Government awards €65m to companies under new innovation fund
Enterprise Ireland will award €65 million in funding to 16 innovative projects as part of the Disruptive Technologies Innovation Fund. The sum will be shared among the projects.
As part of Project Ireland 2040, the fund will deliver €500 million to innovative technologies from 2018 to 2027. To date, €140 million has been awarded. The fund builds on the government’s Future Jobs Ireland initiative and aims to prepare businesses for the future.
The successful projects cover life sciences, medical devices, ICT, artificial intelligence, blockchain, manufacturing and environmental sustainability.
“This significant funding initiative is future proofing Ireland to ensure that we become leaders in the face of disruptive technologies,” said Julie Sinnamon, CEO, Enterprise Ireland. “The transformational nature of this fund will help to realise the ambitions of Irish companies and ensure Ireland’s growth is maximised. The collaborative focus marries expertise and innovative ideas with like-minded partners to ensure the future growth of enterprise in Ireland.”
The finalists include:
- Next Generation Heat Pump for Affordable Decarbonisation of Heating, led by Exergyn with Dublin City University and Fort Wayne Metals as partners.
- Sustainable Bio-Renewable Energy from Wastewater, led by NVP Energy with Ashleigh Environmental and National University of Ireland, Galway as partners.
- Point-of-care iron stores/Ferritin testing for at risk blood donors, women and children, led by Radisens Diagnostics with Irish Manufacturing Research, Poly Pico Technologies and Trinity College Dublin.
- Pharma Latch, a microneedle drug delivery platform, led by Latch Medical with Blueacre Technologies, TheraDep and University College Dublin as partners.
- Developing a tailored aerosol delivery technology for the treatment of chronic obstructive pulmonary disease, led by OmniSpirant with Aerogen and National University of Galway Centre for Cell Manufacturing Ireland as partners.
- Transpire, a trained AI Platform for Regulation, led by Corlytics with CeADAR UCD and Singlepoint Solutions as partners.
- Stroke-CIS, developing Clot Ingestion System, medical technology to treat stroke led by Perfuze Limited with Teleflex and VistaMed.
“These 16 projects will bring significant changes and benefits across all sectors of society, both at a national and a global level,” said Minister for Business, Enterprise & Innovation Heather Humphreys. “Ultimately, they will change how we work and live, enhance the competitiveness of the Irish economy and help us to create the jobs of the future.”