The Government, through Enterprise Ireland, expects to provide some €30 million over the next five years to progressive companies in the prepared consumer food sector through its R&D and growth funds, An Tánaiste Mary Coughlan announced this week.
Minister Coughlan and Minister for Agriculture, Fisheries, and Food, Brendan Smith this week launched Enterprise Ireland’s strategy for the accelerated growth and international development of Ireland’s prepared consumer foods industry.
“Working in partnership with the other State food development agencies including Bord Bia, BIM, and Teagasc, Enterprise Ireland has identified the prepared consumer foods sector as a key area of growth,” Minister Coughlan said at the launch. “Exports for this sector grew by six per cent to €1.8 billion last year with further growth anticipated this year. Irish companies such as Green Isle, Rye Valley, and Dawn Fresh Foods are already leading the way in the development of healthy, wholesome, and tasty convenience foods and the sector offers real opportunity for further success in the future.
“Through this strategy, Enterprise Ireland will work with companies to realise this sector’s full international growth and export potential.”
Minister Coughlan said the strategy aimed to enhance access to Enterprise Ireland’s R&D fund and growth funds, through which the group expects to allocate some €30 million to companies in this sector for R&D, innovation, and productivity improvement.
Minister Smith welcomed the commitment of Enterprise Ireland to the prepared consumer foods sector and urged Irish food companies to consider partnerships with other food companies and/or third level institutions.
“Industry led research partnerships will create research with commercial applications, and exploit the world leading food science research that is already taking place in our third level institutions and food research institutes,” he added.
According to Dick Lenehan, manager of Enterprise Ireland’s food division, the prepared consumer food sector is one of the most demanding sectors within the food and drink industry, driven by trends in health and well-being, convenience and quality.
“To remain internationally competitive, Irish prepared consumer foods companies continuously must offer new innovative added-value products in line with consumer and market trends,” he warned. “Enterprise Ireland is committed to helping progressive prepared consumer foods companies to build management capabilities, improve innovative capabilities, adopt industry best practice thereby enabling Irish food companies to become leading world class suppliers.”
