Tag Archive | "Enterprise Ireland"

Government Invested €761 Million in Research & Development in 2016


The latest report on Government investment in research and development (R&D),  published by the Department of Jobs, Enterprise and Innovation on Thursday, shows that the Irish government allocated €761 Million for R&D in 2016.

Survey data in ‘The Research and Development Budget 2015-16’ publication is compiled from a comprehensive survey of all Government Departments / Agencies and show that the Government allocated €761m for R&D in 2016.   This is the third year in a row that funding has increased and represents a 3.2% increase on the 2015 figure of €736m.

The Department of Jobs, Enterprise and Innovation and its Agencies (Science Foundation Ireland, Enterprise Ireland and IDA Ireland) were responsible for over half of all Government R&D investment in 2015 at €391m or 53.1%.

The report provides details of Government funded research programs and highlights the extent and variety of R&D being carried out in the country.

In addition, the report brings together the latest data on business, higher education and government agencies’ spending on R&D in Ireland.   In 2014, the Gross Expenditure on R&D (GERD) by all sectors of the Irish economy was €2.9 billion.   The highest expenditure on R&D continues to be within the business sector which accounted for €2.1 billion of total GERD.

Minister for Training & Skills, John Halligan said: “Ireland’s future economic growth and prosperity will depend in very large measure on our continued investment in Research, Development and Innovation. This investment is all about developing a competitive knowledge based economy and society, driving innovation in enterprise, building human capital and maximising the return on R&D investment for economic and social progress. It is encouraging to see the increasing overall levels of public investment in this area, especially given the competing demands and continuing pressure on public finances. This positive momentum must be maintained and we must continue to give R&D funding sufficient priority to ensure Ireland becomes a global innovation leader.”

The full report can be read here.

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SEAI and Enterprise Ireland announce winners of innovation competition to develop smart technology solutions


Three winners of a Small Business Innovation Research (SBIR) competition were announced to develop smart technology solutions for Building Energy Rating (BER). Each company will receive €30,000 from SEAI to research and demonstrate the viability of their solutions to help make BER more influential for homeowners.

The announcement was made by Sustainable Energy Authority of Ireland (SEAI) together with Enterprise Ireland.

 The Sustainable Energy Authority of Ireland (SEAI), together with Enterprise Ireland, has announced the three winners of a Small Business Innovation Research (SBIR) competition to develop smart technology solutions for Building Energy Rating (BER).  Each company will receive from SEAI to research and demonstrate the viability of their smart solutions to help make BER more influential for homeowners.

The successful businesses and their proposals are:

  • Derilinx through its Energy Data Hub will provide data to property supply chain stakeholders giving them insights into a buildings energy rating.
  • Elm Solutions are developing Jouleco a smart solution which connects all BER users and cultivates an active community based around improving home energy efficiency.
  • IHER will develop BERWow an application that will help homeowners interpret their BER and help achieve the best possible energy performance for their home.

Commenting SEAI Chief Executive Jim Gannon said: “Smart solutions, including mobile technology, can make BERs more informative and influential in property transactions and upgrades.  With more than 600,000 BERs published, there is now a wealth of data to allow valuable comparisons to be made on energy performance.  With a number of SEAI programmes reaching advanced stages of maturity, a key short term focus for us is to generate robust and data-driven insights into the most cost effective measures and combinations across both residential and non-residential buildings. These projects represent a starting point and a key strand of this exercise in the residential sector.”

Leo McAdams, Divisional Manager ICT and International Services, Enterprise Ireland added: “Enterprise Ireland is excited to work with SEAI on this innovative initiative, and we congratulate the winners. Our efforts in promoting SBIR are all part of Enterprise Ireland’s strategy to get more Irish businesses delivering creative, innovative solutions for the public sector with potential to sell globally, leading to job creation.”

The companies have three months to develop their solution to pre-prototype stage, after which, up to two will be selected for further funding (up to €150,000) to complete prototype solutions.

 

What is BER?

A Building Energy Rating (BER) Certificate is an indication of the energy performance of a home. A BER certificate is accompanied by an Advisory Report which identifies how you might improve the energy performance of your home.

BER is the calculated energy use for space and hot water heating, ventilation and lighting based on standard occupancy. A BER is similar to the energy label for a household electrical appliance like your fridge. The label has a scale of A-G. A-rated homes are the most energy efficient and will tend to have the lowest energy bills.

