The government aims to make Ireland the technology capital of Europe. As you know, there are many multinational companies in the technology sector established in the country, such as Google, Facebook, Stripe, Twitter, LinkedIn and Huawei. There is a need to deepen the relationship with these companies and thus develop stronger links between them and the regions in which they reside.
To this purpose, the government has developed the ‘Grand Canal Innovation District’ (GCID) in Dublin City. This project will have its epicentre at Trinity College Dublin and will develop a new campus adjacent to the Grand Canal pier to serve as the district centre. The new district will include research-oriented institutions and companies, ranging from start-ups to SMEs to large corporations. It will be inspired by cities that have developed similar projects, such as 22@ in Barcelona, Kendall Square in Boston or Station F in Paris.
The plan is expected to be completed within 10 years. However, the activity will start this year 2020, with the opening of an innovation centre that will provide space for the first stages of start-up, companies active in research and a programme of activities dedicated to people living in the local community.
What will the new innovation district bring to Ireland?
The new district will be more than a business park, as it will house cultural institutions and community services, where everyone will want to spend time, socialize and innovate.
It will serve as a connection between businesses, research centres and venture capitalists. The sum of all the parts will promote the impulse of the economy, the internal investment and the creation of new jobs. Its benefits will be brought to the regions through virtual connections and the exchange of research, best practice and space.
So if you are thinking of investing in expanding your business, this is one more reason to set up your business in Ireland. At ISEA we can advise and help you to do this, contact us and ask for information.