruptive Technologies Innovation Fund
- Ministers announce that expressions of interest are now invited from groups considering applying for the Fund.
- The fund is worth €20m in 2019, rising to €30m in 2020, €40m in 2021 and €90m in 2022, with successful applicants in the first round to be announced by the end of 2018.
- Ministers were speaking in Drogheda at the launch of a report on the role of the Department of Business, Enterprise and Innovation in delivering Project Ireland 2040.
Ministers within the Department of Business, Enterprise and Innovation today invited expressions of interest for the €500m Disruptive Technologies Innovation (DTI) Fund.
The DTI fund has been launched as part of Project 2040: Investing in Business, Enterprise and Innovation 2018 – 2027, which outlines the role of the Department of Business, Enterprise and Innovation in delivering Project Ireland 2040.
Minister Humphreys said: “This Fund is not about business as usual. We’re living in the technological revolution, and we’re looking for proposals for truly game-changing technologies. The world around us is changing and we can’t afford to stand still. The Fund is about ensuring that Ireland can stay ahead of the curve. We’re looking for ideas in areas like Robotics, Artificial Intelligence, Augmented and Virtual Reality, Advanced Manufacturing and Smart and Sustainable Food Production. We’re lucky in Ireland to have companies, both multinational and indigenous, that are doing very exciting things in technology. We also have top-class researchers so we want to see proposals that involve collaboration between industry, research bodies and the public sector.”
Today’s discussions also focused on regional investment, such as the €60m Regional Enterprise Development Fund, which backs initiatives that are led from the regions, and how businesses are responding to and preparing for Brexit. “The Government is focused on ensuring that the business sector is prepared and resilient to face the challenges of Brexit and that we sustain the important progress made in developing the island economy”, Minister Breen said. “In addition, the DTI Fund will ensure that Ireland continues to be a digital hotspot and that we stay at the forefront in exciting new areas such as Artificial Intelligence, advanced manufacturing and the bio-economy”, he added.
Details about the first call for the Disruptive Technologies Innovation Fund are now available on the website of the Department of Business, Enterprise and Innovation, and via its Agencies: Enterprise Ireland, IDA Ireland and Science Foundation Ireland.
The €500m Disruptive Technologies Innovation Fund
All interested businesses and research performing organisations should visit www.dbei.gov.ie/DTIF for information on the application process and full information on the Fund.
Projects must be collaborative in nature, involving a number of partners working together. There will also be a focus on projects that can be commercialised, meaning they can have a real impact on the jobs of the future.
SME participation in each collaboration is an essential requirement in order to receive funding from the DTIF.
Further reading on Project Ireland 2040- Investing in Business, Enterprise and Innovation
This article is an extract from the Department of Business, Enterprise and Innovation, please click here for the full article.