Galway to benefit from €10 million to promote local enterprise

Galway to benefit from €10 million to promote local enterprise

Just under €10 million has been awarded to support five projects in Galway which aim to promote the growth of jobs and enterprise in the region.

Galway was the largest beneficiary of €40 million in funding from the Regional Enterprise Development Fund announced by Minister for Business, Enterprise, and Innovation Heather Humphreys this week.

The third call for the fund is supporting 26 projects in regional areas which are meant to drive sustainable jobs creation.

Of the €9.61 million in funding for Galway, the single largest allocation is €4 million for Galway Technology Centre. This will go towards their Academy West programme to help budding tech companies.

This will involve the construction of a 23sq ft extension to the existing GTC complex which houses 41 companies

Creative Enterprise West has been allocated €2.7 million for an Incubation and Co-Working Space, while SCCUL Enterprises and the Portershed have both been awarded just over €1.2 million.

SCCUL will be spending its funding on a new Enterprise Hub, while the Portershed will be using the money to help fund its relocation from its current location behind Ceann Station to Bowling Green.

Finally Grow Remote will receive €449,442 for their project to help more people work remotely.

“The Irish economy has had a remarkable turnaround in recent years but we cannot rest on our laurels,” Minister Heather Humphreys said.

“Although we have made a lot of progress with six out of 10 jobs created outside Dublin since 2016, some parts of the country are not recovering as quickly as others.”

“The Regional Enterprise Development Fund is about supporting every region to build on its unique strengths and ultimately create sustainable jobs.”

The REDF was introduced in 2017, to co-finance the development and implementation of collaborative projects which can support local enterprises.

The successful projects were selected through a multi-stage evaluation process which included examining their impacts and value for money; collaboration and participation; viability and sustainability; building regional strengths; and significance for innovation.

“The projects we are funding today are at the cutting edge of innovation,” Minister Humphreys added.

“I am confident that they have the potential to make a real and lasting impact on enterprise development at both regional and national level.”

The funding announcement was made by the Minister as she officiated the end of year jobs creation results for IDA Ireland in 2019.

 

update: An earlier version of this article said the largest grant was to Galway City Innovation District, when it is in fact going to Galway Technology Centr.

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