Ireland 2040 Funds Announced
Rural Regeneration and Development Fund
€315m to be allocated 2019-2022
As part of Project Ireland 2040, the Government has committed to providing an additional €1 billion for a new Rural Regeneration and Development Fund (“the Fund”) over the period 2019 to 2027.
Initial funding of €315 million is being allocated to the Fund on a phased basis over the period 2019 to 2022.
The Fund will provide investment to support rural renewal for suitable projects in towns and villages with a population of less than 10,000, and outlying areas. It will be administered by the Department of Rural and Community Development.
The new Fund provides an unprecedented opportunity to support the revitalisation of rural Ireland, to make a significant and sustainable impact on rural communities, and to address de-population in small rural towns, villages and rural areas. It will be a key instrument to support the objectives of the National Planning Framework, and in particular to achieve Strengthened Rural Economies and Communities – one of the National Strategic Outcomes of the NPF.
The scheme is currently open to two categories of Proposals:
• Category 1: “Ready-to-Go” proposals, or initial phases of projects which can be commenced in 2019, which have the necessary consents (e.g. planning) in place, are at an advanced stage of design and are procurement-ready; or
• Category 2: Proposals that have clear potential and quantifiable objectives but require further development to enable them to be submitted as Category 1 proposals in subsequent funding calls.
The completed application form, along with necessary supporting documentation, must be submitted before 12 midday on 27 September 2018, to the Department of Rural and Community Development at: email@example.com
Urban Regeneration and Development Fund (URDF)
€550m to be allocated 2019-2022 (€100m in 2019)
The Urban Regeneration and Development Fund is intended to drive regeneration and rejuvenation of strategic and under-utilised areas within Ireland’s five cities, key regional drivers and other large towns. The Department of Housing, Planning and Local Government (DHPLG) has responsibility for implementing the fund, which has €100m available for expenditure in 2019 and an overall allocation of €550 million allocated to the fund up to the end of 2022. The fund will operate on a competitive, bid-based Exchequer grant basis, with proposals being required to demonstrate that they will be:
• Innovative and transformational urban regeneration projects;
• Public-sector led and with the option of community and/or private sector partners;
• Matched by at least 25% direct funding from other public and/or private sources;
• A minimum bid of €2m;
• A catalyst for development that would not otherwise occur; and
• Likely to leverage significant further public and private sector investment.
What type of projects will be eligible under the fund?
Types of projects eligible for funding will include, but are not limited to, the acquisition, enabling and/or development of areas, sites and buildings, relocation of uses, public amenity works, community facilities, and infrastructure related to housing, economic or skills development (including enterprise and tourism), transport, services infrastructure and/or transition to a low carbon and climate resilient society, in an urban context. Types of areas eligible for funding may include those that include a concentration of low-intensity uses, such as storage depots or warehousing, under-utilised ‘backlands’ behind streets and buildings, or institutional sites that are suitable for re-development, as part of an overall regeneration proposal.
How will the fund operate?
The fund will operate on the basis of a scheme that will invite competitive bids from public bodies, which may be in the form of a consortium and may also include private sector and/or community/voluntary sector representation. Bid proposals must be co-funded and will require a minimum 25% stakeholder contribution. Bids must also demonstrate a further requirement for 100% (euro-for-euro) leveraging of committed wider private sector investment (i.e. development) arising from fund expenditure.
The initial call is open to two categories of bids:
A) ‘Ready-to-go’ proposals that can be initiated in 2019 (consents, design etc. advanced or in place, therefore procurement ready), or
B) Proposals that require further development and, subject to this, may be initiated in 2019 or in subsequent years. (Category B proposals that require further development may be approved in principle for technical assistance, in order to create a pipeline of future projects.)
The application form should be completed by the Lead Partner and returned by e-mail to URDF@housing.gov.ie by 12 midday Friday 28 September 2018.
