A TOTAL OF €85 million will be allocated to a fund to “help business go digital”.
The Digital Transition Fund has been allocated funding of €85m until 2026, as part of Ireland’s National Recovery and Resilience Plan.
This year will see the release of €10 million of the fund and it will be administered by Enterprise Ireland.
The fund will be used to help companies use digital technology like AI, cloud computing and big data to improve their products, processes, supply chains and services.
It will also will help companies at all stages of their digital journey – from going online to using digital technologies to reach new markets and improve their productivity and competitiveness.
A new online website is also being developed to point companies towards their next steps to improve their offering through digital technology.
Preparing SMEs for digital
Announcing the funding, Tánaiste Leo Varadkar said “the trend is only going one way and our lives are only going to become more integrated with digital technology”.
As a result, he said “we need to make sure our SMEs are prepared” and the €85m will fund “businesses looking to use cutting edge technology to improve how they make their products and services”.
The Tánaiste added that “it will fund new equipment and software, staff training and expertise”.
Meanwhile, Minister of State for Trade Promotion, Digital and Company Regulation, Robert Troy said the “funding will support businesses at every stage of digitalisation journey” and assist companies in “staying competitive, resilient and productive”.
Minister Troy will host a series of Grow Digital workshops in regional locations from the end of June and throughout July.
Elsewhere, Minister of State for Business, Employment and Retail, Damien English TD said the fund will “improve efficiencies, drive growth, and create more job opportunities right across the country”.
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