The government wants an 'innovation district' to be developed in Dublin so the city will be more like Boston, Barcelona and Paris
A REPORT PUBLISHED by the government today has made a series of recommendations for the development of the so-called ‘Grand Canal Innovation District’ in Dublin city.Over the next decade Trinity College Dublin is due develop a new campus site adjacent to Grand Canal Quay that will serve as the centre of the district. The government is due to commit €150 million towards the total expected cost of capital of €1.1 billion.
An innovation district is an urban location comprising research-oriented institutions and companies ranging from startups, SMEs and large corporations. Notable examples include Kendall Square in Boston, 22@ in Barcelona and Station F in Paris. It notes that establishing an innovation district could “help position Ireland for future investment in an unsettled post-Brexit environment”.An economic cost benefit analysis, carried out by Indecon on behalf of Trinity College Dublin, calculated total economic benefit of €3.2 billion from the development of the proposed innovation campus at the centre of the district.
“These districts demonstrate high concentrations of workers in the knowledge economy and are drivers of new discoveries and patents.
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