LIT has been awarded more than €1.5 million under Pillar 2 of the Human Capital Initiative.
The funding, announced by Minister of State for Higher Education Mary Mitchell O’Connor TD, will support 224 additional college places in six areas of key skills needs for the economy.
Welcoming the announcement President of LIT Professor Vincent Cunnane said, “Flexibility in responding to local industry and economic needs with work-ready graduates is among LIT’s core strengths. The allocation of €1,552,500 under the Government’s Human Capital Initiative is further recognition of this.
“The funding will be used to provide 224 additional full-time undergraduate places across six new courses in identified key areas of enterprise skills needs.”
Announced as part of Budget 2019, the primary objective of the Human Capital Initiative (HCI) is to underpin the provision of additional capacity across the Higher Education Sector to meet priority skill needs for the enterprise.
The special fund totals €300 million over five years – €60m a year from 2020 to 2024. The finance is being provided from the surplus in the National Training Fund (NTF) in line with recommendations contained in the independent review of the NTF on the use of the surplus and the development of labour market skills.
The primary objective of the Human Capital Initiative is to fund additional capacity across the higher education sector and to use that investment to meet priority skill needs for the future.
Announcing the results of the call for additional places on undergraduate courses under Pillar 2 of the Human Capital Initiative, Minister Mitchell O’Connor said, “Our people are our greatest resource and our greatest competitive advantage.
Ensuring that young people are equipped with the right set of skills as they transition from education to the workforce is essential.
At the time of year when students are deciding which courses to select for their CAO applications, I am delighted to be able to announce almost 3,000 additional places on 138 courses over the next two years.
Courses included those in the areas of environmental sciences, ICT and engineering, allowing more students to take up places on courses that address key skills needs for the economy and the future.”
The Minister also announced the opening of the Call for Proposals under Pillar 3 of the HCI. This pillar focuses on two key areas – innovation in modes and methods of delivery and an agility fund.
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