Deadline approaches for €500m tech fund

The Disruptive Technologies Innovation Fund is a €500m fund established under Project Ireland 2040. The deadline is 10 February 2022.

Innovative tech businesses across Ireland have close to two weeks left to apply for the €500m Disruptive Technologies Fund (DTIF).

The fund is managed by the Department of Enterprise, Trade and Employment and administered by Enterprise Ireland.

“Innovative SMEs are acknowledged globally as a driving force for introducing disruption to the market and I believe Irish SMEs are world-leading”

The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar, together with the Minister for Further and Higher Education, Research, Innovation and Science, Simon Harris, launched the fourth Call for applications to the Disruptive Technologies Innovation Fund (DTIF) in November.

DTIF Call 4 is about funding collaborations that demonstrate technology-based disruptive innovation, collaborations that can alter markets, alter the way business operates and that involve new products or the emergence of new business models.

“The Irish industrial sector has faced huge challenges over the last few years,” said Enterprise Ireland CEO Leo Clancy when the new fund was announced.

“The impacts from Brexit and the pandemic have required enterprises to adapt to new ways of doing business and devise unique solutions to ensure that they can survive. It is this spirit of entrepreneurship and innovation that we are looking to harness through the Disruptive Technologies Innovation Fund.

“Innovative SMEs are acknowledged globally as a driving force for introducing disruption to the market and I believe Irish SMEs are world-leading. These great companies are key to the success of the Fund and we want to continue to foster their creative talents and flair for innovation under call 4.

“It is notable and commendable that SMEs are leading in 60 of the 72 DTIF projects funded to date. An important factor in this level of engagement is the ability of progressive companies to identify and develop innovative collaborations with like-minded and complementary partners.

“I would like to see the Irish-owned enterprise sector take the lead role in the majority of DTIF applications again this year and continue to make a strong contribution to Ireland’s economic recovery, creating our future as a leading location for technology and innovation,” Clancy said.

How to apply for DTIF 4

Funding applications for Call 4 should be within the Research Priority Areas 2018-2023.

The fund is particularly interested in projects of scale with a strong enterprise agenda to harness maximum medium-term economic impact for Ireland.

Ideally, applications will be for enterprise-driven research and development challenges that can demonstrate commercial impacts within three to seven years of project completion. 

As with Call 3, each project must have three enterprise partners, at least one of which must be an SME. Research organisations (including colleges) can be a partner but can receive no more than 50% of the grant funding per project. All projects should be seeking minimum funding of €1.5m.

Please see the DTIF Call 4 Guide for Applicants on DTIF Call 4 documentation to learn more about applying for the Fund.

John Kennedy
Award-winning ThinkBusiness.ie editor John Kennedy is one of Ireland's most experienced business and technology journalists.

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