Business Irish

Wednesday 18 October 2017

Bord Iascaigh Mhara launches new R&D fund

Minister Michael Creed and Jim O’Toole, CEO of Bord Iascaigh Mhara
Minister Michael Creed and Jim O’Toole, CEO of Bord Iascaigh Mhara
Ellie Donnelly

Ellie Donnelly

Bord Iascaigh Mhara, Ireland’s seafood development agency, has launched a new research and development fund to support Irish companies’ innovation in the seafood sector, and help grow the €850m industry in line with stated Government targets.

The Bord will provide an initial 100pc grant aid fund of €400,000 in 2017, which will go towards research and development to support innovation and the development of new technologies that are of benefit to the seafood sector.

Projects of up to €150,000 will be considered for the grant, and there is no limit to the number of companies that can apply for the funding.

The launch of the fund will take place to co-inside with the Bord hosting the West European Fish Technologists Association’s 47 annual conference in the Aviva stadium from the 9th to 12th October.

The international conference will bring together over 143 experts representing 50 of the top performing Irish and international seafood R&D institutes to discuss and gain insights into new innovative technologies to add further value to seafood businesses.

Representing 5pc of the total food and beverage exports, and with sales valued at €939m, the seafood sector has been ear-marked by Government as a key area for growth and investment.

Currently the sector employs approximately 11,000 people on a full-time, part-time, and seasonal basis.

"We will continue to work closely with producers and small and medium enterprises to encourage innovation within the sector with the goal of further cementing Ireland’s position as a market leader in the global seafood sector," Jim O’Toole, CEO of Bord Iascaigh Mhara, said.

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