A new measure introduced by Enterprise Ireland aims to allow companies to respond more quickly to market opportunities and challenges, including those posed by Brexit.
The Agile Innovation Fund will give companies rapid access to innovation funding. It offers fast-track approval, a streamlined online application process and will allow companies to access up to 50% in support for product, process or service development projects with a total cost of up to €300,000.
One Irish company that has previously benefited from funding from Enterprise Ireland is Cartoon Saloon, which has now set up a joint venture with a Canadian filmworks company to provide animation services. Having benefitted itself from this funding, it has called on other companies to apply to the new Enterprise Ireland fund, reports Kilkenny People.
“In the context of Brexit, investment in Irish innovation will prove to be a key driver of global growth for Irish companies, helping them to diversify their product base, be competitive, and allow them to build their scale and reach into new markets,” commented Julie Sinnamon, Enterprise Ireland CEO. “Historically, Enterprise Ireland client companies who have received funding to build their innovation capability have seen tangible exponential growth in their global sales performance.”
“Enterprise innovation is a key differentiator in competitive markets and Enterprise Ireland’s Agile Innovation Fund will assist companies in their innovation agenda,” she added. “This fund will enable many Irish companies to respond quickly and effectively to the challenges posed for their business by Brexit.”
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