€785k in funding announced for 8 scoping projects in the South East

Successful applicants will be funded under the Regional Enterprise Innovation Scoping Scheme 2022 (REISS).

Ministers of State Robert Troy TD and Damien English TD announced details of the 47 projects nationwide that have been approved for a total of €3.5m in grant support under the Regional Enterprise Innovation Scoping Scheme 2022.

8 of these projects amounting to a total regional funding of €785k are from applicants within the South East. The South East projects represent the wide spread of sectoral and stakeholder activity currently happening in the region including Financial Services, Life Sciences, Engineering, ICT, Agri and Sustainability.

Some 5 Projects have been approved for REISS Priming Grants of up to €200,000, while 3 projects have been approved for REISS Feasibility Study grants of up to €50,000.

The REISS funding supports the development of potential innovative regional projects aligned with the objectives of the new South East Regional Enterprise Plan that was launched earlier this year.

Speaking at the funding announcement today Minister Robert Troy said:

“The nine Regional Economic Plans have the capacity to drive job growth and business expansion throughout Ireland. These ambitious plans draw on the established strengths of each region and are focused on ensuring the enterprise ecosystem is equipped to grasp the opportunities of the future. Developing an enterprise ecosystem across Ireland will help deliver jobs and prosperity as outlined in the Regional Economic Plans. These plans are about future opportunities and ensuring that Irish enterprise has the capacity and know how to continue to thrive, in both the domestic and international market.

“We need to encourage new innovation and new thinking about how we tackle the significant challenges that business faces and I am sure that many of the projects funded today will go on to become centres of excellence that support of enterprise culture and contribute to local economies.”

Carol Gibbons, Divisional Manager, Regions and Local Enterprise, at Enterprise Ireland said:

“Supporting the delivery of balanced economic growth is a fundamental corner stone of Enterprise Irelands strategy. Two thirds of the employment in businesses we support are located outside Dublin and make a huge contribution to local economies. It is important that this momentum is maintained. The funding announced today supports the future economic development of the regions, ensuring that business can access the support and expertise necessary to compete and win in a rapidly changing business environment.”

The Regional Enterprise Innovation Scoping Scheme Grant is a single grant type, but with two different grant levels depending on the scope and scale of the project:

  • Feasibility Funding – A REISS Feasibility Grant with 80% grant support to cover consultancy and travel costs for smaller early stage feasibility projects, and
  • Priming Funding – A REISS Priming Grant with 80% grant support to cover Consultancy and Travel, but also supporting the cost of Personnel, Promotion and the Rental of Office space for larger scale more significant scoping projects.

Successful applicants have completed a rigorous evaluation process and in general these projects have:

  • Strong industrial interest or connections,
  • Strong alignment with the scheme objectives,
  • Linkages to key regional/national stakeholders including 3rd level/HEIs,
  • Well defined Key Performance Indicators (KPIs) & Metrics, with clear timelines for delivery, and
  • A clearly defined and costed project plan.

Successful Applicants

Applications for funding were invited through a public call and 47 applicants have been approved for the scheme.

The 3 South East projects receiving REISS Feasibility Study Grants are:

SOUTH EAST ECONOMIC DEVELOPMENT OFFICE Waterford South East
SOUTH EAST TECHNOLOGICAL UNIVERSITY Waterford South East
WATERFORD CITY AND COUNTY COUNCIL Waterford South East

The 5 projects receiving REISS Priming Grants are:

CARLOW COMMUNITY ENTERPRISE CENTRES Carlow South East
HIGH PERFORMANCE BUILDING ALLIANCE Wexford South East
INCUPHARM Waterford South East
IRELAND SOUTH EAST FINANCIAL SERVICES CLUSTER

(UNDER SE ECONOMIC DEVELOPMENT OFFICE)

Waterford South East
THREED (DESIGN DEVELOP DISSEMINATE) Waterford South East