New €85m Digital Transition Fund for Businesses

June 20, 2022
New €85m Digital Transition Fund for Businesses
The Government has announced a new €85 million digital transition fund that will provide grant aid for businesses.

The Government has announced a new €85 million digital transition fund that will provide grant aid for businesses.

The funding is designed to help companies develop new digital products, processes and services and will allow them invest in software, new equipment, staff training, automation and Artificial Intelligence (AI).

€85 million in funding will be made available between now and 2026, with €10 million available in 2022.

The fund will be administered by Enterprise Ireland and will be used to help companies access digital technology like AI, cloud computing and big data to improve their products, processes, supply chains and services.

The funding is designed to help companies at all stages of their digital journey and a new website is being developed which will allow businesses assess what their needs are and provide advice on next steps.

“Our lives are only going to become more integrated with digital technology and that is why we need to make sure our SMEs are prepared,” said Tánaiste and Minister for Trade, Enterprise and Employment Leo Varadkar.

“This €85m will fund businesses looking to use cutting edge technology like artificial intelligence to improve how they make their products and services,” he added.

As part of the initiative, Minister of State for Trade Promotion, Digital and Company Regulation Robert Troy will host a series of “Grow Digital” workshops in regional locations from the end of June and throughout July.