More than 20 companies to share in regional funding of over €29m

The fund will operate on a rolling basis as part of Project Ireland 2040

More than 20 companies to share in regional funding of over €29m

Image via @HHumphreysFG on Twitter

The results of a regional enterprise fund of more than €29m have been announced.

The Regional Enterprise Development Fund , which is administered for the Government by Enterprise Ireland, will operate on a rolling basis as part of Project Ireland 2040.

In total, 21 projects received funding under this second round.

These include the Boyne Valley Food Innovation District DAC, Meath (€1,580,640), Bioconnect Innovation Centre CLG, Monaghan (€4,976,880), Galway City Innovation District CLG (€2,487,400), Innovate Limerick T/A Hospital Foods DAC (€2,279,073) and Ludgate Operations CLG, Cork (€1,990,392).

Announcing the successful applicants at Meath Enterprise Centre in Navan, Business Minister Heather Humphreys said: "The Irish economy has had a remarkable turnaround in recent years, but we cannot become complacent.

"Although we have made a lot of progress with three out of five jobs created outside Dublin since we launched the Regional Action Plan for Jobs, some parts of the country are not recovering as quickly as others.

"The Regional Enterprise Development Fund is about supporting every region to build on its unique strengths and ultimately create sustainable jobs.

"Collaboration is at its core - among the public and private sectors, within and across regions.

"The projects we are funding today are at the cutting edge of innovation. I am confident that they have the potential to make a real and lasting impact on enterprise development at both regional and national level."

Julie Sinnamon, CEO of Enterprise Ireland, added: "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.

"This second call which was launched in May attracted very strong interest, receiving a total of 77 applications.

"The successful applicants represent a broad range of projects across a variety of sectors including food, agri-tech and lifesciences.

"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."

This announcement follows the award of €30.5m in financial support to 21 applicants for a range of projects during the first call, released in December 2017.

Full details are available here