EI funding creates 18 start-ups in 2005-2007

4 Jun 2008

Enterprise Ireland funding kickstarted 18 new indigenous companies from 2005 to 2007, the State agency has said.

Enterprise Ireland has invested €275m in the third-level research and innovation system since 2000. During the three-year period 2005-2007, the third-level sector has produced 95 licences, 26 start-up companies and hundreds of patents and invention disclosures.

Some 18 of the start-up companies were a direct result of Enterprise Ireland funding applied research. During 2007, 136 patents were filed and 264 invention disclosures were made in Ireland by third-level researchers in Ireland.

“Enterprise Ireland’s strategy is concerned with transforming Irish industry though innovation and making Irish companies competitive in global markets. To do this we work with our partners in the researcher system to spin off as much technology as possible,” said Feargal O Morain, executive director, Enterprise Ireland.

“More innovative companies mean more opportunities for our young graduates and higher growth and prosperity for the economy as a whole.”

Enterprise Ireland is running a forum to assist third-level researchers commercialise their research on 18 June in Dublin. The Enterprise Ireland Applied Research Forum, entitled ‘From the Bench to the Boardroom – Commercialising Irish Research’, will be held in the Guinness Storehouse.

“As well as showing researchers what can be achieved with support from Enterprise Ireland, we want to ensure that companies are aware of the potential that exists for them within the third-level research community”, O Morain said.

By Niall Byrne