Dáil Éireann Debate, Tuesday - 11 April 2017
783. Deputy David Cullinane asked the Minister for Jobs, Enterprise and Innovation the number and value of innovation vouchers issued by Enterprise Ireland for each of the years 2006 to 2016, in tabular form; and if she will make a statement on the matter. [18107/17]
View answerResearch, Development and Innovation (RDI) is globally recognised as the key economic differentiator. RDI enables companies in Ireland to make products and services that are better, cheaper or more novel than those in global markets. Thus, in order to export, and to provide insulation from market shocks, such as those posed by Brexit, Irish companies must innovate.
Enterprise Ireland’s role in this regard is to support and de-risk such RDI either by supporting companies to (1) do RDI within the company (2) collaborate with Higher Education Institutions (HEIs) or (3) source or licence new technologies from HEIs which can provide a step change in innovative capabilities. These supports all help companies to develop new and improved products and services which serve as the basis for sustainable economic growth.
As a first step on the innovation ladder companies can avail of €5,000 Innovation Vouchers. Innovation Vouchers are designed to build links between Ireland's public knowledge providers and small businesses and are helping to create a cultural shift in the small business community's approach to innovation. All small enterprises are eligible to apply for an Innovation Voucher.
A 2013 independent evaluation of the Innovation Voucher Programme carried out for Enterprise Ireland reported that for every €1 invested in this programme, company turnover increased by over €7. As such, the Innovation Vouchers programme is a cost-effective solution to the challenge of encouraging SME businesses to engage in collaborative research with Universities and Institutes of Technology.
There have been 4,479 vouchers redeemed in the period 2006 – 2016, the value of innovation vouchers across this period is presented below. In some cases the full value of an innovation voucher will not be drawn down.
Enterprise Ireland Innovation Vouchers (approvals €m):
|
2006 |
2007 |
2008 |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
|
- |
0.018 |
1.01 |
2.39 |
2.58 |
2.54 |
2.62 |
2.57 |
2.92 |
3.27 |
2.89 |
Enterprise Ireland Innovation Vouchers (number of vouchers redeemed):
|
2006 |
2007 |
2008 |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
|
- |
4 |
206 |
526 |
524 |
518 |
525 |
527 |
525 |
530 |
594 |
