Government Announces €85m fund to help SMEs embrace Digital Technology

Digital Technology

Government Announces €85m fund to help SMEs embrace Digital Technology

Announced in the 2022 Budget, the Digital Transition Fund aims to address the gap between digitally enabled firms and businesses with low levels of digital maturity.

The Digital Transition Fund will give grants to help businesses use new software, equipment, automation and AI, with €10m available for 2022. This €85m will fund businesses looking to use cutting-edge technology like artificial intelligence to improve how they make their products and services.

Grants will be given to eligible companies to use technology such as AI, cloud computing and big data to improve their products, processes, supply chains and services. The funding will cover new software, equipment and staff training.

Benefits of using Digital Technologies
  • can reduce costs for businesses by making processes like invoicing, stock management and supply chain logistics much more efficient
  • assist companies in staying competitive, resilient and productive
  • the use of digital technologies will assist companies in reducing their carbon footprint and helping to tackle climate change.

To support businesses going digital, a new website is being developed to help companies assess their needs and point them towards the next steps to embrace digital technology within their business. The fund will be administered by Enterprise Ireland, with €85m available between now and 2026 and €10m available in 2022.

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