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Minister Mitchell O’Connor to open first Enterprise Ireland pavilion at Farnborough Airshow


Today, the Irish aviation and aerospace sector will be promoted by Mary Mitchell O’Connor TD, the Minister for Jobs, Enterprise and Innovation. It will happen at the Farnborough International Airshow in Hampshire, England where there will be an Enterprise Ireland Pavillion for the first time

Enterprise Ireland, the Government agency responsible for helping Irish companies to scale and export internationally, will be showcasing six companies from Ireland’s aviation and aerospace sector following successful attendance at last year’s Paris Air Show.

There are over 250 companies active in the aviation and aerospace sector in Ireland, contributing over €4.1 billion to GDP and supporting 42,000 jobs in Ireland.

The Farnborough International Airshow, which takes place every two years, will showcase Ireland as a location for high-quality aviation, aerospace and related services.

The event provides an opportunity for Enterprise Ireland clients to exhibit, attend buyer meetings and actively participate in the many industry networking events around the Airshow.

Minister for Jobs, Enterprise and Innovation Mary Mitchell O’Connor TD said: “Farnborough will give Enterprise Ireland client companies a chance to showcase their capabilities to buyers from all over the world.

“There was approximately €185 billion-worth of business transacted at the last Farnborough event two years ago. I very much hope this week’s exhibitors can tap further into this market, deepening relationships with the likes of Airbus, Bombardier, Boeing, Rolls Royce and related supply chains.

“Ireland is a big player in this sector, for instance managing over 50 per cent of the world’s leased aircraft. Increasing our global presence in this market will drive exports and jobs at home.”

The Minister’s presence will help foster trade links with the UK, USA and France which have high potential growth in the sector, and developmental opportunities in countries such as Germany and South Africa.

Dr Tom Kelly, Enterprise Ireland’s Divisional Manager, Industrial, Life Sciences & Consumer, who is accompanying the Minister said the Irish aviation and aerospace sector was respected globally as an innovator and market leader, and that attendance at the event would support clients’ efforts to deepen their presence in the UK, while also accessing global opportunities in the aviation and aerospace sector.

“Our long-standing tradition in the sector means we have built up a wide range of high-level skills and key competencies in areas such as leasing, aircraft maintenance, component manufacture and airline support services, so Farnborough Airshow is a great place for Irish aviation and aerospace companies to be seen,” Dr Kelly said.

 

The Farnborough International Airshow is a week-long event that combines a major trade exhibition for the aerospace and defence industries with a public airshow. The event is held in mid-July in even-numbered years at Farnborough Airport in Hampshire,England. The first four days (Monday to Thursday) are dedicated exclusively to trade, with the final three days open to the public.

The airshow is an important event in the international aerospace and defence industry calendar, providing an opportunity to demonstrate civilian and military aircraft to potential customers and investors. The show is also used for the announcement of new developments and orders, and to attract media coverage.

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Enterprise Ireland to implement plans to help Irish exporters following UK decision to leave the EU


The enhancement of the UK market supports as well as the support of management and competitiveness  and the market expansion are the key measures of the implementation plans.

In a minimum of a two-years period while trade agreements are negotiated, exporters reminded. Managing potential currency exchange impacts a key priority for Irish exporters.

Enterprise Ireland has said that the UK’s vote to leave the EU will present significant new challenges for Irish companies exporting to the UK, and announced that it is immediately implementing its plans to support these companies.  Therefore itclude steps to help companies maintain their UK presence while also diversifying into other international markets.

Enterprise Ireland said that in the immediate term, the key impact on Irish exporters is likely to be around exchange rate volatility and that companies as a first step should seek financial advice relating to hedging and managing associated risks.  It also said that it would be intensifying its efforts to support companies respond to the new situation and implement medium term market diversification plans.

Enterprise Ireland outlined some of its plans to support clients including:

  1. Information and Guidance
  2. Market Diversification Supports
  3. International Sector Clustering Strategy
  4. UK In-Market Supports
  5. Competitiveness and Market Development Supports

Enterprise Ireland CEO Julie Sinnamon said: “The UK is a key market for Irish exporters and will continue to be one of our largest export markets. Ireland is a strong, open and competitive economy and while the result will pose challenges for Irish exporters, now that it is known, we will move forward and implement plans to help our client companies deal with the impacts.

