The Regional Enterprise Development Fund (REDF) has opened for a new round of funding, Senator Maura Hopkins has said.

“My colleague, the Minister for Business, Enterprise and Innovation, Heather Humphreys T.D., has informed me that she is making an additional €45m available under the third round of this fund. It is open for applications until September 29, with a decision to be made by the end of the year.”

“This fund is focussed on supporting regional enterprise projects which have a positive impact. Under a competitive process, applications are now sought for funding under three streams with varying investment levels.”

“These are:

– Strategic Change Projects – to support major collaborative initiatives with high impact on regional development with funding up to €5m per project

– Regional Strengthening Projects – designed to stimulate new local community based or regional initiatives to address identified gaps in the enterprise ecosystem with funding up to €500k per project.

– Enterprise Clustering Projects – the scheme is designed to stimulate enterprise clustering and support the further growth of established industry clusters regionally; by sector and nationally with funding up to €350k per project.”

Senator Hopkins continued, “To support the development of these projects, the Minister also launched a Feasibility Fund of up to €15,000 per eligible project. This is intended to support projects to develop and submit high calibre applications for Strategic Change and Regional Strengthening Projects.”

“Collaboration is central to the Fund. It encourages regional stakeholders, both public and private sector, to work together and bring forward initiatives that build on the existing opportunities within a region.”

Senator Hopkins concluded, “Roscommon and Galway is strategically located within the wider region. I would encourage interested groups to consider applying for funding.”