The €1.1 billion Grand Canal Innovation District will be developed in the heart of Dublin over the next 10 years
An innovation district in Dublin, Ireland, set to cost €1.1 billion, has been given the green light by government.
Ireland’s cabinet has accepted an advisory group’s recommendations for the development, which will connect multinational companies, academia, venture capitalists and business start-ups.
Construction on the Grand Canal Innovation District project could take up to 10 years, with work expected to start later this year.
The majority of the investment is expected to come from developers and a combination of grants and donations, spearheaded by Trinity College, which is one of the project’s leading advocates.
Over the course of construction, the district is expected to create up to 1,300 jobs.
Speaking about the report, Ireland’s Taoiseach, Leo Varadkar said, “We are really serious about making Ireland the tech capital of Europe.
“We have so many of the right ingredients; a young and talented workforce, a competitive corporate tax environment and of course many of the world’s top tech firms already have their European headquarters here.”