Disruptive Technologies Innovation Fund continues to drive investment in research and innovation.
Three innovative projects have secured €13.3m from the Disruptive Technologies Innovation Fund.
This brings the total allocation of DTIF funding to over €288m, with over €165m (57%) of the funding awarded to project partners outside of Dublin.
“Despite the huge challenges presented in recent years, Irish companies have remained agile, and have contributed to Ireland becoming a global hub for technology and innovation”
The Disruptive Technologies Innovation Fund (DTIF) is a €500m fund established under the National Development Plan (NDP) in 2018.
“Despite the huge challenges presented in recent years, Irish companies have remained agile, and have contributed to Ireland becoming a global hub for technology and innovation,” said Enterprise Ireland CEO Leo Clancy.
“The recipients of these awards, who are working on disruptive projects with the ability to potentially improve healthcare outcomes and to have an impact on sustainability, exemplify that innovation and resilience. These awards will support these companies to continue to be ambitious and will support further collaboration.”
Breakthrough business ventures
Two of the projects that were funded are in the realms of medtech and health and wellbeing while one is in the area of agritech, energy, climate action and sustainability.
Led by a consortium consisting Croivalve, Blueacre Technology and UCD, one of the projects based in Dublin and Louth that secured €5.9m was an initiative to create a preclinically validated solution for the treatment of 90% of patients with leaking heart valves.
A second project that secured €4.6m consists of a Galway consortium that includes Venari Medical, Innovative Catheter Solutions Limited and Galway Mayo Institute of Technology (NUIG) to develop a BioVas Microvascular vessel wall intervention for vein closure in venous leg ulceration.
The final consortium involves organisations based in Galway, Meath and Cork that secured €2.8m to develop a closed-loop, whole-cycle approach to reducing the carbon footprint of livestock. Led by Glasport Bio, the consortium includes Devenish RD&I Ltd, NUIG and UCC.
“The three additional awards will see €13.3m shared among the 11 partners involved, bringing total investment in this call to over €53m across 14 projects,” said Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar, TD. “It is really positive to see the commitment of the enterprise partners to match the Government investment, which will see a further €9m in private sector funding directed to these projects.