Enterprise Ireland has awarded €6m to a string of applicants as part of the Capital Equipment Fund for third-level institutes.
Minister for Business, Enterprise and Innovation Heather Humphreys, TD, announced today (25 July) that there have been 43 successful applicants from the institutes of technology and TU Dublin for the Capital Equipment Fund.
Administered by Enterprise Ireland through the Technology Gateway Network, the applicants will receive investment from a fund of more than €6m, which will assist them in buying new technologies such as augmented and virtual reality, as well as mobile robotics.
This investment, the Government agency said, aims to help increase the levels of interaction between institutes of technology and industry in Ireland.
The intended outcomes of the programme include: more companies engaging in R&D, pilot manufacturing capability for new products or process development, enhanced technology validation, and testing capabilities. It will also lead to testbed generation and enhanced training potential for key industry staff on emerging technologies.
The successful applicants were chosen through an evaluation based on having a strong track record of industry engagement, a significant industrial need for the new equipment, and space to service and maintain the equipment according to international standards.
Speaking of the fund, Humphreys said: “Our aim is to build on our strong enterprise ecosystem from across the wide spectrum of academia, research and business communities. This fund directly supports projects that are emerging from the ground up.”
She added: “The successful applicants announced today are housing research projects and initiatives that are at the cutting edge of innovation and I am confident that they have the potential to make a real and lasting impact on enterprise development at both a regional and national level.”
Earlier this month, Enterprise Ireland announced that another €100m was being made available under the Disruptive Technologies Innovation Fund for three-year projects to 2022. The goal of this fund is to drive collaboration between Ireland’s research base and industry, as well as facilitating enterprises to compete directly for funding in support of the development and adoption of these technologies.