Posted on over 6 years ago by Laurentina Kennedy
3.5 million investment in research commercialisation announced by Ministers Humphreys and Halligan
Science Foundation Ireland’s Technology Innovation Development Award (TIDA) 2017 programme will fund 37 research projects demonstrating strong economic impact potential
Dublin, Tuesday, 16th October 2018 – Minister for Business, Enterprise and Innovation, Heather Humphreys TD, and Minister for Training, Skills, Innovation, Research and Development, John Halligan TD, today announced €3.5 million in funding for 37 research projects to support the commercialisation of government-funded research. 51 research positions are also set to be supported through the awards.
The funding is provided through Science Foundation Ireland’s Technology Innovation Development Award (TIDA) programme. The programme supports researchers undertaking applied research (that is, research used to find practical solutions to everyday problems, cure illness, and develop innovative technologies), across a range of disciplines in science, technology, engineering and maths (STEM), which demonstrate strong potential for economic impact.
The programme aims to demonstrate the feasibility of an innovative idea for further commercial exploitation, as well as providing project funding and training in innovation and entrepreneurship skills to third-level researchers, to support them in exploring commercial opportunities.
Speaking of the awards, Minister for Business, Enterprise and Innovation, Heather Humphreys TD, said “I greatly welcome this announcement of commercialisation support for 37 research projects, which further helps us to achieve the innovation and entrepreneurship skills outlined in the Irish Government’s science strategy, Innovation 2020. The SFI TIDA programme supports researchers in Ireland to develop important entrepreneurship skills and commercialisation capabilities, ensuring Ireland maintains its position as a leader in cutting-edge research, with significant enterprise engagement, excellence and impact.”
Minister of State for Training, Skills, Innovation, Research and Development, John Halligan TD also welcomed the announcement, adding: “Commercialisation potential is significantly important for Irish research. While Ireland is one of the fastest growing economies in the Eurozone, we cannot be complacent. The SFI TIDA programme fosters collaborative partnerships and supports innovation across the regions, as well as the development of critical skills among our research community.”
Researchers funded through the TIDA programme will also participate in the new SFI Spark Pre-Accelerator, which is an intensive five-day programme, delivered by the DCU Ryan Academy for Entrepreneurs. It will support STEM researchers in developing skills in areas such as evidence-based entrepreneurship, innovation and design thinking. The pre-accelerator also facilitates mentoring and networking for participants.
Prof Mark Ferguson, Director General of Science Foundation Ireland and Chief Scientific Adviser to the Government of Ireland said,
“Science Foundation Ireland is committed to investing in the translation of world-class research from the laboratory to market. The SFI TIDA programme aims to increase the number and quality of discoveries with strong economic impact potential that secure follow-on public or private investment. It supports the next generation of technology entrepreneurs in Ireland, which will lead to new innovative products and disruptive solutions to global research challenges.”