The creation of the proposed new “Grand Canal Innovation District” would be a real statement of intent regarding Ireland’s desire to be a world leader in R&D and entrepreneurship, according to Dublin Chamber.

The Chamber, which represents 1,300 companies in the Greater Dublin Area, was reacting to the publication today of a new Government report which recommends the development of the Grand Canal Innovation District. The report also recommends that the Government should help fund the project.

The Chamber said the government’s backing is hugely important for a project which promises to take Dublin’s innovation offering to the next level.

According to Dublin Chamber’s Head of Communications Graeme McQueen: “The Grand Canal Innovation District is a hugely exciting project for Dublin. Developing a dedicated innovation district is a real statement of intent in terms of Ireland’s desire to be a world leader when it comes to R&D and entrepreneurship. We look forward to the district establishing itself an area where businesses, researchers and academics can collaborate to identify and nurture new products and services for decades to come.”

Mr McQueen said: “Developing the Innovation District is a potential game-changer for both Dublin and Ireland in terms of the country’s ability to nurture innovation, develop talent and to cement its position as a top tier location for foreign direct investment. Dublin has already established itself as a great place for R&D activity and innovation, but the city cannot afford to stand still. Our competitor cities overseas are all working to improve their offering and we must do the same here in Ireland. The government working together with the education sector, businesses and the local communities on this project is a positive step forward. We look forward to seeing this project coming to fruition over the coming years.”