3 women-led start-ups get €1.3m to commercialise

Enterprise Ireland has awarded €1.3m to three projects through its Commercialisation Fund. Each project will receive over €400,000.

Three companies in the area of biotech and medtech will each receive €400,000 from Enterprise Ireland as part of its Commercialisation Fund.

StarMAT Technologies is developing star-shaped polypeptide materials for biomedical applications. It is  led by Principal Investigator, Professor Sally Ann Cryan, RCSI University of Medicine and Health Sciences.

“We are delighted that the projects which have been awarded funding are all women-led”

Adjuvenate is building a platform solution for improved subunit vaccines. It is led by Principal Investigator, Associate Professor, Aisling Dunne, Trinity College Dublin.

And a project focused on the development of gene therapies for common retinal disorders, led by Principal Investigator, Professor Jane Farrar, Trinity College Dublin, also received funding.

The Enterprise Ireland Commercialisation Fund provides a mechanism through which researchers can transform their ideas into commercially relevant businesses. Enterprise Ireland has been working with third-level researchers for a decade on their journey as they seek to bring commercially relevant technology out of the lab and into the marketplace.

“The Commercialisation Fund is an avenue for Ireland’s brightest scientists to commercialise their research and bring it to the market,” said Eithne McShane, senior commercialistion specialist with Enterprise Ireland.

“At Enterprise Ireland, we recognise that funding innovation is key to ensuring that the Irish economy remains competitive on the world stage through the creation of technology-based start-up companies and the transfer of innovations developed in Higher Education Institutes and Research Performing Organisations to industry in Ireland.”

Prior to the awarding of this funding, all three projects also received €15,000 from Enterprise Ireland to conduct commercial feasibility studies.

Previous awardees of the Commercialisation Fund include AudioSourceRE, Cala Medical and Senoptica Technologies. The fund comprises business resources as well as financial support.

“We are delighted that the projects which have been awarded funding are all women-led,” McShane added.

“The medical research being undertaken by each of their teams will be looking at issues such as infectious diseases, adult blindness and drug delivery. We have seen in recent months the importance of medical research and look forward to assisting each on their journey to the marketplace with the ultimate goal of improving lives.”

Pictured: Professor Sally Ann Cryan, RCSI University of Medicine and Health Sciences

Written by John Kennedy (john.kennedy3@boi.com)

Published: 11 August, 2020