SETU gets €1.9m cash injection for microscale manufacturing lab
SETU has been awarded €1.9 million in funding to develop the lab
South East Technological University (SETU) in Waterford has been awarded €1.9m to develop a microscale manufacturing laboratory.
This funding comes under the latest round of the Capital Equipment Call, administered by Enterprise Ireland through the Technology Gateway and EI/IDA Technology Centre Programmes.
The news was welcomed by Waterford Fine Gael TD and Minister of State at the Department of Housing, John Cummins, who described it as exciting news and commented: "This funding not only showcases this Government’s commitment to growing SETU in Waterford but also its dedication to harnessing and attracting top talent to study and work in Waterford."
“It is vital that we continue to invest in our future,” he added.
The funding was announced on Thursday, February 6, by Fine Gael TD and Minister for Enterprise, Tourism & Employment Peter Burke.
Minister Cummins said it will help develop and grow the local talent pool so Waterford can continue to create an environment that can organically produce global businesses while also attracting investment and enterprise to the region.”
Ten successful projects from across the third-level sector have secured €12.1 million in funding to improve the capabilities of the existing Technology Gateways and EI/IDA Technology Centres by investing at a scale that allows them to bridge the gap between their existing capabilities and the state of the art.
With individual awards of up to €2 million available, Minister Cummins said the equipment funded through the measure will become an engine of economic development for local companies.
He said it will be of particular importance to Small and Medium Enterprises (SMEs) which could not afford to invest at this scale.
It’s expected the new equipment will particularly help companies develop new products and services in areas focusing on sustainability and manufacturing productivity.
“To be awarded just shy of the maximum grant displays the level of hard work those at SETU did to showcase the potential this lab could have for the South East,” said Minister Cummins.
“I’d like to thank all those involved and I look forward to seeing the impact this funding has on Waterford’s future,” he added.
