€500m Research & Development Scheme Open

As we launch this scheme I would like to encourage companies of all sizes and from all sectors to use this opportunity to check if they are geared up for the challenges of the future, and to examine if they can qualify for Government support for R&D projects.

Micheál Martin, TD, Minister for Enterprise, Trade and Employment

24/01/2008

IDA
Statement by the Minister for Enterprise, Trade and Employment, Micheál Martin, TD

Minister for Enterprise, Trade and Employment, Micheál Martin, TD, has today (24th January 2008) launched a revised and simplified Research and Development Grant Scheme which will make €500m available to companies across all sectors.

The new scheme will see job creation agencies, Enterprise Ireland and IDA Ireland, invest more than €500m which will be used to support R&D and continue to secure jobs in all parts of the country.
The funding will be made available over the remainder of the Government's Strategy for Science, Technology and Innovation (2008-2013).

Announcing the Scheme Minister Martin said: "This Government investment of over €500 million will ensure that Irish companies remain at the cutting edge of research and development into the future, and that we have an innovative economy which will continue delivering jobs for our people."

"In line with Government policy to cut red tape for business the new grant scheme will also be streamlined to make the application process as straight-forward as possible for companies".

"Ireland has developed a reputation as being a top location for ground breaking research. Company-to-company collaborations and partnerships between our third level institutions and companies are at the core of this. Projects already underway are researching how to combat disease, improve communication technology and develop products of the future."

"This approach to producing high-quality R&D ensures that Ireland remains a base for high tech quality jobs in the years ahead. I am delighted that our new scheme encourages R&D collaboration between companies, particularly amongst small businesses."

"As we launch this scheme I would like to encourage companies of all sizes and from all sectors to use this opportunity to check if they are geared up for the challenges of the future, and to examine if they can qualify for Government support for R&D projects."

"I want to take this opportunity to acknowledge and congratulate both Enterprise Ireland and IDA Ireland for the work they have put into this scheme," concluded the Minister.

Outlining elements of the fund that are designed specifically to support Irish companies, Feargal Ó Móráin Executive Director of Enterprise Ireland said; “Enterprise Ireland is here to help companies in the services and manufacturing sectors get the best funding available for their R&D project. Companies don’t need to have any prior R&D experience to apply, they just need to have the will to explore what R&D can do for their profit margins”.

Irish companies can apply for funding through Enterprise Ireland by either contacting their appointed Development Adviser or downloading the application form and guidelines at http://www.enterprise-ireland.com/ResearchInnovate/R+and+D+in+your+Enterprise/RandDFunding.htm

Enda Connolly, IDA Ireland’s Divisional Manager - Research, Skills & Innovation, welcomed today’s announcement and placed it in its wider context “R&D is a vital component of Ireland’s future economic growth which will be driven in part by the transformation of our multinational company base from a production focus to being innovation led”. He added “In the last five years IDA client companies have invested €1.31bn in new Research & Development activities and our strong conviction is the revisions announced today will enable incremental research by our existing clients valued in excess of €2bn over the coming five years”.

Multinational companies based in Ireland can apply for R&D funding through IDA Ireland by contacting their assigned Project Executive. 

The revised R&D grant scheme will facilitate more companies to undertake R&D activity, catering for R&D novices right up to R&D leaders.

Some notable features of the revised R&D grant scheme include:

• A straight-forward application process,
• Clear progression in support from R&D novices right up to R&D experts,
• New R&D investigation and stimulation phase,
• No more repayable grants - abolished,
• Funding open to services companies,
• Collaboration with other companies / third level institutions actively encouraged and funded
• Special focus on SME’s with increased funding rates and more flexibility

For further information please contact:
Department of Enterprise, Trade and Employment - Press Office Tel: 01- 6312200

Jerry O'Connor, Press Advisor, Department of Enterprise, Trade and Employment
087 6630338

Enterprise Ireland Press Office: 01 8082000

IDA Press Office: 01 6034000