Waterford Fine Gael TD and Minister of State at the Department of Housing, John Cummins has welcomed the announcement this morning that SETU Waterford has been awarded €1.9 Million for a Microscale Manufacturing Lab.
This funding comes under the latest round of the Capital Equipment Call, administered by Enterprise Ireland through the Technology Gateway and EI/IDA Technology Centre Programmes.
Speaking on the announcement Minister Cummins said: “This is really exciting news for Waterford, this funding not only showcases this Government’s commitment to growing SETU in Waterford but also its dedication to harnessing and attracting top talent to study and work in Waterford.
“It is vital that we continue to invest in our future. Funding such as the one announced today by Minister for Enterprise, Tourism & Employment and Fine Gael TD Peter Burke will help develop and grow our talent pool so Waterford can continue to create an environment that can organically produce global businesses while also attracting investment and enterprise to the region.”
Ten successful projects from across the third-level sector have secured €12.1m in funding to improve the capabilities of the existing Technology Gateways and EI/IDA Technology Centres by investing at a scale that allows them to bridge the gap between their existing capabilities and the state of the art.
With individual awards of up to €2 million available, the equipment funded through this Call will become an engine of economic development for local companies, in particular Small and Medium Enterprises who could not afford to invest at this scale.
The new equipment will particularly help companies develop new products and services in areas focusing on Sustainability and Manufacturing Productivity.
Minister Cummins concluded: “To be awarded just shy of the maximum grant displays the level of hard work those at SETU did to showcase the potential this lab could have for the South East.
“I’d like to thank all those involved and I look forward to seeing the impact this funding has on Waterford’s future.”