Creating a buzz in the drinks market

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Irish alcoholic beverage brand Beekon Batches are growing as a business and have not let the lockdown be a buzzkill

“When Covid-19 hit we had to get over our two weeks of thinking ‘do we have any business left, most of our sales were in bars, restaurants and hotels’,” says Karen O’Neill, founder of Beekon Batches. “We quickly got over the shock, pulled ourselves together and hatched a plan! “We couldn’t let it pull us down, so we decided to pivot the business online going direct to consumers whilst also strengthening our retail presence.”

Entrepreneur Karen alongside her wife and business partner Helen Kennedy are the brains behind Beekon Batches, an Irish-made honey-based, all-natural alcoholic beverage launched just last year. Karen, having been involved in the drinks trade for 20 years, realised people’s attitudes were changing on what they consumed. All-natural products, free from additives and preservatives, were growing in populatiry  and saw the opportunity to create   something new.

Beekon Batches is a “honey refresher” and is made with the love of all things bees. It’s created from honey infused with natural ingredients such as fresh lime and ginger, and has  an alcohol content of 5%.

Having  just started on the Enterprise Ireland, Bord Bia and Teagasc accelerator programme called Food Works, the Covid-19 crisis hit, and  their business hit a proverbial wall  due to having limited retail presence.

“We are one of the classic, positive pivot online stories as we managed to be successful with our online business and growing our retail footprint.A lot of that is based on the support, the resources and help we received from the Food Works programme.” says Helen

Helen says, “, When Covid hit, Food Works kicked in with a comprehensive, all encompassing program of support tailored to each participating business.  This was facilitated online right after we went into lockdown.  I have gained invaluable business and management insights across the whole business.”

Everyone on the programme is going through the same thing together so Helen says that every week everyone goes out to buy a product from another business on the programme. “There is a lovely level of support and comradery there.”

A hive of activity

Karen says that from being  anxious at the beginning of the crisis, today she is amazed at how phenomenally well their business has taken off .

“The combination of our new store listings such as SuperValu & Molloys Off licence stores, our online direct to consumer sales and our existing listings that have continued to support us means that we are delivering double the revenue than we were pre-Covid, ,” says Karen. “Our customers and members of the trade have really rallied around us and our story in particular. That is the fact that we are women with a brand-new product, trying to break down the gender bias in a very male-dominated drinks industry. Consumers too are responding very positively, they are craving something new, particularly at this time and Beekon offers them just this, something different and exciting.

“Everything we do is different to anything else on offer right now. Our drink is new, our packaging is textured and fun, and the locations where we sell are based on demand. We always ask our community where they want us to stock and we try to make that happen.”

Because of this support, one of the ways Beekon Batches has been able to give back is by supporting the bees. They do this with their bee pollinator programme. Wherever Beekon is sold, the business tries to do something to help the bees. For example, providing wildflower bee bombs to deploy wildflower seeds, and providing bee hotels where bees can make their nests.

“Last summer we partnered with Airfield Estate to allow bar and store staff to undertake full immersive bee experiences to heighten the awareness and effect behaviour changes to help support the bees. I think the trade really loves what we do here as it’s meaningful and impactful with its intention.”

The future looks very bright for Beekon Batches, so what does Karen see for the future of the business?

Karen says, “We want the drink to be universally sold in Ireland and then internationally. Consumers are becoming more conscious about what they’re consuming these days and about their own influence on sustainability, so another goal is for everyone to buy with this in mind. Our product can be the thing people choose to make a difference in the world and that’s an amazing feeling.”

 

Learn how your food business can develop and accelerate its growth with the Food Works program

 

Keep going, keep growing with Keogh’s

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Tom Keogh, MD of Keogh’s Crisps – producers of award-winning crisps and potatoes – talks about pivoting his business during the pandemic and giving back to Ireland’s frontline healthcare workers.

Being a family business that sources its ingredients and hires its staff locally, Keogh’s have an ethos that is based around community and support. And this very ethos is what prompted founder Tom Keogh to set up a fundraising initiative during the pandemic called Ireland Thanks You.

