Minister Simon Harris at Inspirefest 2018. Image: Conor McCabe Photography
Latest funding from DTIF, including three advanced manufacturing projects, brings total investment to date to €306m.
The Government has announced today (20 April) a total of €17.8m in funding for a further five projects under the Disruptive Technologies Innovation Fund (DTIF).
Approved under calls four and five of DTIF, a €500m fund managed by the Government with administrative support from Enterprise Ireland, the latest funding brings the total investment to date to €306m.
Of this, more than €173m, or 56pc, has been awarded to project partners outside of Dublin.
Two of these projects have received up to €9.6m in the third tranche of awards under call four, while three projects have been approved funding of up to €8.2m in call five. All five projects are led by an SME, who are collaborating with seven other enterprise partners and seven partners from research institutions.
“This latest investment will leverage a further €13m from the enterprise partners, bringing total private sector investment in the 91 projects funded to date to €176m,” said Minister for Enterprise, Trade and Employment, Simon Coveney, TD.
“It is noteworthy that over 88pc of this investment is by our indigenous SMEs, thereby making a significant contribution to closing the innovation gap with the higher R&D-performing foreign-owned multinational enterprises.”
Coveney said that the three call five projects are focused on advanced manufacturing, which he described as “crucial for every industrial ecosystem across Europe”.
“Such advanced industrial technologies help to sustain our economic resilience and competitiveness and will also facilitate the shift to a circular economy and a rapid decarbonisation of industry,” Coveney added.
In December, the Government announced that €13.3m was being shared by 11 partners involved in three disruptive projects, including two medtechs and one climate-focused company, under the second tranche of the fourth DTIF round.
Last month, it was announced that businesses and their partners applying for DTIF funding under call six will have to demonstrate that their project include a focus on “industrial research” and “experimental development”.
Leo Clancy, CEO of Enterprise Ireland, said the successful call five projects are using “both experimental development and industrial research” in their proposed innovations.
“This support will help our clients compete in rapidly changing global markets, helping them boost productivity, and will give them a significant competitive advantage in their sectors,” Clancy said.
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