A new fund of €145 million was recently announced by Minister for Enterprise, Trade and Employment, Simon Coveney and Ministers Dara Calleary and Neale Richmond. The Smart Regions Enterprise Innovation Scheme is aimed at accelerating economic growth and sustainable job creation across all regions of the country.
The Scheme will be administered by Enterprise Ireland and is already open for applications. Co-funded by the Government and the European Regional Development Fund (ERDF), the funding will capitalise on existing regional enterprise partnerships and complement priorities set out in the nine Regional Enterprise Plans.
The overall objective of this Scheme is to drive job creation and enterprise development in each region throughout Ireland. In addition, Smart Regions funding will support the micro and SME client base in strategic regional locations by addressing deficits in key infrastructure. Successful projects will be collaborative in nature, innovative, financially viable, sustainable and will support existing regional infrastructure.
The first call for the Smart Regions Enterprise Innovation Scheme is open for applications and closes on 31 March 2024. Under a competitive process, applications are now sought for funding under four streams, with varying investment levels, up to €10m in:
1. Local infrastructure projects
2. Innovation clusters and consortia
3. Services to SMEs to drive Innovative Solutions
4. Feasibility & Priming Grants.
