Minister Halligan announces success for Incupharm DAC, Crystal Valley Tech CLG in the second round of the Regional Enterprise Development Fund in the South East

Incupharm DAC, Crystal Valley Tech CLG and National Design Innovation Hub DAC in the South East approved for funding totaling €2.8 million


Minister of State for Training, Skills, Innovation, Research and Development, John Halligan, TD announced today that three projects in the South East have been offered €2.8 million in funding as part of the second round of the Regional Enterprise Development Fund, an open national competitive call to support regional projects, delivered for the Government through Enterprise Ireland. Successful South East projects announced today include Incupharm DAC, Waterford - €799,212; Crystal Valley Tech CLG, - €219,919; National Design Innovation Hub DAC Carlow/Kilkenny - €1,843,320.

Incupcharm DAC will provide 11 laboratories for life sciences start-ups & for life science companies to conduct research in the South East. Incupharm will be connected to WorkLAB in the IDA Industrial Estate in Waterford providing access to a range of business supports and technical supports from Waterford Institute of Technology, based across the road, to help maximise the prospects of success for these companies.

Minister of State for Training, Skills, Innovation, Research and Development, John Halligan, TD said: "I am very pleased to note that there are a number of successful projects in the South East that have been approved funding today.
Incupharm in Waterford will provide bespoke laboratory space to support life sciences start-ups; in association with IT Carlow, a new Design Innovation Hub will be developed in Kilkenny for companies in all sectors who want to conceptualise, innovate and build new products and services; while the Crystal Valley tech cluster for the region will be supported to grow its activities. These projects together represent an investment by Government of over €2.8 million for the South East region under this second call.

Dr Niall O'Reilly, Manager, Pharmaceutical and Molecular Biotechnology Research Centre (PMBRC), WIT said: “On behalf of the Incupharm team I am delighted to welcome the news that funding has been offered for a life science incubator in the South East. The region has a strong pharmaceutical and medical device industry, with over 8,000 directly employed in the sector. The incubator will therefore play to regional strengths and will be connected to the wider business, research and innovation supports of the region and beyond. It is our vision to transform the South East into a lifescience innovation hub, particularly for indigenous start-up companies”.

Elaine Fennelly and Larry Breen, directors of the Crystal Valley Technology, the ICT cluster of the South East, welcomed the news of being offered funding from Enterprise Ireland’s Regional Enterprise Development Fund: “We have great companies, great people and huge international success stories here in the South East. This funding will help Crystal Valley Tech achieve its goal of making the South East the location of choice for ICT (Computing) companies and ICT professionals”.

Twenty-one successful applicants representing all regions of the country have secured just over €29m for their projects in the second call for proposals under the competitive Fund. Initially allocated €60m for two rounds of funding, the Fund will now operate on a rolling basis as part of Project Ireland 2040.
The winners were selected through a rigorous evaluation process based on criteria which included impacts and value for money, collaboration and participation, viability and sustainability, building regional strengths and significance for innovation.

Martin Corkery, Regional Director – South East, Enterprise Ireland said: “Supporting enterprises to build scale and expand reach is a key focus of Enterprise Ireland and the Regional Enterprise Development Fund helps us to further drive growth in key sectors in counties across the country, particularly in the context of Brexit. Our aim is to build on a strong regional ecosystem to include a variety of companies and sectoral clusters with best in class physical and digital infrastructure and appropriate research and technology capability.


Details of the Regional Enterprise Development Fund are on Enterprise Ireland’s website www.enterprise-ireland.com/REDF

 

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