Minister Martin Declares €500m Research & Development Scheme Open

“Companies of all sizes urged to apply for R&D funding as a means to securing quality jobs, growing exports and increasing profits in an innovative economy”.

Minister for Enterprise, Trade and Employment, Micheál Martin, TD, has today (24th January 2008) launched a revised and simplified Research and Development Grant Scheme which will make €500m available to companies across all sectors.

The new scheme will see job creation agencies, Enterprise Ireland and IDA Ireland, invest more than €500m which will be used to support R&D and continue to 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 (2008-2013).

Announcing the Scheme Minister Martin said:

“This Government investment of over €500 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".

“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.”

“I want to take this opportunity to acknowledge and congratulate both Enterprise Ireland and IDA Ireland for the work they have put into this scheme,” concluded the Minister.

ENDS/1842

Notes to Editors:

The revised R&D grant scheme will facilitate more companies to undertake R&D activity, catering for R&D novices right up to R&D leaders.

For further information please contact:

Enterprise Ireland Press Office: 01 8082000

Department of Enterprise, Trade and Employment - Press Office Tel: 01- 6312200

IDA Press Office: 01 6034000