An Taoiseach, Leo Varadkar and Minister for Business, Enterprise and Innovation, Heather Humphreys have today unveiled the 27 innovative projects who are sharing over €75 million in funding out to 2021 under the first tranche of the Disruptive Technologies Innovation Fund.
The projects can use the funding to develop and deploy their disruptive innovative technologies on a commercial basis. The Fund is a key part of the Government’s ‘Future Jobs’ initiative, a new whole-of Government plan to secure Ireland’s economic success, starting in 2019. 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.
Twenty seven projects from sectors like life sciences, medical devices, ICT, manufacturing, food, agriculture, energy sustainability and the creative industries made successful applications for this first round of funding.
All include collaborations between start-ups, SMEs, multinationals and academic institutions. Every project involves at least one SME and many are led by an SME. Over the next ten years some €500 million will be allocated through the fund, which was announced as part of Project Ireland 2040.
The projects include a scheme to help communities generate their own electricity, new treatments for sepsis, a support system for coastal flooding and advanced 3D printing of medical implants.
Announcing the successful projects at a special event at the Royal College of Surgeons in Dublin today, the Taoiseach said, "The creation of this fund is particularly timely when we consider the vast and rapid technological advancements that are taking place. Today everything is faster, more efficient, and more easily accessible. We must adapt to a future of greater digitalisation and automation. Today’s school children will be employed in jobs and industries that don’t exist yet. Technology will eliminate or transform existing occupations."
He added, "The Disruptive Technologies Innovation Fund is central to the Future Jobs Programme. It’s our way of stimulating private investment in new technologies and ways of doing business, and building stronger links between higher education, multinationals and Irish SMEs."