“My wife, and many other family members, work as nurses,” he explains. “So I got a real insight into the day-to-day risks their roles involve. We started doing food drops around hospitals but we wanted to do something bigger, especially as we couldn’t find a charity for frontline healthcare workers that put something directly in the hands of healthcare workers.”

The fundraiser guarantees that 100% of every donation goes directly to healthcare workers. Those in facilities that were most greatly impacted by Covid-19 will receive a €100 voucher.

“We have raised about €80,000 so far and are on track to reach €100,000 by the end of the month, which is fantastic.”

 

Challenges and positives

Impressively, Tom and his team put in long days and nights over a period of three weeks to develop the campaign, even though there were a lot of changes happening within their business due to the pandemic. However, he feels fortunate that business continues to boom.

“Two-thirds of food in Ireland is consumed in the home and one-third is outside of the home. Two-thirds of our sales were in the multiple retail sectors, in Tesco, Dunnes Stores, and Musgrave, for example, and one-third of our sales were in the food service sector.

“We saw one-third of the sales of our crisps completely disappear overnight. Then there was the uncertainty with exports. The pandemic has naturally had a negative impact on any development we had been working on overseas.”

But on the positive side, Tom says the increase in top retailers in Ireland was dramatic.

“Some weeks, we saw a 70% increase in demand. The extra demand more than accounted for the loss we saw in the food service sector.”

“We were also lucky enough that we had a huge amount of products on the sea when Covid-19 struck, which meant they were pulled in quickly to overseas markets. The States have seen the same big demand in multiple retail, that we have seen in Ireland.”

 

Helping hand

Indeed, Keogh’s are no stranger to trying times, having seen a 10-year decline in fresh potato consumption in Ireland in 2011.

“Our market was disappearing for fresh potatoes in Ireland and being potato growers for over 200 years, we needed to do something about it,” says Tom. “We were part of the Food Works Programme, an accelerator programme for high potential food businesses, for our potatoes at the time, and the idea for crisps actually spun off towards the end of this.”

Tom says Enterprise Ireland played a huge role in helping them get the business off the ground. “We had fantastic help from the Local Enterprise Office in Fingal, who provided us with a small repayable grant to get the business up-and-running. Bord Bia were a help too.

“We have seen considerable growth in the business since and we continue to have strong links with Enterprise Ireland.” said Tom

What has Tom learned from the pandemic?

“The world is a small place! We never imagined coronavirus would impact Ireland as much as it has, so it has opened my eyes. One of the things that has worked well for us is the fact we sell products in different sectors in many different countries. We had some areas that performed extremely well and some were poor, but because we had that spread of business, it allowed us to continue trading.”

During the pandemic, the Keogh’s Crisps team was also able to focus on the e-commerce side of things and launch an online shop section on their site.

“We turned it around in about nine days. A big thing I’ve learned is that, as a business, we can keep focused, adapt, and do anything when we need to.”

 

Visit Keogh’s to see their story and full product range

Market Watch – Spain

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Overview

  • Spain has begun to officially open up again, but some restrictions will remain in place for the coming weeks.

  • Challenges around transportation and quarantine still exist, but supply chains are moving.

  • Irish businesses should continue to communicate with their existing clients as the country is very much open for business.

Like the rest of Europe, Spain was badly impacted by the global pandemic but Alberto Cisterna from the Enterprise Ireland office in Madrid, says restrictions have begun to be lifted and businesses are easing towards a new normality.

“The Spanish healthcare system was overwhelmed by Covid-19 and Spain was one of the first countries to enact a total lockdown,” he says. “But we are very happy to see that the number of cases has fallen sharply, and this has enabled the government to start easing some of the measures which have been in place since March.

“This plan for a Transition Towards a New Normality was announced at the end of April and consists of four phases which are intended to relax the restrictions in a gradual, flexible and adaptive way. And although it started officially on the 4th of May and will last for eight weeks until the end of June, we are still in a state of alarm.”

