Government announces new digital fund for businesses

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The government has announced a new digital transition fund of 85 million euros which will provide non-refundable aid to businesses.

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

€85 million of funding will be made available by 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 businesses at all stages of their digital journey and a new website is being developed which will allow businesses to assess their needs and provide guidance on next steps.

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

“These 85 million euros will fund companies looking to use advanced technologies like artificial intelligence to improve the way they manufacture their products and services,” he added.

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

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