South-east benefits in Regional Economic Development Fund

Details were announced last week

Kilkenny People

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Kilkenny People

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sam.matthews@kilkennypeople.ie

South East Action Plan for Jobs

Three projects will strengthen pre-existing sectoral strengths in the region,

The South East Action Plan for Jobs has welcomed the approval of significant investment in three projects in the south-east region under Enterprise Ireland’s Regional Economic Development Fund (REDF).

Minister for Business, Enterprise and Innovation, Heather Humphreys last week announced the results of the first round of the new €60 million competitive Regional Enterprise Development Fund, up to €9 million of which will come into the region. 

Chairman of the South East Action Plan for Jobs Frank O’ Regan said the funding was testament to the good work being carried out in the region, the increased collaboration between stakeholders, and the high levels of innovation activity.

“These three projects will strengthen pre-existing sectoral strengths in the region, create the potential for competitive advantage, and deliver job creation and employment,” Mr O’Regan said.

“A second call will take place in March, 2018, and the south-east region looks forward to submitting more projects at this time.”

The Fund, which is an open national competitive call to support regional projects, is provided by the Department of Business, Enterprise and Innovation, through Enterprise Ireland and is a key action to support the Regional Action Plan for Jobs and the Action Plan for Rural Development. One Stream 1 major change project of €2 million up to €5 million has been approved in the region along with two Stream 2 regionally significant projects up to €2 million subject to grant conditions.

The Stream 1 project is: The Irish Bioeconomy Foundation application is for the development of a state-of-the-art National Bioeconomy Innovation & Piloting Facility encompassing flexible, modular, pilot-scale multi-purpose chemical and biological infrastructure.

This project was submitted under the auspices of the Mid West Action Plan for Jobs and is proposed to be based in the Lisheen Mines area of Tipperary. The Irish Bioeconomy Foundation is a not-for-profit organisation set up in 2016 by Tipperary County Council, Commercial Mushroom Producers, Glanbia, University College Dublin, Trinity College Dublin, and Limerick Institute of Technology.

The Stream 2 projects are: 1. Three-D based in the Waterford Institute of Technology (WIT), will create a 3D Manufacturing facility in the South East that will provide advanced manufacturing training to industry employees; Additive manufacturing exposure to undergraduate students; develop standards for additive manufacturing; and provide product development support.

2. INC (InsurTech Network Centre) is a sector specific enterprise development centre that will provide business development services to support the creation and commercialisation of technology solutions to the global insurance services sector, including the delivery of business development programmes, technology transfer services, and providing work spaces for entrepreneurs and related services including inter alia training, mentoring, peer to peer collaboration.

The InsurTech application was lead by IT Carlow with partners including Carlow and Wexford Local Authorities and Unum Insurance.