A memorandum of understanding has been agreed between Dublin’s universities and a special government-led advisory group established which is aimed at developing the new district which will include the proposed development of a new €1 billion Trinity campus at Grand Canal Quay.
At the heart of the planned innovation district is a university campus built and financed by Trinity in collaboration with industry, debt funding entities and other sources of funding.
Attending this morning’s official announcement, An Taoiseach Leo Varadkar said: “Many high-tech companies already have their European headquarters here, we have a young and talented workforce, a consistent and competitive corporation tax regime and a strong reputation for attracting and encouraging investment. However, we can’t take this for granted and we always need to look at ways to improve Ireland’s competitive edge.
“We have to ask ourselves; how can we market Ireland and Dublin as the ideal location for the next wave of investment? As the world changes around us, we must continuously adapt and future-proof our economy. The development of the Grand Canal Innovation District is an exciting opportunity to build a world-class innovation district where companies, researchers and entrepreneurs link up, to identify new products or services and discuss how they might be brought to market.”
Provost of Trinity, Dr Patrick Prendergast, said: “The presence of a world-class university at the heart of the Grand Canal Innovation District will be the catalyst for collaboration and partnership between industry and universities. This 5.5-acre site is ideally suited to the proposed use and will transform the existing area.”
The launch also marked the start of a major local consultation process involving the key stakeholders in the vicinity – international companies and Irish businesses based in the Grand Canal area, community representatives, government and state agencies as well as tech and business sector representatives and social and cultural bodies.
The consultation process will culminate in the development of a masterplan proposal for the Grand Canal Innovation District which will be developed over the coming months.
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