Dáil Éireann Debate, Tuesday - 15 April 2014
306. Deputy Bernard J. Durkan asked the Minister for Jobs, Enterprise and Innovation the extent to which smaller indigenous companies can avail of assistance by way of support for research and innovation with consequent improved job retention and creation prospects; the extent to which he sees such smaller companies being in a position to avail of such assistance in the current and following years; and if he will make a statement on the matter. [18082/14]
View answerSecuring Ireland’s future economic growth and sustainability requires a vibrant and productive indigenous enterprise sector. Improvements in these companies’ innovative capabilities will allow them to grow, increase their exports and substantially improve their levels of employment. Enterprise Ireland’s primary focus is on helping indigenous small to medium enterprises (SMEs) to grow and the agency operates a suite of supports to assist SMEs in their research and innovation efforts.
Assistance is available to support all stages of a company’s development. In-company R&D supports via the Enterprise Ireland R&D fund supported over 100 projects valued at over €100,000 each in 2013. Innovation Vouchers are €5,000 vouchers that mainly support small companies to engage in initial research projects with academic researchers. In this way experienced researchers can perform the R&D on behalf of small companies while these companies receive a useful commercial output and a first step on the innovation ladder. Over 500 such projects are completed every year. Approximately 60 large industry-academic collaborative projects (up to €200,000) known as Innovation Partnerships are supported annually. In addition, Enterprise Ireland fund industry focused Technology Centres with over 300 member companies at present and the Technology Gateways programme which generates over 200 collaborative research projects completed for industry each year to provide interfaces between the academic research community and companies in Ireland. Information on all supports for research and development is available on the Enterprise Ireland website – www.enterprise-Ireland.com.
The Action Plan for Jobs 2014 emphasises the importance of innovation and the use of technology as core drivers of job creation in Ireland’s key sectors during 2014 and into the coming years. Research and development support programmes and initiatives are critical in supporting Irish businesses in order to drive growth, sustainability, exports and job creation. My Department and its enterprise agencies will continue to promote the application of research, development and innovation to gain competitive advantage and to build on the strengths that have emerged from the investment to date in Science, Technology and Innovation.
Improving access to finance is a key pillar of The Action Plan for Jobs. The right mix of available funding solutions is essential in fostering increased investment in research & development and innovation by small companies. The Government’s SME funding initiatives that include the introduction and improvement of the SME Loan Guarantee Scheme, the launch of MicroFinance Ireland, the continued availability of the Innovation Vouchers scheme along with increased investment in the Seed & Venture Capital is having a positive impact on the funding landscape and gives confidence in particular to smaller companies to access funding and take advantage of the range of state supports for research and development.
