Enterprise Ireland-supported Food and Drink companies invested €166m in R&D in 2024

Pictured (from l-r) Elaine Bourke, Kepak, Peter Burke, TD, Jenny Melia, Enterprise Ireland, Tom Kearney, Spice O’Life, John O’Connell, West Cork Distillers

 

• 113 companies invested over €100,000 each in research and innovation
• The sector supports more than 60,000 high-quality jobs, accounting for 26% of EI-supported employment
• New figures announced today at Enterprise Ireland’s Food Innovation Summit in Croke Park
• Key themes this year include AI and digitalisation, sustainable product development, and innovation in health and nutrition

Enterprise Ireland is today hosting its flagship Food Innovation Summit 2025, bringing together more than 300 food and drink companies, start-ups, researchers, investors, and policymakers to explore how innovation and technology can future-proof Ireland’s food and drink export industry.

New figures released at the Summit show that Enterprise Ireland-supported food and drink companies invested more than €166 million in R&D in 2024, with 113 companies each investing over €100,000. 

Now in its third year, the Summit highlights that innovation is not only a competitive advantage, but a strategic necessity in the face of global disruption, sustainability pressures and evolving consumer expectations. The event aligns closely with Enterprise Ireland’s Strategy 2025–2029, and Food Vision 2030, which calls for privately funded R&D to reach 1% of turnover across the agri-food sector.

While global conditions remain volatile, Ireland’s food and drink industry continues to demonstrate resilience and adaptability. Strong export performance has been underpinned by a commitment to high quality and safe products, a flexible approach to change, and deep-rooted expertise across the supply chain.

This year’s programme reflects how technology is transforming the sector - from the rise of AI, precision fermentation and biotechnology, the impact of anti-obesity drugs to breakthroughs in personalised nutrition and smart manufacturing. The Summit showcases the depth of Ireland’s food innovation capability and the strength of its research ecosystem, while fostering greater collaboration and investment. 

Minister for Enterprise, Tourism and Employment, Peter Burke TD, said: “Our food and drink sector is one of the most globally recognised and respected parts of our economy. The Food Innovation Summit is about backing that reputation with investment, ambition, and vision. Innovation is the route to higher productivity, new market growth and long-term competitiveness. Government, industry and agencies all have a role to play – and the Summit is a powerful example of that collaboration in action.”

Minister for Agriculture, Food and the Marine, Martin Heydon TD, said: “Irish food and drink exports continue to go from strength to strength – but the landscape is changing fast. Consumers want more transparency, more sustainability, and more innovation. Events like today’s Summit are critical in supporting our producers, processors and exporters to stay ahead of those trends and continue to thrive globally.”

Jenny Melia, Executive Director and Incoming CEO, Enterprise Ireland, said: “Innovation isn’t a ‘nice to have’ – it’s a strategic imperative. The Food Innovation Summit is a platform to turn ambition into action - and to help more companies embed innovation into everything they do.”

She added: “Ireland has the capability and global reputation to lead in sustainable, high-value food production. But we must act with urgency - and continue supporting businesses to adopt new technologies, build partnerships and stay competitive on a global stage.”

Melia also highlighted the importance of collaboration across the ecosystem: “Agencies like Bord Bia, Teagasc, Bord Iascaigh Mhara, FSAI, Government departments and Ireland’s excellent third-level institutions and Food Technology Gateways and Centres all contribute enormously to the food innovation landscape. Their continued engagement is critical to success.”

Enterprise Ireland also plays a key role in supporting Food and Drink Foreign Direct Investment (FDI), helping international firms identify opportunities, build strategic partnerships, and connect with Ireland’s world-class research infrastructure.

Summit Highlights:

• Expert panels on precision fermentation, smart manufacturing, AI-driven food systems, consumer trust, personalised nutrition, and sustainability
• Innovation pitches from high-potential start-ups including Femme Biome, Mór Taste, Sirona Foods, and Positive Carbon
• Case studies from industry leaders such as Keogh’s, Lily O’Brien’s, Kepak, West Cork Distillers, Glenhaven Foods and Spice O'Life
• Keynote by Olympic modern pentathlete Natalia Coyle, exploring performance, nutrition, and innovation in elite sport - and what the food industry can learn from high-performance athletes

Ends

For further information or to RSVP, please contact:

Deirdre Geraghty, Press and Communications, Enterprise Ireland
086 603 1969
Deirdre.geraghty@enterprise-ireland.com

Notes to Editor

Event agenda here 

Speakers and bios here