€25 million euro of Ireland’s next-generation research, development and innovation investment to be set aside for Ireland’s digital economy
A €25m ($31m) investment to help boost digital technology across Ireland’s economy will be announced by the government on Wednesday, as part of its Digital Ireland strategy.
The move follows a €1.5m injection in the budget for the past two years to boost the sector.
Digital innovation is now a key pillar of the economy and has been identified as a key priority of the government.
Digital Ireland aims to create a digital economy in Ireland that will bring about significant benefits for businesses, society and the environment.
It will also be an opportunity to develop an innovative new generation of talent in the sector and to support the development of the Irish economy.
The digital economy is expected to generate $4.2bn in economic activity by 2026 and generate a total of more than $2bn a year for the economy.
It is estimated that €5.8bn will be generated by 2020 and €11bn in 2021.
In addition to the Digital Ireland investment, the government will also set aside €1bn for its new Digital Ireland Strategy and will create a €3.5bn digital infrastructure fund.
This will provide financial assistance for Ireland to continue to be competitive in the global digital economy.
“This is a fantastic opportunity for the future of digital innovation and I am delighted that the Government is committed to making this investment,” said Minister for the Digital Economy Richard Bruton.
“We have a strong foundation for digital innovation in Ireland and I hope that this investment will help us achieve our objectives of developing a digital Ireland that is ready for the digital future.”
The Digital Ireland initiative will see €20m invested in the research, innovation and technology sector in the coming years.
This investment will include €5m for the Irish Digital Innovation Network, which will be responsible for training, developing and supporting researchers and innovators to take part in digital innovation activities. Another €3m will be provided to support startups and small businesses, including an €11m seed fund for entrepreneurs, which has already been set up.
The Department of Innovation, Science and Innovation (DISE) will also invest €5 million in a €15m innovation fund to support a range of projects and initiatives that will enhance the competitiveness of the digital economy, and support the growth of the sector, and the country as a whole.
“The Government has made significant progress in the last decade in supporting the digital sector and we are pleased that we have now secured a significant investment in the digital industry,” said DISE Minister for Innovation, Innovation and Skills, Joan Burton.
“Digital innovation is an area that is growing in importance to Ireland, and this investment is the next step in the Government’s strategy to provide more opportunities for this sector and the economy as a result.”
We are also pleased that the DISE has taken an innovative approach to digital strategy and this will support the sector in its journey towards its digital future.
“There is a growing number of businesses and startups in Ireland seeking to be part of the next generation of digital technology and DISE’s innovative investment in this sector is another example of the Government providing a strong and supportive environment for this new generation.”
Digital Ireland’s Strategy 2020-2022 The Strategy 2020 to 2022 aims to support digital innovation by ensuring that the digital services and products available to consumers and businesses are accessible, relevant and timely.
It outlines the steps that the Minister of the Digital Environment is expected the Government will take to support new entrants in the economy, including ensuring the digital age of information is embraced by all, including small and medium enterprises, as well as fostering a digital culture and a digital future that is inclusive of all.
Digital Innovation Ireland will be part the Strategy 2020 and the Strategic Development Agency (SDA), which will help facilitate the growth and development of a digital Irish economy that is capable of contributing to economic growth.
Digital Economy Ireland is the largest and most ambitious digital economy development programme in the country.
It covers more than 100 sectors and aims to enable Ireland to achieve its objectives of global competitiveness, competitiveness, growth, and prosperity.
The government is also investing €6m in an Innovations Fund to help the sector to become more competitive globally.
The new funding will be made up of €5,000 for a new innovation and innovation-driven investment fund and €5 per job for the next 10 years, starting in 2020.
This is the second investment announced by DISE in the next two years.
In July, the Government announced that it had secured an investment of €6 million to support companies in Ireland’s new innovation space.
The Investment Corporation of Ireland (ICI), which administers the new investment fund, will also help to develop a Digital Ireland Strategic Investment Plan.
In November, the National Development and Reform Authority (NDRA) announced that a €4.6m fund for digital businesses had been set aside to help them grow and expand.
The funding will go towards supporting digital companies in their growth and