 

Challenges and opportunities

Cisterna says while businesses in Spain are getting back to normal, some challenges do lie head.

“Firstly the challenge exists regarding transportation options and border restrictions as Spain’s air, land and sea borders have been closed for entry from May 15th and remain so – with limited exceptions,” he says. “And until the 30th of June, passengers arriving in Spain from other countries will be required to quarantine in their place of accommodation for the first 14 days immediately following their arrival.

“It is also important to highlight the fact that the supply chain in the country is fully operational as these measures do not apply to the transport of goods.” Alberto Cisterna, country manager Spain and Portugal

“And also teleworking, or video conferencing, is still the main priority for businesses across the country in response to the pandemic and this will continue to be the same for at least one more month.”

But despite the hurdles which need to be overcome, he is quick to point out that there are also some opportunities to be had, providing clients continue to engage with their counterparts in Spain.

“I would like to remind our client companies that Enterprise Ireland in Madrid is open for business and we are conducting as many engagements as possible,” he says. “In fact we are very happy to say that we have seen some deals confirmed even during the worst phase of the pandemic.

“One important recommendation for our client companies is to stay in touch or to reconnect with their agents, distributors or business partners and also to plan ahead for the Covid-19 post new normality – it really is very important to keep communicating.

“In addition, I would like to remind people that Spain is the fourth biggest economy in the Eurozone, and it represents a great opportunity because of its market size, particularly in sectors such as ICT or digital technologies.

“So my key message today is that we are looking forward to continue working with our Irish client companies as Spain is definitely open for business – and as sale cycles in this country have historically been very long, let’s use this time to plan for the future as Spain is a big economy with a lot more room for new opportunities.”

 

Get key insights on doing business in Spain and the supports available from Enterprise Ireland.

Industry Bulletin – Automotive – New mindset to focus on future solutions

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AVL is the world’s largest independent company for the development, simulation and testing of powertrain systems for passenger cars and commercial and industrial vehicles and is directly exposed to the deepest and most rapid business downturn in the history of the automotive industry. Dr. Daniel Kürschner, Head of the Company’s Munich-based advanced driver assistance systems (ADAS) centre, remains optimistic, however.

He points out that AVL is not a traditional Tier 1 supplier to the industry and is not directly connected to the supply chain. It is therefore also not directly affected by vehicle sales as many other companies.

While some projects are subject to renegotiation and delay, there are positives to the current environment, he notes. “We as a German or European car industry need to see this crisis as an opportunity to rethink our traditional mindset and to focus on more sustainable, future-oriented solutions, following the CASE trends (connectivity, autonomous, sharing/subscription and electrification) and also noting different demands of the younger generations.” says Kürschner. “Car makers would have the time now to catch up on delayed technology developments which they have not focused on over the past decade. A lot of companies worldwide, particularly innovative start-ups, have technologies available that could be combined with those of the traditional corporations in order to speed up launching competitive products at the end.”

AVL is already moving into new areas such as e-mobility, fuel cells and ADAS. “We see a big opportunity to grow within these new business fields and it would be great to see a green economy emerge in the near future,” he adds.

As a direct impact of Covid-19, also AVL has successfully switched to remote working. “Like for others, it has affected us in the sense that people can’t come together in person , but that we are currently working in home offices but, luckily, our teams are experienced in digitalisation and web-based communication so that we can keep the productivity levels very high.”

The downstream effect of the industry downturn is being felt, however. “The car industry in general is very cautious at the moment, so capital expenditure is on hold and also AVL – as one player in the industry – has changed over to short-term work,” Kürschner explains. “As a technology and engineering provider we are dependent on the automotive industry reopening, and we will continue to provide our technological expertise as best as possible, trying to overcome all hurdles resulting from the crisis.”

