AN announcement this morning confirmed the news that Waterford has received €264,702 in start-up and innovation funding. Arclabs Research and Innovation Centre were awarded €119,830, while the Waterford City Enterprise Centre and Dungarvan Enterprise Centre CLG were awarded €80,503 and €64,369 respectively.
Senator John Cummins welcomed the news, saying, “I would like to commend the teams at Arclabs, Dungarvan and Waterford City Enterprise Centres who are doing trojan work to ensure that their centres continue to offer cost competitive spaces where businesses can grow and expand.”
In Arclabs, the fund is already earmarked toward upgrading facilities and technology. Of particular importance are the video conferencing facilities, which are expected to experience a complete overhaul. Such facilities have afforded centres across the country the opportunity to continue networking since March.
Dr. Aisling O’Neill, Arclabs Manager responded to the announcement this morning, with positive affirmations for the future of entrepreneurship in Waterford city and county. “the work we do in Arclabs is focused around supporting entrepreneurship and that includes our current clients and our graduate clients. This award from Enterprise Ireland means we can continue our good work and ensure that Arclabs keeps supporting and building the entrepreneurial community in the South East region.”
The criteria for the funding meant the applicants needed to be able to prove that their operational costs over the next 12 months need funding support. Across Waterford, enterprise centres have been impacted heavily and this funding will promote a sustained projection into next year, with the potential to further develop the current business model in order to support the new wave of start-up companies in Waterford.
Julie Sinnamon, Chief Executive of Enterprise Ireland championed the work being done in enterprise centres, and in particular, how they have individually supported the strengthening eco-system of entreprenuerial infrastructure across the region.
The news, which was announced by Tánaiste Leo Varadkar this morning awarded grants of up to €150,000 to 95 enterprise centres across the country.