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Enterprise Ireland
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It brings together a range of proven financial and other supports so that, stage by stage, Enterprise Ireland can help researchers in the Irish academic community to fast-track knowledge-intensive ideas to market.
How does the Fund work?
The Commercialisation Fund is divided into three phases to broadly match the progression of your research from the laboratory to the market. You can apply for funding under any of these phases, depending on what point your research work is at. At every stage, we are available to discuss your options with you:
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The
Proof of Concept phase
is aimed at demonstrating that the research is innovative and has a potential market;
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The
Technology Development phase
can be used to create reliable prototypes, to investigate the markets and options on how best to commercialise;
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The
Business Development phase
to develop a new company based on your technology idea, if that is your preferred route, or
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Advice and support on transferring your technology to an established firm.
Proof of Concept
This assists researchers to work on short applied projects to establish that the scientific concept under investigation, from whatever field of science and engineering:
��is sufficiently robust,
��has real market potential and
��has no intellectual property constraints.
Under this phase, grants to an indicative level of �90,000 may be awarded for a period of up to 12 months (or, in exceptional cases, 18 months). Applications for funding are assessed three times a year in a straightforward evaluation process, focusing on scientific merit and commercial development potential.
Technology Development
In this tranche of funding, we can assist you to carry out a substantive research project, provided you are confident that the underlying technologies are sound and that there is an identifiable market. Projects must be based on original research and be suitable for commercial exploitation in the medium term.
This phase provides grants, typically up to �350,000, over a 24-36 month period. All proposals are subject to technical and commercial evaluation by peer reviewers, both national and international, and are selected for funding from a ranked list. Evaluation of submissions takes place once a year, usually in May/June.
Business Development
Through Business Development, we support the ultimate stage of transforming your technologically innovative and financially viable work into commercial reality. We provide financial and advisory support to academic entrepreneurs, knowledge-based campus companies, as well as non-academics, who are interested in forming a campus company. If you are interested in commercialising your research yourself, Enterprise Ireland offers training, mentoring and financial assistance.
If you decide at this juncture that the best route for your research is via an existing company, we are on hand to provide clear advice on what to do and who to approach.
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Commercialising your research �what about you?
Enterprise Ireland is chiefly interested in seeing that the important research underway in colleges across Ireland is brought to commercial fruition for the benefit of Ireland's economy and its citizens. Once the research reaches a certain stage of development (which we broadly envisage as the completion of the 'technology development' of the idea) there are two main routes to market: 1.�You can set up your own company to commercialise your research work. 2.�Alternatively, you can arrange to see your research brought to market by others through licensing or similar arrangements � and enjoy a profitable reward for your work. Enterprise Ireland will provide support at all stages throughout this process. Indeed, we would greatly welcome the opportunity to discuss your options with you: for yourself and for your research. |
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Contact: Dr Martin Lyes, Enterprise Ireland, Technology House, Glasnevin, Dublin 9; Tel: (01) 808 2000;
for further information please visit our website at: www.enterpriseireland.com/ResearchInnovate .