The Western Development Commission says its investments have leveraged an additional €250m for portfolio companies, with a realised acquisition value of over €500 million.
The Commission has confirmed it has approved investments of almost €7 million across the region in 2019, supporting 44 businesses and community projects in Donegal, Sligo, Leitrim, Roscommon, Mayo, Galway and Clare.
The investments approved are across a wide range of high-tech sectors from artificial intelligence, fintech, medical devices, ICT as well as more traditional sectors such as food and tourism.
In Donegal, the fund supported Cerebreon Technologies, an enterprise software solution which uses image recognition technology and artificially intelligent algorithms to more accurately and efficiently carry out financial and administrative processes.
The fund has also approved bridging finance for Drumhome Heritage Society which promotes the development of local heritage sites which will enable locals and tourists alike explore the sites such as the Drumhome monastic site, the Ballymagroarty monastic site and McGonigles fort.
CEO of Western Development Commission Tomas O’ Siochan says this will help support businesses within the region.