Simon Harris TD today (20th July) launched a new €50 million fund to advance the strategic development of the technological sector.
The Technological Sector Advancement Fund (TSAF) is the successor to previous funds such as the HE Landscape Fund and the TU Fund (TUTF) which had particular emphasis on assisting former Institutes of Technology in becoming new Technological Universities (TUs).
Minister Harris said: “This new fund builds on significant investment in the technological sector. However, it is important to move past establishment phase to embedding the TUs in our regions.
“This fund will ensure there is no cliff edge in terms of support but critically, it will take these new Technological Universities to a different stage of their development.
“This fund will be about supporting TUs to fulfil their mission – to support the needs of individuals, business, and local communities. That is the next stage of our TU agenda and it is absolutely essential this funding is used to deliver for the regions they serve.”
The new fund, which will be managed by the Higher Education Authority (HEA), will make a contribution towards the costs of maintaining or initiating new activities that are central to an institution delivering on its mission and strategic plan.
Minister Harris said: “I am pleased to announce that the HEA is now formally inviting applications for funding, with a closing date of 19 October.”
A key objective of TSAF is to support institutions to mainstream activities commenced under previous funding streams dedicated to the transformation of the technological sector. TSAF will also make provision for initiatives relating to further landscape reform.
The HEA will conduct appraisal and notification processes in Q4 2023 with a view to grants being made in December with a formal commencement date of 1 January 2024. The TSAF will run until the end of June 2026.
Eligible Higher Education Institutions comprise the five Technological Universities and Dundalk Institute of Technology and Dun Laoghaire Institute of Art, Design and Technology that may apply for a grant contribution towards the costs of maintaining and mainstreaming existing activities or to initiate new activities that are of strategic importance to the success of the institution.
The fund will also make provision for initiatives relating to further landscape reform. Finally these higher education institutions may also make a combined application in relation to funding at a sectoral level and such applications are being actively encouraged.
Participation in a sectoral application for funding does not preclude an institution for applying for institutional-level funding across a number of categories including:
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Change management and integration,
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People and culture,
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Data and systems,
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Engagement,
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Students and
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System coherence, reform and consolidation.
Wexford Senator Malcolm Byrne has welcomed the announcement saying that this is another sign of commitment from government in Technological Universities across the country and here in SETU.
