Three enterprises share €4.6 million in funding
Three Galway projects have received a €4.6 million boost in funding as part of the Government’s Regional Enterprise Development Fund.
The Burren Lowlands, Páirc na Mara in Cill Chiaráin and the Galway City Innovation District are all to get a cut of just over €29 million in funding allocated to 21 projects nationally.
In Cill Chiaráin, €2 million has been allocated for the development of Páirc na Mara, a marine innovation development centre that has the potential to create up to 200 jobs in the area.
The centre will provide 1,800 square metres of “enterprise and incubation space for marine enterprises” – drawing on collaboration with regional stakeholders and higher education institutes.
The Burren Lowlands, set up to develop the region of South Galway and North Clare, has received just over €182,000 in funding.
The project, which has been running since 2014, promotes Gort and its hinterlands as a destination for tourists and a location open to investment, while nurturing community spirit as one of its greatest assets.
For the past four years, the project has successfully driven collaboration between the community and enterprise, seeking to secure employment in the region that was severely hit by the recession.
Galway City Innovation District, located at the PorterShed behind Ceannt Station, has been allocated almost €2.5 million in funding.
The money will be used to refurbish the district’s Stables building and construct three new floors for co-working and event space.
Welcoming the announcement, TD for Galway West, Hildegarde Naughton (FG) said the investment would expand and enhance the existing innovation district, and would support its forecasted creation of up to 3,500 jobs directly and indirectly by 2023.
“The Galway City Innovation District has been hugely important in fostering job creation, innovation and entrepreneurship in Galway and I am very pleased that the Government is in a position to continue its support in pursuing those aims.
“I have worked hard to secure that support and I will continue to do so because, ultimately, Galway will share in GCID’s success. It is an economic, entrepreneurial and technological engine at the heart of our city,” said Deputy Naughton.
This is the second round of funding as part of a €60 million allocation – with the Regional Enterprise Development Fund set to continue as part of Project Ireland 2040.
Announcing the successful applicants, Minister for Business, Enterprise and Innovation, Heather Humphreys said the fund was crucial to ensuring a more balanced recovery.
“The Regional Enterprise Fund is about supporting every region to build on its unique strengths and ultimately create sustainable jobs. Collaboration is at its core – among the public and private sectors, within and across the regions.
“The projects we are funding today are at the cutting edge of innovation. I am confident that they have the potential to make a real and lasting impact on the enterprise development at both a regional and national level,” commented Minister Humphreys.
Western Regional Director of Enterprise Ireland, Barry Egan, said there was strong interest in the fund and the three Galway projects were picked from a total of 77 applicants.
“The successful applicants represent a broad range of projects across a variety of sectors including food, agri-tech and life sciences.
“Our aim is to build on a strong regional ecosystem to include a variety of companies and sectoral clusters with best in class physical and digital infrastructure and appropriate research and technology capability,” said Mr Egan.