Government opens third round of Disruptive Technologies Innovation Fund

Credit: Riccardo Annandale / CCO

Government backed competitive fund to invest €500m in cutting-edge technology

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25 September 2020 | 0

The third round of the Disruptive Technologies Innovation Fund (DTIF), a government-backed competitive fund to invest in cutting edge technology, has been launched.

This is the third round of the €500 million fund. Under the first two rounds, €140 million was allocated to 43 ground-breaking projects, which spanned technologies such as medical devices, cell and gene therapies, quantum computing and artificial intelligence.

Assessed by an independent international panel of experts, the competitive fund will drive enterprise collaborations involving firms of all sizes, including a requirement for at least one SME and one other enterprise in every consortium. It will also encourage collaboration with Ireland’s world-class research base within the third level sector.

 

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Projects must be geared towards commercialisation over a three to seven-year timeframe and align with Ireland’s six research priority areas, namely ICT; health and wellbeing; food; energy, climate action and sustainability; manufacturing and materials; and business services and processes.

To ensure that projects of scale and impact are funded, the DTIF is available to applicants requesting funding of €1.5 million or more for projects of up to three years duration. Enterprise partners must provide matched funding.

The call for funding will be administered for the Dep of Business, Enterprise & Innovation by Enterprise Ireland.

“There has never been a more important time for Irish businesses to adapt and innovate,” saidTánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar. “Not only has Covid-19 fundamentally shifted many traditional ways of working, but technological change too is transforming so many aspects of our lives, having a profound impact on our society and economy.

“This fund will help maintain our position at the forefront of countries that are leading these changes. It will enable dynamic Irish companies and researchers to experiment and develop their ideas, break new ground and ultimately develop truly world-class innovations.”

Julie Sinnamon, CEO of Enterprise Ireland said: “The Disruptive Technologies Innovation Fund is a key part of our efforts to prepare now for tomorrow’s world. The successful projects will be rooted in collaboration between industry and academia, with a clear focus on commercialisation. Crucially, they will have a transformative impact on how we work or live.

“Irish companies are already at the forefront of research to develop disruptive technologies related to health, energy and the environment that will create a legacy of scientific achievement in structured materials research that benefits future generations.”

The application deadline is 17 December 2020.

TechCentral Reporters 

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