Ibec welcomes approval of €1bn Grand Canal Innovation District Plan

Ibec, the group that represents Irish business, has today welcomed the Government’s decision to approve the development of the Grand Canal Innovation District - a national initiative, spearheaded by Trinity College Dublin in collaboration with other universities. Located in the heart of the city, the District will be a hub for innovation and excellence, world class university research facilities and a thriving start up ecosystem, with a university campus acting as a connector bringing all these different sectors together.

Ibec CEO Danny McCoy said: “The economic and population growth currently underway on the island of Ireland makes planning for the future now even more important. The scale of our growth is an enabling factor that will allow the island to compete for international business at a new level. “The economies that invest properly in their future will drive economic prosperity and job creation. Our ability, as a small open economy, to continue to attract investment and grow its own successful global businesses is more than ever linked to the amount of research that originates here.

“The effective retention of talent and skills are becoming more critical than ever before for companies that want to compete effectively domestically and internationally and those looking to scale-up their business. The ability of our education system to support this ambition is critical. The Innovation District will provide a major boost to Ireland’s innovation ecosystem, helping business and researchers to collaborate more effectively and underpin Ireland’s international reputation as a location of choice for mobile innovation activity.”