Additional €17.8m invested in Disruptive Technologies Innovation Fund

Funding for five more innovative projects announced

Trade

Credit: Riccardo Annandale / CCO

A further five innovative projects have been announced under the Disruptive Technologies Innovation Fund (DTIF). 

The €500 million fund established in 2018 under Project Ireland 2040 is one of four funds set up under the National Development Plan 2018-2027. 

Two projects have been approved funding of up to €9.6 million in the third tranche of awards under DTIF Call 4 and three projects have been approved funding of up to €8.2 million in Call 5 of the Fund. This brings the total allocation of DTIF funding to €306 million, with over €173 million (56%) of the funding awarded to project partners outside of Dublin.

DTIF places amphasises collaboration between enterprises, especially SMEs, and Irish research institutions. All five projects are being led by an SME, who are collaborating with seven other enterprise partners and seven partners from our research institutions. The 91 DTIF projects awarded funding across the five Calls to date contain 340 partners, of which 213 are enterprise partners.  

“I am delighted to be able to announce the funding of three DTIF Call 5 projects and two additional DTIF Call 4 projects,” said Minister for Enterprise, Trade & Employment, Simon Coveney. “This funding will see almost €18 million shared among the five projects, bringing total Government investment to date across five DTIF calls to €306 million. This latest investment will leverage a further €13 million from the enterprise partners, bringing total private sector investment in the 91 projects funded to date to €176 million.  It is noteworthy that over 88% of this investment is by our indigenous SMEs, thereby making a significant contribution to closing the innovation gap with the higher R&D performing foreign owned multinational enterprises.

“The three Call 5 projects are focused on advanced manufacturing, which is crucial for every industrial ecosystem across Europe. Such advanced industrial technologies help to sustain our economic resilience and competitiveness and will also facilitate the shift to a circular economy and a rapid decarbonisation of industry.”  

Leo Clancy, CEO, Enterprise Ireland, in welcoming the funding said: “The Disruptive Technologies Innovation Fund is delivering real benefit to Irish enterprise and with this announcement it is set to deliver even more, particularly for companies within the Advanced and Smart Manufacturing space. Enterprise Ireland welcomes the significant contribution made by Irish companies awarded under DTIF to date. The successful Call 5 projects are using both experimental development and industrial research in their proposed solutions and this support will help our clients compete in rapidly changing global markets, helping them boost productivity, and will give them a significant competitive advantage in their sectors.”

TechCentral Reporters

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