Minister announces €6m for the Capital Equipment Fund for third level institutes

Minister announces €6m for the Capital Equipment Fund for third level institutes

Minister for Business, Enterprise and Innovation, Heather Humphreys last week announced the successful applicants of the Capital Equipment Fund administered by Enterprise Ireland through the Technology Gateway Network Programme.

Forty three successful applicants from the Institutes of Technology (IoT) and TU Dublin have secured over €6 million in funding.

The Programme funds interactions between local and national industry and the Institutes of Technology and aims to increase the levels of interaction between the IoTs and industry in Ireland. The intended outcomes of the Programme include more companies engaging in R&D, pilot manufacturing capability for new product/process development, enhanced technology validation and testing capabilities, testbed generation and enhanced training potential for key industry staff on emerging technologies.

The €6 million fund will assist in buying capital that relates to new technologies such as augmented and virtual reality.

The winners were selected through a rigorous evaluation process based on eligibility criteria for the call which included, but was not limited to, a strong track record of industry engagement, a significant industrial need for the new equipment, and space to service and maintain the equipment according to international standards.

Speaking last week, Minister for Business, Enterprise and Innovation Heather Humphreys said, "Our aim is to build on our strong enterprise ecosystem from across the wide spectrum of academia, research and business communities. This fund directly supports projects that are emerging from the ground up. The successful applicants announced today are housing research projects and initiatives that are at the cutting edge of innovation and I am confident that they have the potential to make a real and lasting impact on enterprise development at both a regional and national level."

Technology Gateway Programme Manager at Enterprise Ireland, Mark Whelan added, "This funding allows our Technology Gateway the opportunity to purchase new technologies in areas such as augmented and virtual reality, mobile robotics and moulding. Successful applicants have a proven track record in industry engagement and the new equipment will assist in increasing their interaction with industry and add value to the SME sector in Ireland."

Source: www.businessworld.ie