Vol. 412 No. 7
51 Mrs. T. Ahearn asked the Minister for Industry and Commerce if he will give details of the amount of funding which has been made available to companies involved in research work; and if he will make a statement on the matter.
Funds are made available to companies involved in research work via the research and development grants scheme. The scheme is designed to stimulate companies to plan and undertake commercially oriented research and development as a normal ongoing part of their business. The scheme provides for grants of up to 50 per cent of the direct costs to be incurred in research and development work, subject to a maximum of £250,000 for any one project. The scheme is administered jointly by the IDA and Eolas and is funded from the Department of Industry and Commerce grant-in-aid to the IDA.
Over the period 1 January 1970 to 31 December 1990, a total of £69,629,562 was paid to companies under this scheme. Of this amount, £5,519,396 was paid to companies in the period 1 January to 31 December 1990. I would refer the Deputy to the IDA annual reports where full details of the payments made under the scheme are given.
