Last chance to apply for €45m regional enterprise fund

This Wednesday (25 September) is the final deadline for Call 3 of the Regional Enterprise Development Fund (REDF) with funding of €45m up for grabs.

The Call 3 was issued in September and coincided with Enterprise Ireland publishing its regional plan for growth entitled ‘Powering the Regions.’

“This Fund is about creating sustainable jobs in the regions”

REDF is an initiative of the Government under Project Ireland 2040 and aligns with the Department’s Future Jobs Ireland plan. The successful projects will be announced before the end of the year.

Under the plan Strategic Change Projects will receive funding of up to €5m per project.

Regional Strengthening Projects, which are designed to stimulate new local community or regional initiatives to address gaps into enterprise ecosystem, will receive funding of up to €500,000 per projects.

Also, under the strategy, Enterprise Clustering Projects, to support the growth of established industry clusters regionally by sector and nationally, will receive funding of up to €350,000 per project.

Regional impact

“This Fund is about creating sustainable jobs in the regions,” the Minister for Business, Enterprise and Innovation Heather Humphreys, TD, said at the launch of the third call at Cavan Digital Hub in June. “It’s different to other initiatives because it supports projects with regional impact, rather than having a county level focus.

“Collaboration is central to the Fund. It encourages regional stakeholders, both public and private sector, to work together and bring forward initiatives that build on each region’s strengths, whether that’s food, pharma, the bioeconomy or anything else.

“Crucially, the Fund will help build Brexit resilience and supports the vision of the nine new Regional Enterprise Plans, which I launched earlier this year. The Plans take a ‘ground up’ approach to maximise business development and job creation in every part of the country.”

Irish landscape image: lukian025/Shutterstock

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Written by John Kennedy (john.kennedy3@boi.com)

Published: 23 September, 2019