“In addition to our team in the UK, we have put in place a dedicated email address, phone-line and team for Enterprise Ireland clients to respond to their immediate concerns and issues.

“It is worth remembering that there will be a period of at least two years while negotiations take place between the EU and the UK about the specific trade implications. Furthermore the UK Prime Minister has indicated that Article 50 of the Lisbon Treaty will not be invoked immediately. In this period Enterprise Ireland will continue to work with our clients to help them develop a more competitive position in the UK, and also to diversify into other growth markets including the USA, Northern Europe and Asia Pacific, all of which experienced significant growth in 2015. We will be closely monitoring the situation over the coming days and responding appropriately to our client needs,” concluded Sinnamon.

 

Enterprise Ireland Supports

  1. Information and Guidance: Enterprise Ireland will run an information campaign including: practical guides, online information and webinars, an updated UK market access guide and regional seminars in Ireland and the UK. These will provide guidance on issues including: the implications of trading with the UK, improving competitiveness, reducing supply chain costs, accessing funding, finance, foreign exchange, employment regulations and legal issues. There is also a dedicated email address: UKExportHelp@enterprise-ireland.com; an Enterprise Ireland helpline: +353 1 727 2727 and a dedicated webpage at www.enterprise-ireland.com/UKExportHelp.
  2. Market Diversification Support: Enterprise Ireland will intensify its strategy of supporting clients to diversify into new markets. As part of this strategy, Enterprise Ireland will provide increased internationalisation supports to assist client companies to evaluate new market opportunities. It will also intensify its International Trade Mission schedule for the rest of 2016 to include trade missions to Northern Europe, USA, China, India and other high growth markets. Enterprise Ireland will also host an International Markets week in the first week of October in Ireland, to provide Irish exporters with access to its overseas market advisors.
  3. International Sector Clustering Strategy: Enterprise Ireland will expand its focus on promoting Irish sectoral cluster capabilities to international buyers in growth markets including Northern Europe, USA and Asia Pacific in key sectors such as construction, manufacturing, financial services, software, innovation, BPO and food. There will also be sectorally-focused buyer engagements in Ireland and in-market in the coming months to connect Enterprise Ireland clients to growth opportunities.
  4. UK Market Support: Enterprise Ireland’s UK team, based in London, will provide support to clients to help identify key business opportunities in the short and medium terms. They will also provide advice and support on responding to the implications such as improving competitiveness and reducing supply chain costs.
  5. Competitiveness and Market Development supports: Enterprise Ireland will intensify its work with clients exporting to the UK by providing support to improve their competitiveness in the market through its management capability and development programmes.

 

Enterprise Ireland is the government organisation responsible for the development and growth of Irish enterprises in world markets. We work in partnership with Irish enterprises to help them start, grow, innovate and win export sales in global markets. In this way, we support sustainable economic growth, regional development and secure employment. You can find detailed information on Enterprise Ireland’s activities, strategy and performance in our Reports and Publications.

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Irish Government invest €5m in new pharma manufacturing tech centre


Ireland’s Government is to invest €5m over the next five years in a new Pharmaceutical Manufacturing Technology Centre (PMTC) that will be headquartered at the University of Limerick.

Damien English, TD, Minister for Skills, Research and Innovation, launched the centre today.

PMTC is the latest of 15 state-supported technology centresestablished jointly by Enterprise Ireland and IDA Ireland. The centre brings together 24 industry partners and nine Higher Education Institutes that will deliver the research.

PMTC will deliver advanced technology solutions to contemporary manufacturing issues challenging the Irish pharmaceutical sector.

The aim of PMTC is to make Ireland the global hub of pharmaceutical process innovation and manufacturing and ultimately support an industry that directly employs more than 25,000 people.

Manufacturing cost competitiveness and patent expiry are among the two most critical issues threatening the future of this industry, which contributes more than €40bn in Irish exports per annum.

“The pharmaceutical industry is a very important provider of employment and growth in Ireland’s economy,” English said.

“This joint initiative of Enterprise Ireland and IDA Ireland to make the pharma industry more competitive and efficient is most welcome. The fact that the research agenda is defined and informed by the companies involving both Irish SMEs and multinationals gives strength to the industry’s effort to tackle challenges such as the patents cliff and manufacturing competitiveness.”

