€10m is being provided to regional Irish businesses across two funds in a bid to help them recover from the pandemic and transition to a greener, digital economy.
The Government has today (29 July) announced it will provide €10m in funding through Enterprise Ireland to support regional enterprises and sustainable job creation around the country post-pandemic.
The €9.5m Regional Enterprise Transition Scheme will provide grant funding to regional and community-based projects focused on helping businesses adapt to the changing economic landscape due to Covid-19 and Brexit. It will also fund projects supporting digitalisation and assisting in the transition to a green economy.
Leo Clancy, CEO, Enterprise Ireland, said the scheme is aimed at supporting regional development and the regional business ecosystem, “helping to create and sustain jobs in the regions impacted by Covid-19”.
‘It will help stimulate transformational regional projects to support enterprises that embrace the opportunities of digitalisation, the green economy, as well as navigate the changed landscape arising from Covid-19’
– ROBERT TROY, TD
Grants of up to €1.8m or 80pc of project costs will be available to businesses. The projects should aim to address the impact of Covid-19 and improve the capability and competitiveness of regional enterprises.
The call for the Regional Enterprise Transition Scheme will close on 8 September 2021. The successful projects will be announced in October and all funding will be provided to the successful applicants before the end of the year.
A separate €500,000 Feasibility Fund will provide financial support to early-stage regional enterprise development projects.
It is open to new projects, with grants available of up to €50,000 or 50pc of project costs, and will allow applicants to test their project concept and deliver virtual or site-based solutions to their target audience. Applications for the Feasibility Fund close on 1 October 2021.
Minister of State for Trade Promotion, Digital and Company Regulation Robert Troy, TD, said the scheme would “help stimulate transformational regional projects to support enterprises [that] embrace the opportunities of digitalisation, the green economy as well as navigate the changed landscape arising from Covid-19.
“This will assist in helping regional enterprises identify areas for growth and expansion in Ireland and other markets.”
Minister of State for Business, Employment and Retail Damien English, TD, added that the funds would help “build Covid-19 and Brexit resilience and enable applicants to support enterprises and SMEs to respond to recent economic and market challenges, which also includes the transition to a lo- carbon economy, digital transformation and smart specialisation.”