A new €60m fund to be operated by Enterprise Ireland is to be aimed at small and medium-sized companies.
Called the Growth Fund, it will support investments in staff, equipment and technology in order to encourage new exports.
Eligible firms can receive €650,000 to support business plans which meet the scheme's criteria.
Feargal Ó Móráin of Enterprise Ireland said a workplace innovation fund, which is aimed at developing individual employees, would be included in the scheme.
ISME has welcomed news of the fund. 'Any initiative that will support innovation at the SME level and will help with our competitiveness is to be welcomed, ' commented ISME CEO Mark Fielding.
'SMEs, particularly those who are exporting, have been under constant competitive pressure for a number of years having severe difficulties in winning and maintaining a foothold in export markets,' he added.
