Enterprise Ireland-supported companies in the Food and Drink sector spent €165m on R&D activities in 2023

Pictured (l-r) Jenny Melia, Executive Director, Enterprise Ireland, Minister Peter Burke T.D, Margaret McArdle, Enterprise Ireland, Minister Charlie McConalogue T.D., Leo Clancy, CEO, Enterprise Ireland

• 123 food and drink companies spent €100,000 or more on R&D (Research and Development) activities in 2023
• Enterprise Ireland invested more than €10 million in High Potential Start Up (HPSU) companies operating in the Food and Drink sector over the past decade
• Figures announced at Enterprise Ireland’s Food Innovation Summit in Croke Park
• Emergence of AI and how technology is transforming food for all set to be a major focus of dedicated Food Innovation Summit
  
  Enterprise Ireland saw investment in R&D activities by companies it supports in the Food and Drink sector reach €165 million in 2023. 123 companies operating in the sector spent €100,000 or more on R&D activities in 2023. 

Over the past decade, Enterprise Ireland has invested more than €10 million in High Potential Start Up (HPSU) companies operating in the Food and Drink sector. In 2023, Enterprise Ireland invested in 15 emerging food and drink start-ups. 

The figures were announce as more than 400 senior leaders from the food and drink sector, innovation experts, policymakers and key stakeholders from across the research ecosystem attend Enterprise Ireland’s Food Innovation Summit, which is taking place today, 19 June, in Croke Park, Dublin. 

Returning for the second year in a row, the only dedicated Food Innovation Summit to take place in Ireland will turn the spotlight on the innovation capability within the Irish food and drink industry and the strength of Ireland’s research ecosystem. The event aims to further raise awareness of the role of innovation as a driver of growth and prosperity.

Minister for Enterprise, Trade and Employment, Peter Burke T.D., highlighted the economic impact of the food and drink industry and the role of innovation in driving growth in the sector. 

“Irish food and drink businesses are a significant contributor to Ireland's economy, supporting almost 60,000 high-quality jobs across every region in Ireland,” stated Minister Burke. “Innovation is essential to maintaining our competitive edge, and the Government is committed to supporting the sector to increase investment in innovation, digitalisation and sustainability so these food and drink businesses can continue to compete and win in global markets. The Food Innovation Summit provides an important platform to showcase Ireland’s leadership in food and drink innovation and a unique opportunity for businesses to network, collaborate, and advance their innovative capabilities.”

Minister for Agriculture, Food and the Marine, Charlie McConalogue, T.D said: 

“As home to world recognised agri-food research agencies coupled with a global reputation for food quality and safety, Ireland is well placed to lead out in meeting the dual imperatives of food production and environmental protection. I would like to thank Enterprise Ireland for organising this important event, highlighting the significant innovation capability and collaboration that is taking place across the Irish Food and Drink industry and for emphasising the strength of the food research ecosystem that we have here in Ireland.” 

Enterprise Ireland Chairman Michael Carey said:

“Innovation is the cornerstone of a sustainable and competitive food and drink industry in an increasingly competitive global market. The current levels of investment in R&D among Ireland’s food and drink industry provides a strong foundation to build on. However, increased investment in research and innovation by these companies is vital to strengthen productivity, improve both sales and margins, and accelerate the scaling journey. 

“Enterprise Ireland is here to support these companies on that journey. Today’s Food Innovation Summit aims to create a conversation with the Irish food and drink industry around how to increase and enhance levels of research and innovation and create solutions that will ensure the long-term viability and success of the sector.”

Panel discussions on the future of the sector, how technology is transforming food for all, scaling through innovation and market-driven innovation will take place throughout the day, with contributions from global leading Irish and Food FDI companies including Strong Roots, Flahavans, Kerry Foods, retail/ food service buyers, and key stakeholders including Teagasc, Bord Bia and Bord Iascaigh Mhara.

“It’s important to acknowledge the remarkable support provided by key Government departments and partners including Bord Bia, Teagasc, Bord Iascaigh Mhara, the Department of Enterprise, Trade and Employment, the Department of Agriculture, Food and the Marine, as well as our excellent third level institutes, Food Technology Centres and the Food Technology Gateways,” Mr Carey added. 

The Food Innovation Summit will also provide a launchpad for exciting new Irish food and drink start-ups. These innovators will share their journeys of bringing disruptive ideas to market, focusing on personalised nutrition, the circular economy, sports nutrition, and functional beverages.

Enterprise Ireland also has responsibility for Food and Drink Foreign Direct Investment (FDI) recognising the connected nature of the food supply chain in Ireland and the specialist skills that exist within the agency to deliver value to this important cohort of Irish based businesses. With a vast network of connections, Enterprise Ireland helps investors to identify investment opportunities, develop manufacturing & R&D centres as well as facilitating strategic partnerships, access to local suppliers, service providers, and research institutions.  

The event will also shine a light on the strength of Ireland’s food research ecosystem and the innovation capability within the sector. 20 representatives of the ecosystem including Food technology Centres, Food Gateway centres and other associated institutes will showcase their areas of expertise as well as building their connection to the industry.  

ENDS

For information, please contact: press@enterprise-ireland.com

Notes to Editor

• Food and drink companies account for 27% of total employment in Enterprise Ireland-supported companies. In 2023, 59,458 people were employed in companies that Enterprise Ireland supports in the Food sector – an increase of 3% on 2022 figures.