Overview of the Regional Enterprise Development Fund
In February 2015, as part of an overarching strategy to support regional enterprise development, the Government announced a Regional Competitive Fund with the objective of supporting significant regional initiatives to build on sectoral strengths and/or to better leverage identified resources to improve enterprise capability. This is in line with the overall objectives of the Action Plan for Jobs: Regional initiative and national enterprise policy.
This regional competitive fund is designed to support the ambition, goals and implementation of the RAPJs. Enterprise Ireland with the support of DJEI is leading in the development and implementation of this Fund of up to €60m.
It is proposed to deliver this funding through two Scheme calls, the first call will fund projects under the Regional Enterprise Development Fund of up to €35m in grant support. The second call under this Scheme will fund projects from the remaining balance of the €60m budget available.
The overarching aim of this Scheme is to drive enterprise development and job creation in each region throughout Ireland.
The Scheme has four streams:
- Stream One to support major regional, multi-regional or national sectoral initiative grants of €2m up to €5m per project in funding towards capital and current costs. These initiatives should be focussed on achieving defined enterprise development outputs and impacts.
- Stream Two to support significant county, regional or multi-regional sectoral and or enterprise initiative grants of €250k up to €2m per project in funding towards capital and current costs. These projects should be focussed on delivery of defined enterprise development outputs and impacts.
- Stream Three for local and community enterprise initiative grants of €50k up to €250k per project in funding towards capital and current costs. These projects should be focussed at a local, county or regional initiatives that have defined metrics for enterprise development in the area.
- Stream Four to support significant Industry Clustering initiatives with grants of €50k up to €250k per project in funding towards current costs. These projects should support industry-led groups to maximise the benefits of collaborative opportunities where the results of the activity will have some identifiable and measurable impact on their business.
For full information click here: Enterprise Ireland Regional Enterprise Development