Tech Companies Urged to Apply for Disruptive Technologies Innovation Fund
Applying for Funding as a Tech Company
The Irish government has urged players in technological fields to compete for a new share of funding that has been called the “Disruptive Technologies Innovation Fund,” worth €500 million. This announcement was made at the launch of the Project Ireland 2040: Investing in Business, Enterprise and Innovation 2018-2027 report at a forum at the Mill Enterprise Centre.
Fostering Commercial Innovation
The establishment of the new fund will foster commercial innovation by encouraging collaboration between public research and private industry. This will in turn help in the creation of new markets and increase competition in the enterprise sector. Heather Humphreys, the minister for Business, Enterprise and Innovation in Ireland stated that the country and the world at large is living in a technological revolution. This calls for game-changing technologies and Ireland needs to innovate to keep up. Humphreys further added that the country was lucky to have firms that have engaged in areas of innovation such as robotics, artificial intelligence, augmented and virtual reality, advanced manufacturing, and smart and sustainable food production.
Requirements for Funding…
To apply for funding, businesses and research institutions must be working on collaborative, enterprise-driven projects to develop, deploy and commercialise disrupting technologies to transform business. The research that will be conducted by both the private and public sectors will develop technology solutions for the future in areas like healthcare, agriculture and energy. The Disruptive Technologies Innovation Fund complements the Regional Enterprise Development Fund that is intended to support regional initiatives. In addition to the R&D tax credit, Ireland’s public and private sectors are well placed to benefit from research & development in collaborative projects.
Find details here. Submissions close at 3pm on 17 August 2018.