Thursday, 12 December 2019

Ceisteanna (148)

Tom Neville

Ceist:

148. Deputy Tom Neville asked the Minister for Business, Enterprise and Innovation the amount of the first two rounds of the disruptive technology innovation fund allocated to projects involving third level institutions. [52526/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Business)

The Disruptive Technologies Innovation Fund (DTIF) is a €500 million fund established under Project Ireland 2040 and forms a key part in the delivery of Pillar 1, embracing innovation and technological change, under the Future Jobs Ireland framework.

A particular focus of the Fund is to encourage research, development and innovation collaboration between enterprises located in Ireland, working with one or more Research Performing Organisations (RPOs), including third-level institutions such as universities and Institutes of Technology. Under Call 2, collaborations were required to have at least three project partners with at least two of these to be enterprises.

On 7 December 2019, I announced details of the successful applicants under Call 2 of the Fund. A total of €65m was awarded to 16 projects which will be drawn down over three years. This is in addition to the €75m awarded to 27 projects under Call 1 in 2018.

In Call 1, the €75 million awarded to 27 projects was split between RPOs and companies (SMEs and multinationals), with RPOs receiving approximately 53% of the funding and companies receiving approximately 47% of the funding.

For Call 2, the €65 million awarded to 16 projects was also split between RPOs and companies with approximately 37% going to RPOs and 63% going to companies.

Of course, companies have to match the DTIF funding that they receive.

RPOs, most of which are third-level institutions, are involved in 41 of the 43 projects that were awarded investment under Calls 1 and 2 of DTIF. Just two These projects have been awarded €137m of the total €140m allocated. In all, 11 of the projects funded to date are led by an RPO.