Ashley McDonnell, Digital Business Ireland

DBI seeks €10m fund to help businesses take advantage of Web3

Representative body calls for national strategy and information campaign
Ashley McDonnell, Digital Business Ireland

15 August 2022

Digital Business Ireland (DBI) has for the introduction of a €10 million fund for businesses in its pre-Budget 2023 submission.

The representative body for online businesses highlighted how Web3 has the potential to unlock new ways of doing business, and build better customer experiences. It provides faster, more relevant data to end users and allows people to own and trade elements of the Internet, from cryptocurrencies to NFTs. It noted that the country’s status as a global tech hub provides fertile ground for internet innovation. In addition to the fund DBI recommended the establishment of a national Web3 strategy and the implementation of a targeted information campaign.

“From engagement with our members, it is evident that many businesses are enthusiastic about the prospect of new and emerging technologies; but naturally, need support on how best to optimise the opportunities that will arise,” said chairperson of Digital Business Ireland Ashley McDonnell (pictured). “The future of the internet is boundless, and Web3 will enable businesses of all sizes to provide tailored experiences to their customers; while transforming the ways in which we work, meet and do business.




“The substantial funding allocated to digital transformation projects on behalf of the government, combined with Ireland’s status as a global tech hub, means that we already possess a lot of the infrastructure needed to leverage the full potential of Web3 and digital assets, more broadly.”

McDonnell continued: “As part of DBI’s pre-Budget 2023 submission, we are calling on the government to work in partnership with industry, and other stakeholders to develop a national strategy for Web3, to include targeted funding to support businesses as they make the transition to the latest iteration of e-commerce. Building better customer experiences and improving interactions for all users will propel business growth, and unlock new market opportunities – and devising a fully-funded national strategy that enables and empowers businesses to be ahead of the curve, is a crucial component of this.”

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