EC reveals eight Irish SMEs set for multimillion-euro windfall

9 Jun 20201.41k Views

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Eight Irish SMEs are set to receive between €1.2m and €2.5m in EU funding to help tackle the Covid-19 pandemic or support recovery.

The European Commission (EC) has announced that 72 companies will receive a total of €314m under Horizon 2020 funding to further develop their technologies and innovations to tackle the Covid-19 pandemic or support recovery in Europe. This includes eight Irish SMEs.

Through the European Innovation Council (EIC) Accelerator Pilot, 36 companies, including five Irish SMEs, will receive funding of between €1.2m and €2.5m for coronavirus-related projects.

Additionally, another 36 companies, including three more Irish SMEs, will receive funding of between €1.8m and €2.5m to contribute to the recovery plan for Europe.

The EC said that a further 139 companies looking at tackling the coronavirus – including six Irish SMEs – that could not receive funding in this round due to budget limitations will receive a Covid-19 Seal of Excellence. This, it said, is in recognition of the value of their proposals and will help them attract support from other funding sources.

Of the eight Irish companies to receive funding in total, seven are Enterprise Ireland client companies.

Speaking of their success, Enterprise Ireland’s national director for Horizon 2020, Garrett Murray, said: “[This] announcement is a great success for Ireland and is testament to the research and innovation capability of Irish companies and the vibrancy of the Irish high-potential start-up and commercialisation eco-system.

“To date, Irish companies and researchers have been awarded in excess of €907m in funding under Horizon 2020. There continues to be many opportunities for Irish enterprises and researchers under the EIC and across the Horizon 2020 programme, including calls for proposals under the European Green Deal, worth circa €1bn, that will be issued in the autumn.”

Joan FitzPatrick, CEO of funding recipient Kite Medical, said that in addition to helping the development of its non-invasive medical device, the funding will allow the SME to hire for six new roles in technical, quality, regulatory and clinical areas.

The eight SMEs in Ireland receiving funding are:

Exvastat, Co Dublin
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Exvastat is to receive a grant for Impentri, a pharmacotherapy for acute respiratory distress syndrome to lower mortality and improve quality of life of patients.

SiriusXT, Co Dublin

SiriusXT is to receive blended finance (both grant and equity support) for Licent, a lab instrument for cell nano-tomography.

Remedy Biologics, Co Dublin

Remedy Biologics is to receive blended finance for its Rapid Covid-19 Passive Therapy Response platform.

Aquila Bioscience, Co Galway

Aquila Bioscience is to receive a grant for ABwipe, a bio-decontamination technology for non-toxic removal of biological agents, including the coronavirus.

Kastus Technologies, Co Dublin

Kastus Technologies is to receive a grant for its Spyglass project, an antimicrobial coating for the protection of glass surfaces that is designed to tackle the emergent crisis of resistant microbes and viruses.

Kite Medical, Co Galway

Kite Medical is to receive a grant for its non-invasive device to detect kidney reflux in children.

Provizio, Co Limerick

Provizio is to receive a grant for its Accident Prevention Technology platform.

OneProjects Design Innovation, Co Dublin

OneProjects Design Innovation is to receive a grant for the development and clinical validation of its smart device to provide real-time ablation and tissue analysis through advanced 4D imaging.

Updated, 12.30pm, 9 June 2020: This article was updated to clarify that not all of the EC funding was for coronavirus-related projects.

Colm Gorey is a senior journalist with Siliconrepublic.com

editorial@siliconrepublic.com