Cork businesses bag over €400,000 from innovation scheme

More than €417,600 has been allocated to support Cork businesses under the smart regions enterprise innovation scheme.

Enterprise minister Peter Burke announced €18m in funding to 40 projects nationwide under the scheme, with €417,680 allocated for Cork.

Projects awarded funding in Cork include University College Cork’s iED Hub, awarded €35,760; The Crann Centre, awarded €45,000; the Microelectronics Industry Design Association (Midas) Ireland, awarded €50,000; and the Esports and Gaming Federation of Ireland Company, awarded €49,920.

Each project awarded funding will provide enterprise infrastructure, cluster development, and business services that will benefit entrepreneurs and enterprise growth in a variety of sectors.

Announcing the funding, Mr Burke said the scheme will see “physical facilities and training opportunities made available to businesses throughout the country through an existing network of enterprise centres and hubs that have been supported by Government through Enterprise Ireland”.

“By investing in enterprise hubs and training, we’re making sure every region has the tools to grow,” said Mr Burke.

“[The Government] continues to support all sizes of businesses, and this funding will help local enterprises to get established and to scale, whatever level they are at.”

Fine Gael Cork North Central TD Colm Burke said this scale of investment into Cork shows “we are putting our money where our mouth is when it comes to supporting local enterprise, supporting entrepreneurs, and facilitating very high levels of innovation and excellence.”

The smart regions enterprise innovation scheme was launched in October 2023 and is administered by Enterprise Ireland as one of a range of initiatives under Ireland’s two European regional development fund programmes managed by the regional assemblies.