Funding has been announced by Government to support the development of potential innovative regional enterprise projects based in Waterford under the Regional Enterprise Innovation Scoping Scheme (REISS), Fine Gael Senator John Cummins has said
Senator John Cummins welcomed the news from the Minister for Business, Employment and Retail, Damien English TD, that 47 projects nationwide have been approved for a total of €3.5m in grant support, including here in Waterford.
Senator Cummins said: “Many of our excellent local businesses and entrepreneurs in Waterford will be in a position to significantly benefit from the outcomes of this targeted support which is aligned to the objectives of the nine new Regional Enterprise Plans that were launched earlier this year.
“Across Ireland, 15 enterprise development projects have been provided with REISS Priming grants of up to €200,000, while 32 projects have been approved for REISS Feasibility Study grants of up to €50,000 each. I am delighted to see that projects proposed by Youth East Economic Development Office, Incupharm, Threed, South East Development Office, South East Technological University and Waterford City & County Council are being funded by government at this time”.
“This funding promotes innovation within the Irish enterprise ecosystem and will encourage a greater contribution to local economies and entrepreneurial activity, productivity and innovative capability” Senator Cummins concluded.
Minister English said: “Government is focused on working hard to provide businesses and their talented people with targeted supports to sustain regional enterprise and job creation opportunities across every region in Ireland. The REISS scheme is a crucial part of that approach as we plan for the future by providing resources to early-stage projects to develop and advance their current plans to a stage where they can make real progress.
“Strengthening the links between our education system and innovative local businesses is an important strategy in our nine Regional Economic Plans and we grasp new opportunities and tackle long-term challenges such as our new trading relationship with the UK and the transition to a low-carbon economy”, concluded Minister English.