Innovation 2020, Ireland’s strategy for research and development, science and technology states that despite the importance of research and innovation for firms, firms under-invest in research. Therefore there is a strong case for the state to encourage firms to undertake research by providing co-investment. However, this investment must be targeted at areas of commercial opportunity that are strategically important. This is the underpinning rationale of Research Prioritisation (2018-2023), which identifies 6 Themes and 14 Priority Areas that present particular market opportunities for Ireland. The first goal of Harnessing Our Ocean Wealth is “A Thriving Maritime Economy”, which focuses on the marine opportunities to achieve economic recovery with socially inclusive and sustainable growth. The Development Task Force Report developed a strategic framework identifying three interventions to drive growth across five thematic areas and create economic growth opportunities for the marine sector. In May 2018, the Marine Institute launched the Industry-Led Call, designed to provide funding for SMEs to raise the maturity levels for their research theme across these three dimensions (human capacity, infrastructure and networks & relationships). The call aims to fulfil national strategic objectives as follows: National Marine Research and Innovation Strategy 2017-2021 - Implementation of Action 8 Increase opportunities for SMEs to participate in marine research. Innovation 2020 - Action point 2.4 Optimising Enterprise RDI Supports. The funding aims to: Support research and innovation costs for the development of innovative technologies, products and services from existing or new marine-based business. Help marine companies to develop capacity, capability and their networks & relationships. Support “novel” marine research that has not previously received funding to create new knowledge or a new product, process or service or to substantially improve existing products, processes or services.