Dáil Éireann Debate, Thursday - 19 May 2022
194. Deputy Denis Naughten asked the Tánaiste and Minister for Enterprise, Trade and Employment if he will outline Ireland's strategic plans to develop the fintech and agritech sectors respectively; and if he will make a statement on the matter. [25556/22]
Amharc ar fhreagraIreland is one of a very few locations with a proven record of accomplishment in the financial services and technology arena and is viewed as a strategic hub for innovation in fintech. Many of the world’s leading companies have a significant presence in Ireland, with activity spread right across the sector including Online Payments & Processing, Digital Banking, Cross Border Payments, Payment Gateways, Insurtech, Regtech and Blockchain. Notwithstanding the challenges posed by the Covid-19 pandemic, the digital transformation of the financial services sector continues to develop.
Ireland for Finance, the whole-of-Government strategy for the development of Ireland’s international financial services sector was launched in 2019. Fintech is a priority in the Ireland for Finance Action Plan 2022 and a mid-term review of the strategy is currently being undertaken by the Department of Finance.
My Department works closely with Enterprise Ireland to assist companies in the fintech and financial services sectors at all stages of development – from early-stage start-ups to large companies – based on their identified need for growth. These are companies that have an ambition to scale internationally and are looking to enter new markets or build market share in existing markets. My Department together with Enterprise Ireland provide a comprehensive and systematic range of financial and non-financial assistance across fundamental business requirements like strategy; innovation; operations; sales and marketing; people; and finance.
Transforming the sustainability performance of Irish enterprise and assisting companies to capitalise on the growth opportunities presented by the low carbon transition, are key areas of focus for my Department. Together with Enterprise Ireland a Climate, Sustainability & Agritech Unit has been established to strengthen the capability and growth potential of agri-tech companies, with a particular focus on the development of sustainable solutions for the agri-food sector in Ireland and overseas.
My Department through Enterprise Ireland is working directly with companies in the sector, providing funding, advisory and capability building assistance to deliver innovation and to assist in their long-term development and growth, strengthening their competitiveness and productivity across all regions.
