Smart Region Enterprise Innovation Scheme
The Smart Regions Enterprise Innovation Scheme supported under the European Regional Development Fund (ERDF) is aimed at accelerating economic growth in all regions of the country, by working with stakeholders to deliver on their potential regional enterprise strengths and opportunities, and by strengthening the regional enterprise innovation system.
The overall objective of this Scheme is to drive job creation/retention and enterprise development in each region throughout Ireland. In addition, Smart Regions funding is targeted at strategic locations regionally where an identifiable deficit exists in key infrastructure, which is necessary to support the micro and SME client base.
The Smart Regions Enterprise Innovation Scheme will be administered by Enterprise Ireland and will be open for applications from 12 October 2023. Co-funded by the Government and the European Regional Development Fund (ERDF), the Scheme will capitalise on existing regional enterprise partnerships and complement priorities set out in the nine Regional Enterprise Plans.
The projects under the scheme shall be:-
- Collaborative in nature,
- Financially viable, (must be profitable business propositions in the case of Infrastructure projects)
- Focused on delivering metrics and key performance indicators (KPIs) which provide additionality to the existing regional infrastructure.
Cathaoirleach of the Southern Regional Assembly, Cllr Terry Shannon said;
“The Smart Regions Enterprise Innovation Scheme will make an important contribution towards job creation and economic growth in our regions. It will empower enterprises to work collaboratively to drive product and process innovation. This regional focus in particularly welcome, it allows us to build on regional strengths and to address key gaps in local infrastructure".
The first call for the Smart Regions Enterprise Innovation Scheme is open for applications from 12 October 2023 and closes on 31 March 2024. Under a competitive process, applications are now sought for funding under four streams, with varying investment levels, up to €10m in:
1. Local infrastructure projects
2. Innovation clusters and consortia
3. Services to SMEs to drive Innovative Solutions
4. Feasibility & Priming Grants.
If you want to find out if you are eligible for funding click here for more information.