The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar, and the Minister for Further and Higher Education, Research, Innovation and Science, Simon Harris, announced that another three innovative projects have been approved funding of up to €13.3 million in the second tranche of awards under the fourth round of the Disruptive Technologies Innovation Fund (DTIF). This brings the total allocation of DTIF funding to over €288 million, with over €165 million (57%) of the funding awarded to project partners outside of Dublin.
Announcing the three additional awards under Call 4 of the DTIF, the Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar, said, “innovation opens the door to future growth, future prosperity and future jobs. I am glad that we are in a position to fund a further three disruptive innovation projects under Call 4 of the Disruptive Technologies Innovation Fund.”
“The three additional awards will see €13.3 million shared among the 11 partners involved, bringing total investment in this call to over €53 million across 14 projects. It is really positive to see the commitment of the enterprise partners to match the government investment, which will see a further €9 million in private sector funding directed to these projects. The latest projects being funded involve collaboration on exciting projects in the MedTech and Climate Action sectors. These projects have the potential to significantly improve the quality of life for people with heart valve problems or leg ulcers, and to reduce the carbon footprint of livestock.”
DTIF places a large emphasis on SME participation, to utilise their potential as drivers of disruptive innovation. The three successful consortia in this tranche of funding are being led by an SME, in collaboration with three other enterprise partners and five partners from our research institutions. 158 SMEs have been awarded funding in the four DTIF calls to date. SME participation is fundamental to the continued stimulation of new technologies. These technologies will help us embrace new opportunities, futureproof our economy and provide resilience for the challenges we face today and for those that lie ahead.
Minister for Further and Higher Education, Research, Innovation and Science, Simon Harris, also welcomed the three latest DTIF awards, “these three additional DTIF awards are further evidence of the links between excellent research and our strong industry base. The six enterprise partners and five research institutions involved will work together to convert their industrial research into products that can disrupt existing markets. Continuous innovation enables Irish companies to compete successfully in global markets. Such innovation is however dependent on having a solid science base, and I am proud that our research institutions so regularly demonstrate that they can rise to the demands required of them by industry. It augurs well for the ongoing success of our economy and society.”
Leo Clancy, CEO of Enterprise Ireland, which administers the Disruptive Technologies Innovation Fund, said, “despite the huge challenges presented in recent years, Irish companies have remained agile, and have contributed to Ireland becoming a global hub for technology and innovation. The recipients of these awards, who are working on disruptive projects with the ability to potentially improve healthcare outcomes and to have an impact on sustainability, exemplify that innovation and resilience. These awards will support these companies to continue to be ambitious and will support further collaboration.”