04 Dec 2018 | 02.14 pm
21 Projects Share €29m Regional Funding
Biggest grant for minister Humphreys' constituency
04 Dec 2018 | 02.14 pm
The Department of Business has announced details of €29m in government funding to be distributed to 21 organisations in the second round of the €60m Regional Enterprise Development Fund (REDF).
The successful recipients were chosen from 77 initial REDF second round applicants. Among the recipients, The Boyne Valley Food Innovation District in Meath was awarded €1,580,000.
The single biggest allocation of almost €5m went to the Bioconnect Innovation Centre, which is based in business minister Heather Humphreys’ home county of Monaghan.
The directors of Bioconnect Innovation Centre CLG are Peter Corcoran and Paul Clifford. The company was incorporated in June 2018 and Corcoran is a former director of OpenHydro. The company is promising a project to support the performance of “cutting edge biotechnology research by companies through the provision of office, laboratory, and biotechnology focused research capabilities for all
stages of business development”.
Other recipients include:
• Galway City Innovation District — €2,487,400
• Innovate Limerick — €2,279,070
• Ludgate Operations, Cork — €1,990,390
• National Design Innovation Hub, Carlow/Kilkenny — €1,843,320
• Clare Maritime Economic Zone — €1,759,230
Of the 21 funding recipients, 12 are Company Limited by Guarantee corporates i.e. not for profit. Nine of the funding recipients are Designated Activity Company i.e. regular commercial companies. These are Midc Pairce Na Mara (€2m), CIT Consortium Projects (€336,000), Incupharm (€799,000), National Design Hub (€1,843,000), Boyne Valley Food Innovation District (€1,580,000) BNest Social Initiatitve (€603,000), Clare Maritime Economic Zone (€1,759,000), Innovate Limerick t/a Hospital Foods (€2,279,000), and Focused Engineering Network (€250,000).
The REDF was launched by the government in a bid to boost employment in regional locations. The first call, launched in 2017, provided €30.5m in grant support.
The Department said the latest grant-aided projects were selected based on various criteria, including impacts and value for money; collaboration and participation; viability and sustainability; building regional strengths; and significance for innovation.
Gary O’Meara, managing director of the Boyne Valley Food Innovation District, said that his enterprise had the potential to become a leading food cluster to help Irish indigenous food businesses to grow internationally. “We are delighted that Phase 1 of this exciting project, ‘The Boyne Valley Food Hub’, has been funded under REDF,” he added.
Photo (l-r) Minister Heather Humphreys, Gary O’Meara and Enterprise Ireland’s Julie Sinnamon