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Trinity College Dublin unveils plans for Grand Canal Innovation District

Written by Robert McHugh, on 13th Jul 2018. Posted in General

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An Taoiseach, Leo Varadkar launched a far-reaching plan for the creation of the Grand Canal Innovation District in Dublin yesterday. The proposal from Trinity College Dublin is modelled on innovation districts in cities such as Boston, Toronto, Rotterdam and Barcelona.

It aims to significantly strengthen Ireland’s competitive advantage when developing new indigenous companies or competing for foreign direct investment.

A memorandum of understanding has been agreed between Dublin’s universities and a special government-led advisory group established which is aimed at developing the new district which will include the proposed development of a new €1 billion Trinity campus at Grand Canal Quay.

At the heart of the planned innovation district is a planned €1bn campus which will be built and financed by Trinity in collaboration with industry, debt funding entities and other sources of funding.

Yesterday’s launch event also marked the start of a major local consultation process involving the key stakeholders in the vicinity - international companies and Irish businesses based in the Grand Canal area, community representatives, government and state agencies as well as tech and business sector representatives and social and cultural bodies.

The consultation process will culminate in the development of a masterplan proposal for the Grand Canal Innovation District which will be developed over the coming months.

Speaking about the initiative, the Taoiseach said, "I am really excited about this plan to further develop the Silicon Docks as an Innovation District involving a collaboration of business, Government and the university sector. It speaks eloquently to our vision of making Ireland the tech capital of Europe and our plans to ensure that the jobs of the future are created first here in Ireland. The development of the District will also help to ensure the continued balanced development of the area to the benefit of the local community."

He added, "Many high-tech companies already have their European headquarters here, we have a young and talented workforce, a consistent and competitive corporation tax regime and a strong reputation for attracting and encouraging investment. However, we can’t take this for granted and we always need to look at ways to improve Ireland’s competitive edge."

Source: www.businessworld.ie

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