New €85m “Grow Digital” Fund to help firms of all sizes and across all sectors.
A new €85m Digital Transition Fund has been created by the Irish Government to help businesses no matter what stage they’re at and no matter what sector they are in to go digital.
The Digital Transition Fund has been allocated funding of €85m during the period to 2026 as part of Ireland’s National Recovery and Resilience Plan. €10m will be available in 2022. It will be administered by Enterprise Ireland.
“Businesses that embrace digital technologies, processes and skills will be crucial for Ireland’s continued economic success”
The Fund will be used to help companies use digital technology like AI, cloud computing and big data to improve their products, processes, supply chains and services. The funding will help companies at all stages of their digital journey – from going online to facilitating exporting and to using digital technologies to reach new markets and improve their productivity and competitiveness.
A new online website is also being developed which will allow companies assess what their needs are and point towards their next steps to improve their offering through digital technology.
“Digital technology has transformed so much of our everyday lives, vastly improving it in many ways,” said Tánaiste and Minister for Trade, Enterprise and Employment Leo Varadkar, TD.
“From how we get around, to how we work, to how we access services and communicate with one another, digital technology has massively disrupted traditional ways of doing things.
The trend is only going one way and our lives are only going to become more integrated with digital technology. That is why we need to make sure our SMEs are prepared. This €85m will fund businesses looking to use cutting edge technology like artificial intelligence to improve how they make their products and services. It will fund new equipment and software, staff training and expertise.
“I know the whole area can be a bit overwhelming to some and many businesses don’t know where to start. Rest assured, we will meet you at whatever stage you’re at. We’re also developing a new website that will allow you input your details and find out what help is available for you, according to your individual circumstances.”
The objective of the Digital Transition Fund is to drive transformative digitalisation of enterprise in Ireland, particularly amongst SMEs. The programme will assist companies across all sectors with assistance tailored to specific enterprise needs.
The Digital Transition Fund has been allocated funding of €85m during the period to 2026 and in the 2022 Scheme (allocated budget: €10 million), will operate across 3 tracks to increase digitalisation of all businesses across products, processes, supply chains and business models. This will bring about productivity gains, access to new markets, increased innovation, and improved competitiveness.
Full details of the Digital Transition Fund and eligibility are available on Digital Transition Fund – DETE (enterprise.gov.ie)
“Businesses that embrace digital technologies, processes and skills will be crucial for Ireland’s continued economic success. In truth, digitalisation is no longer an option or innovation but an essential business step for future proofing businesses and building resilience in their operations,” added Minister of State for Business, Employment and Retail Damien English, TD.