The drive to encourage Irish companies to use science and technology to increase competitiveness and value added is a significant pillar of Government Policy, as recognised in the Strategy for Science, Technology and Innovation and the Smart Economy Framework.
Ireland drives in-company Research & Development through a number of programmes administered through Enterprise Ireland. R&D funding for companies is one instrument of support for EI clients, which is used in conjunction with a range of soft and other financial supports such as Management Development and Productions Capability, to drive the development of indigenous companies. During 2009, funding for programmes of R&D activity in enterprise is projected to reach an investment level of €61m for companies, representing an increase of approximately 13% on 2008. This level of funding will be maintained in 2010. Companies in Waterford have benefited from R&D support as follows:
In 2006 three companies in Waterford were approved for in-company R&D support worth €1,034,502.
In 2007 one company in Waterford was approved for in-company R&D support worth €97,360
In 2008 seven companies in Waterford were approved for in-company R&D support worth €1,145,591
In 2009 three companies in Waterford were approved for in-company R&D support worth €336,907.
Enterprise Ireland also offers schemes whereby a Higher Education Institution is supported to undertake an R&D project on behalf of a company. In this way companies who do not have the necessary in-house capabilities to undertake specific R&D projects can source these R&D solutions from Universities or Institutes of Technology. One such industry-academic collaborative support is the Innovation Partnership programme:
In 2006 one company engaged in such a project and the collaborative college was approved for €87,280.00 in order to meet the industry partner's R&D needs.
In 2007 six companies engaged in collaborative projects and the partnering colleges were approved for €818,969 in order to meet the industry partners' R&D needs.
In 2008 one company engaged in a collaborative project and the partnering college was approved for €272,408 in order to meet the industry partner's R&D needs.
In 2009 three companies engaged in collaborative project and the partnering colleges were approved for €381,329 in order to meet the industry partners' R&D needs.
Another industry-academic collaborative support is Enterprise Ireland's Innovation Voucher Initiative which provides vouchers worth €5,000 to small businesses to introduce them to innovation by linking them with a network of 38 knowledge providers, North and South of the border. A simple application process and facilitation support from Enterprise Ireland can help small companies who have never engaged in research to engage high skilled researchers to address key company needs and provide innovative solutions to business problems.
This scheme commenced in 2007 whereby 27 Waterford companies received Vouchers worth a total of €135,000.
In 2008 25 Waterford companies received 27 Vouchers worth €135,000
In 2009 53 Waterford companies received 57 Vouchers worth €285,000.
It is clear that the global economic crisis is having a pronounced effect on the open Irish economy and accordingly in employment creation, particularly in sectors with limited R&D investment such as construction. The Government is keenly focused on supporting Irish enterprise with the ultimate goal of export growth, and subsequently sustainable employment. An analysis of Enterprise Ireland's client base in 2009 shows that Small and Medium Enterprise who invest in R&D enjoy significantly greater rates of growth in both employment and sales and exports than those who do not undertake R&D. The results of this survey are evident in the performance of companies based in Waterford, while enterprises in Waterford suffered an overall loss in employment over the period, a total of 1,339 jobs were created by Enterprise Ireland client companies based in the county.