InterTradeIreland offers €11m to SMEs to help graduates gain skills

InterTradeIreland is making available €11m to SMEs on both sides of the border to take on graduates in an effort to boost innovation and skills.

The fund will be invested in 135 cross-border projects through the agency’s all island technology transfer programme known as Fusion.

The aim of the programme is to enable SMEs to hire graduates from a science, engineering, and technology background. The graduates gain access to industry skills in return for helping develop technologically innovative and commercially viable projects and services.

Speaking at a company visit to Fusion participant Realtime Technologies, Dublin, Minister for Jobs, Enterprise, and Innovation Richard Bruton welcomed InterTradeIreland’s investment.

“Central to our plans for jobs and growth is creating a powerful engine of indigenous enterprise,” said Mr Bruton. “This programme has the potential to make a major contribution to that, by providing SMEs with access to skilled workers in science, engineering and technology, and by helping graduates gain valuable skills.

“Developing strong indigenous engineering and technology companies will be central to our jobs recovery and the Fusion programme will make a real difference in that area.

“I am determined to build on this through Action Plan for Jobs 2013 to put in place further measures to build our indigenous enterprise base and help create the jobs we need.”

The graduates will be taken on for 12-18 months and will be able to pursue a fully funded postgraduate diploma in business and management.

More than 450 companies have already participated in the Fusion programme to date, with over 85% of graduates offered long-term employment with their host company after the initial phase of the project. On average, companies taking part benefit from over €1.2m in sales, efficiency saving and investments within 3 years of the project.

Commenting on the investment in Fusion, Thomas Hunter McGowan, CEO of InterTradeIreland, said: “We are encouraging SMEs to participate in the Fusion programme, to improve their productivity, increase their revenue potential and to create real jobs for graduates.

“Our further investment in 135 cross-border technology transfer projects is testament to the strength of this programme which delivers tangible outputs for SMEs. Through creating an innovation eco system North and South, we can offer SMEs the potential to externally source and connect with a wider variety of relevant expertise, while collaborating with graduates and universities to deliver product and service innovations.”

Companies can apply for the Fusion programme at www.intertradeireland.com/fusion