Ireland Launches New Research And Development Grant Scheme

by Jason Gorringe, Tax-News.com, London

29 January 2008

Ireland's Minister for Enterprise, Trade and Employment, Micheal Martin, has announced the launch of a revised and simplified Research and Development Grant Scheme, which will make EUR500m available to companies across all sectors.

The new scheme will see job creation agencies, Enterprise Ireland and IDA Ireland, invest the money to support Irish R&D and secure jobs in all parts of the country.

The funding will be made available over the remainder of the Government's Strategy for Science, Technology and Innovation period (2008-2013).

Some notable features of the new R&D scheme include: a simplified application process; enhanced support from R&D novices right up to R&D experts; a new R&D investigation and stimulation phase; the elimination of repayable grants; the opening of funding to services companies; the encouragement of collaboration with other companies and third level institutions; and a special focus on SMEs with increased funding rates and more flexibility.

In unveiling the scheme, Minister Martin explained that:

"This Government investment of over EUR500 million will ensure that Irish companies remain at the cutting edge of research and development into the future, and that we have an innovative economy which will continue delivering jobs for our people.

"In line with Government policy to cut red tape for business the new grant scheme will also be streamlined to make the application process as straight-forward as possible for companies."

He continued: "Ireland has developed a reputation as being a top location for ground breaking research. Company-to-company collaborations and partnerships between our third level institutions and companies are at the core of this. Projects already underway are researching how to combat disease, improve communication technology and develop products of the future."

"This approach to producing high-quality R&D ensures that Ireland remains a base for high tech quality jobs in the years ahead. I am delighted that our new scheme encourages R&D collaboration between companies, particularly amongst small businesses."

"As we launch this scheme I would like to encourage companies of all sizes and from all sectors to use this opportunity to check if they are geared up for the challenges of the future, and to examine if they can qualify for Government support for R&D projects."

Outlining elements of the fund that are designed specifically to support Irish companies, Feargal O Morain, Executive Director of Enterprise Ireland explained that:

“Enterprise Ireland is here to help companies in the services and manufacturing sectors get the best funding available for their R&D project. Companies don’t need to have any prior R&D experience to apply, they just need to have the will to explore what R&D can do for their profit margins."

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