Key Takeaways
- Significant Funding for Entrepreneurship: Minister Simon Coveney has announced a €7 million investment in a new program delivered by UCD and Teagasc focused on food and agriculture innovation.
- Innovation and Job Creation: The Food and Agriculture Sustainable Technology Innovation Programme (FAST-IP) aims to nurture innovation, establishing high-potential start-ups and job creation in the sector.
- Strategic Partnership: This initiative is part of Enterprise Ireland’s Innovators’ Initiative and receives support from the European Regional Development Fund and the Department of Enterprise, Trade and Employment.
- Educational and Practical Focus: FAST-IP offers a Graduate Diploma in Agricultural Innovation and Entrepreneurship, emphasizing design-thinking and practical experiences in agriculture.
- Enhancement of the Agri-food Sector: The program intends to bolster resilience and innovation within the agri-food sector, contributing to the growth of start-ups with global potential and job creation across Ireland.
Ireland Invests €7 Million in Food and Agriculture Entrepreneurship Programme FAST-IP
Programme Launch and Objectives
The Irish Government, through Minister for Enterprise, Trade, and Employment Simon Coveney TD, has unveiled a €7 million initiative to foster innovation and entrepreneurship within the food and agriculture sectors. This investment, allocated over six years to University College Dublin (UCD) in collaboration with Teagasc, will support the Food and Agriculture Sustainable Technology Innovation Programme (FAST-IP).
FAST-IP's Mission
FAST-IP seeks to elevate innovation knowledge in the food and agriculture sector, ultimately facilitating the creation of high-potential start-ups (HPSUs) and new employment opportunities. The program is strategically placed within Enterprise Ireland’s Innovators’ Initiative and benefits from co-funding by the European Regional Development Fund (ERDF) and the Department of Enterprise, Trade, and Employment.
Program Details
Set to commence in September 2024, FAST-IP will be hosted at the AgTechUCD Innovation Centre. It will focus on providing participants with practical, immersive experiences in agricultural settings. Each year, 15 mid-career professionals will embark on a 12-month journey to earn a Graduate Diploma in Agricultural Innovation and Entrepreneurship, accredited by UCD at Level 9 on the National Qualifications Framework.
Government and Institutional Perspectives
Minister Coveney supported the initiative: “I am delighted to launch UCD and Teagasc’s Food and Agriculture Sustainable Technology Innovation Programme (FAST-IP) under the Enterprise Ireland Innovators’ Initiative. Ireland’s Sustainable Food and AgTech industry is a key contributor to our economy, and this program is poised to further enhance innovation in the sector.”
Gary Ryan, Director of AgTechUCD, highlighted the program's aims: “The key objective of FAST-IP is to create a pipeline of commercialization fund applications and an increase in the number of HPSUs in the sustainable food systems and AgTech sectors.”
Dr. Siobhán Jordan, Head of Technology Transfer and Commercialisation at Teagasc, linked FAST-IP to broader national goals: “Through the program, participants will have access to state-of-the-art agri-food immersive environments…supporting Ireland's ambition to become a world leader in sustainable food systems.”
Further information is available via https://www.ucd.ie/innovation/fast-ip/
