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€65m for 16 projects under Disruptive Technologies Innovation Fund

Written by Robert McHugh, on 11th Dec 2019. Posted in Technology

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Minister for Business, Enterprise and Innovation, Heather Humphreys together with Minister for Employment Affairs and Social Protection, Regina Doherty announced on Saturday that 16 innovative projects have been successful under the second round of the Disruptive Technologies Innovation Fund administered by Enterprise Ireland. The projects will share €65 million out to 2022.

The Fund is delivering on Pillar 1 of the Government’s Future Jobs Ireland framework – Embracing Innovation and Technological Change – by funding the development and deployment of disruptive innovative technologies on a commercial basis. It is one of the first funds of its type in the world and is aimed at tackling national and global challenges to secure the jobs of the future.

The 16 projects cover life sciences, medical devices, ICT, artificial intelligence, blockchain, manufacturing and environmental sustainability, including in the waste and energy sectors.

They all involve collaborations of between three to seven partners, with at least one SME being involved in every project and 13 being led by an SME. The other partners include other SMEs, as well as multinationals and academic institutions. 

The €65m announced on Saturday brings the total funding awarded under DTIF to date to €140m. The Fund, which was announced as part of Project Ireland 2040, will see an overall amount of €500 million of Government funding allocated over the ten years from 2018 to 2027 alongside enterprise co-funding.

A total of 63 full applications were entered under this second call of the Fund. The eligible projects received went through a rigorous and highly competitive evaluation process involving screening and interview by panels of international experts.

Announcing the successful projects at a special event at NovaUCD on Saturday, Minister Humphreys said, "Yet again I am amazed at the quality and originality of the projects that are receiving funding under the Disruptive Technologies Innovation Fund today. These 16 projects will bring significant changes and benefits across all sectors of society, both at a national and a global level. Ultimately, they will change how we work and live, enhance the competitiveness of the Irish economy and help us to create the jobs of the future."

UCD Vice-President for Research, Innovation and Impact, Professor Orla Feely added, "I am delighted that UCD researchers are partnering in four of the successful disruptive projects which will be funded under the second tranche of this highly competitive fund. I am also very pleased to see two UCD spin-out companies, Equal1 Labs and Latch Medical, both headquartered here at NovaUCD, along with NovaUCD graduate company Corlytics, as partners in projects funded under the scheme. This strong involvement of UCD researchers and UCD companies reflects the strength of research and innovation activities taking place across UCD."

Source: www.businessworld.ie

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