InterTradeIreland is investing up to €175,000 in five North/South company-to-company research and development (R&D) partnerships through its Innova programme.
Companies with innovative ideas, which have strong commercial potential and an R&D partner in place can apply for the funding by 4 June 2010.
Innova is a programme which supports companies across the island to accelerate new product, process or service developments through partnering with a company in the other jurisdiction.
As well as the financial support available, companies benefit from pooling their expertise and resources with another company anywhere on the island to bring their innovations to market faster than if they were working alone.
Through the programme, InterTradeIreland has already invested more than €5m to support collaborative R&D projects across the island.
Valentia Technologies and Intelesens recent Innova beneficiaries
Most recently, two companies that have already benefited from the Innova programme are Dublin-based tele-health software firm Valentia Technologies and medical devices company Intelesens in Belfast. Together, they have developed an innovative heart-monitoring device that is worn by a patient in the home to monitor vital life signs in real time and transmit this information directly to the hospital, GP, care worker or family member.
The device provides an alternative to regular hospital visits and enables patients to benefit from the same innovative care at home that they would receive in hospital while allowing them to maintain their independence.
The companies are currently working with Tallaght Hospital Dublin as part of a clinical trial, with the hospital expressing interest in the product as a significant improvement on their current system.
Photo: (Left to right) Michael Caufield, Intelesens with Margaret Hearty, InterTradeIreland, David Burrows and Dr Yvonne Nolan, Valentia Technologies
By Sorcha Corcoran
Article courtesy of Bizstartup.ie