Disruptive Technologies Innovation Fund
€180m to be allocated 2019-2022
The Department of Business, Enterprise and Innovation is inviting Expressions of Interest from consortia wishing to apply for funding under the Government’s new Disruptive Technologies Innovation Fund. €500 million is available for co-funded projects involving enterprises and research partners over the period to 2027.
The first Call relates to projects that will be funded from 2019. Projects can be funded for up to 3 years. It is envisaged that the first tranche of successful projects will be confirmed by November 2018.
All applicants must complete and submit the Expression of Interest Form by email only to firstname.lastname@example.org by 15.00 on 17 August 2018. Applicants will be invited to submit a full application in September (date to be announced).
Enterprises that are clients of the agencies can be funded up to 50% and public research institutions can be funded up to 100%. Minimum scale of funding sought is €1m over three years and projects of €5m-€10m are strongly encouraged. Feasibility studies may also be funded if recommended at up to 50%.
Each consortium must have at least one SME. The type of projects that will receive funding will be:
• Collaborative enterprise-driven partnerships that will develop, deploy and commercialise disruptive technologies to transform business
• Impactful projects seeking at least €1 million in funding over 3 years and involving enterprises and research partners
• Focussed on “industrial research”
What do we mean by Disruptive Technologies Innovation?
Disruptive technology is that which has the potential to significantly alter markets and their functioning and significantly alter the way that businesses operate. While it involves a new product or process, it can also involve the emergence of a new business model. Disruption is about the combination of technology and business model innovation.
Proposals are expected to address the development, deployment and commercialisation of one or more disruptive technologies to deliver new solutions through investment in the development and implementation of new products and services. Ultimately, the projects funded will create the jobs of the future.
Scope of the Call – Research Priority Areas 2018-2023
The Scope of the first call under the Disruptive Technologies Innovation Fund is informed by the Government-approved Research Priority Areas 2018-2023 and applications should align with these Research Priority Areas.
Climate Action Fund – €500m 2018-2027
As part of Project Ireland 2040, the National Development Plan 2018-2027 sets out the creation of a Climate Action Fund (the Fund) to support climate action projects which will leverage investment by public and private bodies. The Fund will have an allocation of at least €500m over the period to 2027.
On 29 May 2018, the Government agreed to establish the Fund. This includes the objective of funding initiatives that contribute to the achievement of Ireland’s climate and energy targets in a cost-effective manner. It also offers the potential for innovative interventions which, in the absence of support from the Fund, would not otherwise be developed.
In addition, the Fund will seek to facilitate projects that contribute to other Government policy priorities including to: support innovation and capacity building towards the development of climate change solutions capable of being scaled and delivering benefits beyond a once off impact; generate wider socio-economic benefits such as job creation, air quality improvements, reduction in fuel poverty, bio-diversity and community resilience and development; and leverage non-exchequer sourced investment.
In preparation for the Fund’s planned entry into force, this Call for Applications sets out the details that applicants will be required to submit. This will be the first such call and, as the Fund develops, further calls will be made. The scope and scale of projects that will be supported will vary to ensure the full objectives of the Fund are realised. This may include calls focussing on specific sectors (such as electricity, transport, heat or agriculture) or specific areas (such as capacity building, innovation or community participation).
What Projects Can Apply?
The focus of this Call for Applications is providing grant funding to larger scale projects (seeking total support in excess of €1m) that are scheduled to commence development in 2019 or 2020. Support will be provided to projects which, in the absence of support from the Fund, would not otherwise be developed.
The Climate Action Fund is planned to have a wide-ranging scope supporting projects that can contribute to Ireland’s climate and energy targets. As part of this Call for Applications, the types of projects that may be supported include:
• renewable energy projects;
• energy efficiency projects – including high-efficiency cogeneration;
• district heating projects;
• local infrastructure projects – including electric vehicle charging networks; and
• projects that go beyond required standards for environmental protection.
The level of support provided to any project as part of this Call for Applications will be limited by European Union state aid rules. Applications will be accepted in the period from 17 September 2018 (when the Fund enters into force) and 5pm on 1 October 2018.