Dáil Éireann Debate, Tuesday - 11 April 2017
781. Deputy David Cullinane asked the Minister for Jobs, Enterprise and Innovation the value of the commercialisation fund of Enterprise Ireland for each of the years 2006 to 2016, in tabular form; and if she will make a statement on the matter. [18105/17]
Amharc ar fhreagra782. Deputy David Cullinane asked the Minister for Jobs, Enterprise and Innovation the amount drawn down from the commercialisation fund of Enterprise Ireland for each of the years 2006 to 2016, in tabular form; and if she will make a statement on the matter. [18106/17]
Amharc ar fhreagraI propose to take Questions Nos. 781 and 782 together.
Research, 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.
Enterprise Ireland works with researchers across the HEI sector to assist in maximising the commercial return from publicly-funded research. The Enterprise Ireland Commercialisation Fund provides supports for academic researchers to take research outputs with commercial potential and bring them to a point where they can either be transferred into industry or spun out into a new start-up company. In this way, the Commercialisation Fund helps to ensure that there is an avenue for ongoing research to be translated into industry relevant outputs which can drive company creation and growth. The programme funds the development of innovations at all stages of the commercial pipeline to the point where they can be commercialised as new products, services and companies.
The Commercialisation Fund, combined with Enterprise Ireland’s Technology Transfer Supports, facilitates the creation of 25 to 30 new spinout companies per annum (26 for 2016), approximately 15 of which become High Potential Start-Ups each year. They also generate more than 160 new commercially relevant technologies per annum (186 in 2016) that can be transferred to industry where they can achieve economic impact for companies.
1,518 Commercialisation Fund projects were approved in the period 2006-2016 of which 823 were Feasibility/Proof of Concept projects. These are feasibility grants to investigate, scope and develop a commercial case for an innovation in advance of submitting a full Commercialisation Fund support application to the programme.
Enterprise Ireland approvals and payments under the Commercialisation Fund in the period 2006 -2016 is presented in tabular format below.
Commercialisation Fund Approvals (€m):
|
2006 |
2007 |
2008 |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
|
28.79 |
27.28 |
21.54 |
12.55 |
7.71 |
15.87 |
23.71 |
17.05 |
19.41 |
15.59 |
13.62 |
Commercialisation Fund Payments (€m):
|
2006 |
2007 |
2008 |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
|
18.78 |
21.91 |
25.34 |
23.24 |
17.47 |
14.65 |
16.43 |
15.73 |
17.79 |
15.87 |
14.11 |
