Tánaiste Announces Funding for Enterprise Centres - €264,692 awarded to Waterford facilities

Three Waterford Enterprise Centres have been awarded a total of €264,692 as  Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD, announced grants for 95 Enterprise Centres around the country under Enterprise Ireland’s Powering the Regions - Enterprise Centres Fund. ArcLabs Research and Innovation Centre in WIT was awarded €119,830 while two community enterprise centres, Waterford City Enterprise Centre and Dungarvan Enterprise Centre were awarded €80,503 and €64,369 respectively.

Enterprise Centres are embedded in communities in every county in the country. They provide space and training for entrepreneurs, allowing them to work remotely, access training and advice, and network with other business leaders.

This funding will be crucial as the Centres continue to offer services to local businesses during what is an exceptionally difficult time. It will help the Centres implement a recovery plan for businesses within their remit over the next six to twelve months.

Tánaiste Leo Varadkar said: “I am really pleased to make this funding available through my Department. It will help enterprise centres all over the country to modernise their facilities protecting the health and safety of people who work there and helping to secure much needed jobs.”

Julie Sinnamon, CEO, Enterprise Ireland added: “Over the past 20 years, Enterprise Centres have provided important infrastructure for entrepreneurs and are an essential part of the start-up ecosystem across Ireland. The Centres, many of which are regionally based, provide space, connectivity, mentoring and support to start-up founders and teams, helping them to scale internationally.

“The funding announced today through Enterprise Ireland will ensure that the Enterprise Centres, many of whom have been negatively impacted by Covid-19, can sustain their businesses, pivot and further develop their services to support the next wave of Irish start-up companies.”

Richie Walsh, Head of Enterprise with Waterford’s Local Enterprise Office commented: “This funding will prove an invaluable contribution to these Waterford facilities not alone recovering from Covid-related difficulties but also re-establishing themselves as a core component of Waterford’s business start-up and entrepreneurial environment. They have proven to be great breeding grounds for the development of new businesses and ideas and will now be able to sustain that impact in the years ahead”

Eligible enterprise centres could apply for funding of a minimum of €10,000 and up to a maximum of €150,000. Funding will be administered in the form of grant aid of up to 80 per cent of eligible costs detailed in the Recovery Plan submitted by each applicant.