Dublin-based Vimio has signed an agreement with Microsoft to license the software giant’s video-optimisation technology to strengthen its offerings in the world of mobile media distribution. The deal was signed under Microsoft’s Intellectual Property (IP) Ventures programme to facilitate product and business development for entrepreneurs and small to medium-sized enterprises (SMEs).
In January Enterprise Ireland (EI) became the first development agency in Europe to enter into a formal agreement with Microsoft’s IP Ventures programme to facilitate product and business development for entrepreneurs and SMEs.
Under the programme, Microsoft opens up internally developed technologies to government agencies such as EI, which in turn work with the local start-up and venture capital community to encourage business growth and deliver innovative technology to new markets.
“Working with governments and venture capitalists to get our innovation portfolio in the hands of entrepreneurs who can commercialise it is a win for all parties,” said Jean-Philippe Courtois, president of Microsoft International. “The new business relationship with Vimio will yield new innovations for the European and the global markets.”
The Microsoft IP Ventures programme connects entrepreneurs with innovative technologies developed as part of Microsoft’s multi-billion-dollar annual investment in research and development. Through the programme, new companies and economic development organisations gain access to Microsoft Research technologies and, in alliance with investment firms, commercialise the technology.
Currently more than 30 technologies are available for licensing through IP Ventures and several companies globally have collaborated with Microsoft to license technology and launch new products in fields as diverse as predictive traffic, digital photography and editing, collaborative agent technology and wireless communications.
The news was welcomed by the Minister for European Affairs Noel Treacy TD who said: “The announcement of a licensing agreement between Microsoft IP Ventures and Dublin company Vimio is a major achievement. Such collaborations will allow Irish companies access global markets and bring new technologies to market much quicker than they could ordinarily and I look forward to seeing more ventures of a similar nature.”
By John Kennedy