 

Addressing future market demands

Many of the challenges the industry is currently facing, already existed before the current crisis, he adds. “The current situation just accelerates the formation of fundamental structural changes within the market. The structural changes basically result from the green trend and because younger generations are demanding greener and more sustainable yet still safe and superior technology. However, they are still willing to spend money for this, so the industry must adapt to these changing circumstances and take measures to understand and accept future market demands.”

This superior technology includes ADAS.

“More and more customers will expect to find ADAS and autonomous driving features within their cars,” says Kürschner. “Moreover, autonomous driving is providing the technical basis for future concepts such as mobility as a service.”

He also mentions the upcoming development of the centralised electronic control unit. “This has a lot of benefits for maintenance and remote updates. It allows the provider to keep the product updated all the time, and will also feature active safety and cybersecurity functions.”

Innovation will continue to play a major role in automotive industry, he believes. “As we had already seen in the e-mobility trend starting over 10 years ago, today, also ADAS and newer trends will cause shifting supply chains, with innovative solutions looking to alter and take over from traditional fields within the industry.”

He takes a positive view of the industry’s future. “Looking at the business perspective, the focus will be on measures over the near term to keep the industry and economy running, which is partially a government responsibility, but also the companies themselves need to sharpen their product portfolio, ready to keep up with the latest customer demands. People will continue to need mobility despite the deep crisis and despite the current uncertainty and therefore, for now I am not concerned that people will stop buying cars. However, in the medium and long term, I would focus on the technologies following the CASE trends in order to maintain our global competitiveness within the future car industry.”

 

 

 

 

Managing Cashflow

Managing Cashflow in a Crisis

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As managers reset the business for recovery, companies need to adopt a lean culture where expenditure is minimised and every cost is questioned.

One of the greatest risks facing many businesses in the current environment is running out of cash. A company that can’t pay its bills, regardless of how profitable it is, will quickly go out of business. Cash conservation is therefore key to survival.

While in the medium to longer term companies will have to look at reengineering their business and operational models in order to meet challenges presented by the post-Covid-19 world, the short term is going to see a focus on cash according to Business Financial Consultant Brendan Binchy.

“There is much more urgency relating to cash now,” he says. “And there are many things a business can do to manage its cash. Almost everyone out there is availing of debt payment deferrals, for example. They are trying to hit the pause button on cash going out wherever they can so that they can preserve the status quo as much as possible. They are also looking at other areas like aged debtors. You almost have to look at it like a company threatened in a pre-receivership condition.”

Binchy recommends a structured approach to cash conservation and this starts with the balance sheet. “The profit and loss account is a record of a business over a period of time, but the balance sheet gives a snapshot of the business at a particular moment in time.”

Companies should pay particular attention to their gearing, he advises. This is the ratio of debt to equity on the balance sheet. “The lower it is the better, but losses will erode equity and increase the gearing ratio,” Binchy continues.

A healthy gearing ratio will allow companies to borrow judiciously in order to bolster their cash position. “This can be very helpful, but companies need to be aware of the associated debt service costs.”

The next step is to look at asset funding, where they may be scope for some reverse engineering. “Businesses frequently purchase assets for cash during good times,” Binchy notes. “They could be re-financed now with bank debt and this will improve the cash position. Generally speaking, the asset lifetime and the funding cycle should be the same. It is important to remember that trade debt, like invoice financing, is for working capital not capital expenditure.”

The sales lead to cash cycle is the next area for examining.

“It takes time for marketing effort to translate into sales leads, buying decisions, billing, and cash collection”, Binchy explains.

 “This can be quite protracted, and companies need to look for ways to get to close sales quickly and speed up invoicing.”

The supply chain should also come in for attention to slow the outward flow of cash. “Companies should identify strategic supplier relationships, tighten stock management overall, improve workflows, and negotiate new arrangements such as stockholding facilities with key suppliers. Talking to key suppliers and developing strategic partnerships is a very good ongoing strategy for companies. The more they do it the better.”

And then there are what Binchy calls the common-sense measures.

