Innovate Limerick has raised €200,000 through the Town and Village Renewal Scheme and seeks to develop an E-Hub - a central community space which will include high speed broadband, a co-working space, meeting rooms and a training room - to facilitate business start-ups and training.
The facility will also be connected to ENGINE ‘business development centres’ in Limerick city and Rathkeale when launched.
At the signing of the contact, Cllr Seamus Browne said the facility will create a ‘pathway to sustainable employment’ in Abbeyfeale and the surrounding areas.
UCC and Fexco are funding the project that sees researchers at the Cork University Business School (CUBS) explore three financial technology (Fintech) activities to help ‘create new knowledge’ that Fexco can use for rural development, training and job creation. The financial technology areas the researchers will focus on will be Treasury and Foreign exchange, Digital Taxation, and Corporate Asset Administration.
Denis McCarthy, CEO, Fexco, said: “Investment in research is key to developing and delivering the next generation of products, services and innovations.” He added that such innovations and breakthroughs in the fintech sector have been critical to the continued growth and development of the southwest of Ireland and of Fexco.