Cork’s Tyndall National Institute generated €9.5m in funding in 2014 – including €7m from retained projects and €2.5m for Irish research partners – and generated 35 jobs out of the EU’s Horizon 2020 strategy.
In its annual report, Tyndall said it achieved an 18pc success rate in year one of the Horizon 2020 calls – which exceeds both the national average of 16pc and the EU average of 14.5pc.
2014 saw Tyndall establish new business development structures and expand the commercial team in order to deliver on its ambitious long-term commercial goals and quadruple the amount of revenue generated through industry partnerships.
“This has been a highly productive year for Tyndall,” said CEO Kieran Drain.
“If you look at our ability to secure and retain EU funding; our growing competencies in health, food and the environment sectors and our more focused commercial programme, you can see significant progress being made as we implement our strategic plan.”
New commercial and strategic direction for Tyndall
Led by Ultan O’Raghallaigh, who assumes the newly created role of commercial director, the Institute will specifically target the creation of Tyndall-based spinouts and the licensing of Tyndall technologies to Irish SMEs and major global industry partners.
This new commercial strategy will build on the institute’s prior record of success. In 2014, Tyndall enjoyed a high level of industry engagement, working with 63 companies located in Ireland, including Intel, Lake Region Medical, Boston Scientific, Stryker and X-Celeprint, and 34 overseas companies.
The Tyndall National Institute has also established a new office at The Digital Hub in Dublin, which will play a key role in helping Tyndall achieve its commercial and strategic goals.
“Tyndall’s establishment of new business development structures and focus on commercialisation, together with the creation of Tyndall-based spinouts and licensing of technologies to Irish SMEs and major global industry partners, fully reflects the Government’s strategic priorities in this area,” said Minister for Skills, Research and Innovation, Damien English TD.