Preparing Ireland for the Economy of the Future

The government is taking steps to prepare the economy for the challenges and opportunities that the future will bring, including:

• a €25 million investment in the COVID Life Sciences Products Scheme to aid the research, development and production of medicinal products in Ireland that are used in the fight against COVID-19
• as part of the substantial investment in training and skills development, 19,000 places on the government's Skills to Compete programme will be provided to support people develop skills and attain qualifications for emerging growth sectors and occupations
• to help businesses adapt to the green economy, €10 million will be provided to support businessses businesses engaging in green research, development and innovation, capital investment, and capacity building, through the first phase of a new Green Enterprise Fund
• an increase of €10 million in funding for the Seed and Venture Capital sector through Enterprise Ireland as a top-up to existing funds and leveraging a combined additional pool of €55 million, as part of our commitment to innovation driven enterprises
• €10 million to support IDA promotional and marketing initiatives targeting job-rich FDI projects that will be an essential part of our economic recovery
• businesses will also be supported to develop their online presence through a further funding call of the Online Retail Scheme. €5.5 million through Enterprise Ireland and an expansion of the Online Trading Voucher Scheme from the Local Enterprise Offices €20 million
• a €20 million Brexit fund to help SMEs involved in exporting and importing with the UK and further afield to put in place the staff, software and IT systems to be ready for new customs arrangements from 1 January 2021
• the expansion of the Enterprise Ireland's €180 million Sustaining Enterprise Fund scheme to include direct grant support to viable businesses, in addition to equity and repayable advances