Workplace platform Wrky, high-tech materials manufacturer Plasmabound and medical device manufacturer Proverum Medical all have one thing in common. Like many other fast growing Irish startups, they have all featured at Enterprise Ireland’s Big Ideas Showcase in the past.
The Big Ideas Showcase is a key annual event hosted by Enterprise Ireland, spotlighting high potential, ready to invest startups [HPSUs] emerge from the Irish public research community.
What distinguishes this group is that each of the participating ambitious startups is based on deep tech and built on scientific and academic excellence. These are the innovative Irish firms of tomorrow and their proposals always attract keen interest from investors and trading partners.
Each startup at Big Ideas has been supported by Enterprise Ireland’s commercialization fund to begin building a business based on the proprietary ideas they developed at universities or research institutes.
Typically, these complex HPSUs have a longer path to market and revenue generation than competitors in other sectors.
While investors who come on board must accept this complexity, they may also queue for greater rewards over time.
This is the 14th year of the program. To date, nearly 200 of these startups are still active – and they provide more than 1,500 quality jobs in Ireland and spend over €120m on the economy each year.
This group excludes the 39 research-based startups that were acquired by international companies in deals totaling €500m for the Irish economy.
While investors who come on board must accept this complexity, they may also queue for greater rewards over time
Enterprise Ireland’s commercialization program culminates each year with this annual flagship event where Big Idea candidates have the opportunity to showcase their technology solutions and business proposition to investors and potential partners.
At this year’s event, held in Croke Park last Thursday, Dr. John Favier and Dr. Mohammad Ghaani presented with the “One to Watch Award” by NovaUCD spin-out NanobOx.
Nanobox was developed by Dr. John Favier, a serial entrepreneur and CEO of the start-up. Favier founded together with Dr. Mohammad Ghaani NanobOx. They have developed an extremely energy-efficient technology to oxygenate water using nanobubbles. The company claims its technology is highly scalable and capable of oxygenating water at high flow rates.
It was among the 12 investor-ready startups that showcased at this year’s showcase event. A Viewers’ Choice Award was also presented to Robert Wylie of Fada Medical, which aims to improve insulin delivery for people with type 1 diabetes.
The Health Innovation Hub Ireland Clinical Innovation Award was presented to Seamus Morris, Clinical Professor of Surgery at Mater Hospital. Other healthcare startups present at the showcase event included Vzarii Therapuetics, which showcased its gene therapy for age-related macular degeneration; ReleviumBio discussing its injectable gel for knee osteoarthritis; and Pumpinheart, which showcased a heart pump it has developed to treat certain types of heart failure.
Given the global focus on climate change, it’s no surprise that the event also included startups focused on sustainability – including carbon calculator developer Darwin & Goliath and intelligent energy saving system OPENS.
After these 12 outstanding startups went through the commercialization fund program, they received extensive support and mentoring to mitigate their proposals from a technical, clinical or commercial perspective.
They are now looking for investments – so that they can separate themselves from the university and research system.
Whilst each of these start-ups is in the early stages of development, together they represent a future strand of Irish homegrown business which will employ many local specialists and support staff. Over time, they aim to scale internationally.
It is crucial that we support and accelerate this type of entrepreneurship. It is only by driving this kind of innovation that we can solidify Ireland’s position as an export-oriented economic centre.
While Enterprise Ireland is deeply committed to this work, we could not undertake it – or the Big Ideas showcase – without the exceptional support the concept receives from the network of technology transfer offices that stretches across our universities and research institutes. implementing organizations.
Their work in driving research innovation and identifying and licensing new technologies is critical to the success of our deep tech HPSUs.
Deirdre Glenn is Director of Commercialization at Enterprise Ireland
https://www.independent.ie/business/irish/big-ideas-showcase-introduces-smart-investors-to-our-smartest-startups-42175728.html Big Ideas Showcase presents our smartest startups to smart investors