PurOrigin, a new venture focused on designing and developing novel, energy efficient domestic appliances, has won the NovaUCD 2012 Start-Up Award.
In addition to the award PurOrigin was also presented with a €20,000 prize fund after being declared overall winner of University College Dublin’s 17th NovaUCD Campus Company Development Programme.
PurDry, PurOrigin’s initial product, is an energy-efficient clothes dryer designed to create a new niche in the tumble dryer market. PurOrigin is specifically targeting consumers in European and US markets.
PurOrigin’s promoters, Finbarr Maguire and David Ronan, have both just completed Masters of Engineering degrees in Energy Systems at the UCD School of Mechanical and Materials Engineering and will graduate in December.
PurDry has been designed to create a competitive advantage over conventional tumble dryers. PurDry requires no plumbing or installation; consumes less energy and has lower running costs; produces lower carbon dioxide emissions; is compact, lightweight, mobile and will be sold at a lower retail price in comparison with conventional tumble dryers.
In addition to the NovaUCD 2012 Start-Up Award, PurOrigin was presented with a cheque for €5,000 and will receive six-months free desk space at NovaUCD. In addition it will receive €6,000 worth of consultancy services from Deloitte; €3,000 worth of consultancy services from Arthur Cox; €1,500 worth of consultancy services from Aristo and €1,000 worth of financial services from Delaney Financial Consultancy and NewMarket Partnership. The AIB Seed Capital Fund will also provide an investor ready assessment of PurOrigin. PurOrigin will also receive a year’s free subscription to the AccountsIQ software which allows SMEs to manage their entire accounting requirements via the internet.
Over 190 new ventures and over 310 individuals have now completed the NovaUCD Campus Company Development Programme (CCDP), which is supported by Enterprise Ireland, and which has run annually since 1996.
TechCentral Reporters
Pictured (l-r): Finbarr Maguire and David Ronan
Subscribers 0
Fans 0
Followers 0
Followers