The industry consortium comprises a mix of indigenous multinational pharmaceutical companies and SMEs, including Alkermes, Allergan Pharmaceutical, Applied Process Consulting, Astellas, Bristol-Myers Squibb Swords, Crest Solutions, Eli Lilly, Gilead, GSK, Helsinn Birex, Innopharma Labs, Janssen, Label Art, Leo Pharma, Merck Sharp Dohme, Pfizer, Process Analytics, Roche, Servier, Sigmoid Pharma, Takeda Pharmaceuticals, Techno-Path, Teva Pharmaceuticals and TopChem Pharma.

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Enterprise Ireland-backed venture capital investment rises


Investment firms backed by Enterprise Ireland invested €5m more last year than in 2012, according to the semi-State agency.

Firms using its Seed and Venture Capital Programmes invested €59m in 94 companies during 2013, it said, compared to a €54m investment in 84 companies during 2012.

To date half of the investments made via the programme were in the software sector, with more than a third going into life science firms.

The programme currently manages almost €700m in capital, according to Enterprise Ireland, with around 2,100 people employed by the firms that have gained investment through it to date.

Minister for Enterprise Richard Bruton said venture capital funds provide “critical funding, mentoring and access to networks” for emerging companies, with the latest figures showing that the State has been successful in encouraging more VC activity here in recent years.

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Food Testing Firm AltraTech Secures €900k Investment


Clare-based food diagnostics firm AltraTech has secured significant financial backing after developing a single-use test kit that can identify the DNA content of a food sample in a matter of minutes.

Despite having only been founded in 2013, the startup has secured investment of €650k from Kernel Capital through the Bank of Ireland Seed and Early Stage Equity Fund, with additional funds provided by Enterprise Ireland and the company’s founders, for an expected total of €900,000.

AltraTech was founded by Tim Cummins and Brian O’Farrell, following the former’s participation in Kernel Capital’s Entrepreneur-in-Residence Programme. The company has been developing a single-use portable semiconductor test kit for use in the food and agri sector, for high-sensitivity, species-specific identification of food content and contaminants.

In the wake of the horse meat scandal last year, AltraTech aims to be first to market with an on-site, in-line disposable DNA diagnostics kit which will reduce the wait time for DNA testing to 30 minutes. Currently, the wait can be anywhere from two to five days.

Variants of the technology will be applied in environmental, industrial, and retail settings for screening of hundreds of samples daily.  AltraTech’s founders say that they will use the round of funding to develop and trial the firm’s BeadCAP food-DNA test technology. Significant recruitment is also planned over the next 12 months to support these plans.

Commenting on the announcement, Tim Cummins, chief executive of AltraTech, said: “Our BeadCAP technology directly addresses problems such as the recent ‘horse burger’ and pig-animal-protein food adulteration crises, which saw food producers and retailers being faced with quarantine or recall decisions, as well as the risk of reputational damage and loss of sales.

“It will enable food producers to do real-time testing and make instant production and dispositioning decisions. We are delighted with this funding, which will enable us to add up to seven new employees over the next year to begin field trials of the technology.”

Cummins previously founded Kernel Capital portfolio company ChipSensors in 2006, which was acquired by Nasdaq-quoted Silicon Labs in 2010.

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Enterprise Ireland teams up with Mayo Clinic in ‘ready for market’ deal


Early stage medical treatments and devices – invented at the Mayo Clinic in the US – are to be developed into ready for market products by Irish academic institutions under a new agreement to be signed this morning.

It is hoped the five year plan will lead to the setting up of 10 new spin-out companies and the creation of dozens of jobs.

For the past 150 years, the non-profit Mayo Clinic in the US has been a world leader in medical treatment and research.

But according to the clinic, developing a good idea from early stage basic research into a ready for market product is expensive and difficult to fund in the US.

The Taoiseach will today witness the signing of an agreement that will see the Mayo Clinic partner with EnterpriseIreland, which has an established commercialisation fund and expertise in the area.

The clinic will hand over 20 promising ideas for new medical technologies and EnterpriseIreland will provide €12m in funding and experts in universities and academic institutions here to develop them for market.

The first project – a device for treating acute pancreatitis – is already being developed at NUI Galway.

It is hoped the unique partnership will lead to the creation of 10 spin-out companies, and as a consequence the creation of dozens of jobs

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