“Defer capital expenditure and other spending decisions wherever possible,” he advises. “Companies need to adopt a mean and lean culture where expenditure is minimised, and every cost is questioned. But this must come from the top down and everyone must share the pain and to be seen to share it.” 

Once those actions have been taken, it is time to put together a budget plan. “Having these measures in place means you already have your fingers on the pulse and you can make a budget plan to take you from where the business was before the crisis to what’s likely to happen afterwards. The most important thing about the plan is that it should be iterative. You’re not going to get everything right first time around. The plan gives you a framework to forecast and plan for what might happen. You can adjust it weekly and monthly rather than having to build new plans all the time.”

And businesses don’t have to do this on their own. Binchy recommends the Enterprise Ireland Lean Business Continuity Voucher as a good starting point. This offers eligible companies up to €2,500 in training or advisory services to help them identify and implement the measures needed to ensure they can continue to operate during the Covid-19 pandemic.

There is also the Covid-19 Business Financial Planning Grant, which is worth up to €5,000, and can be used by companies to pay up to 100% of the cost of engaging an approved financial consultant to assist them prepare a financial plan, understand their immediate financial position, manage costs and identify their funding requirement.

When it comes to cash for the business, Binchy points to the Temporary Covid-19 Wage Subsidy which he says has been very helpful to businesses throughout the country.

Sources of working capital and loan finance include the €450 million Covid-19 Working Capital Loan Fund and the €200 million Future Growth Loan Scheme fund available through the Strategic Banking Corporation of Ireland. Businesses which have difficulty accessing bank finance can apply for funding of up to €800,000 from the Enterprise Ireland Sustaining Enterprise Funds. There is also a fund for smaller companies which offers funding of up to €25,000 and €50,000 depending on the size of the business.

 

    Hear from financial expert, Brendan Binchy and Enterprise Ireland’s finance team in our Accessing Liquidity & Managing Cashflow webinar.

    manufacturing

    Seismic change on global auto production could offer opportunities for Irish suppliers  

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    Continental AG addresses fresh challenges as a result of the Covid-19 pandemic

    The company was forced to shut down all of its global tyre manufacturing operations within a short space of time as a result of the Covid-19 pandemic and has recently begun a return to production. “During that period, we had to wind down operations efficiently as well as implement cost mitigation measures such as short-term work initiatives from national governments, having workers take holidays, as well as unpaid leave along with salary reductions at management level,” says David O’Donnell, Global Head of Passenger and Light Truck Tyres at Continental AG.

    The company is now seeing a welcome but slow return to activity among key automaker customers globally. 

    “We are observing more build-to-order in response to a concrete need for the vehicles in contrast to before, where they were built for an assumed level of demand.” said David O’Donnell

    O’Donnell believes it will be several years before production levels recover. “We will be looking at 2022 or 2023 best case before we get to anything like 2019 volumes. Everybody will have to react to the seismic shift in volumes. We are looking at 70 million vehicles this year versus more than 80 million last year. If you can get used to the current level somehow, then you likely have two years of growth. The question is do you hold your capacity to be able to access more opportunities, or do you reduce your cost exposure in order to go into a new growth mode in a different way? That will put pressure on cost management and will also make them look at systems efficiencies and internal company structures.”

     

    Focus on Agility

    One impact of the global pandemic has been an enforced increased level of agility on the part of manufacturers. “How quickly can you ramp something down? Can you run with a portion of the plant and do that cost-effectively? How do you align it better system-wise to orders?” O’Donnell asks.

    “They might have full orders for a certain vehicle and then change it completely from week to week or month to month. It will take time for people to get over their nervousness to rely on orders and feel comfortable with the new processes,” he adds. “Those who can adapt to that uncertainty will be winners in this situation.”

    He believes this may present opportunities for Irish firms, which have a reputation for agility and flexibility. According to O’Donnell, anything a company can offer in terms of productivity, improving potential efficiency or agility such as adjusting payment terms for a period, holding more stock, or quickening pace of production would be beneficial.

     

    Supply Chain

    Opportunities may also exist in the dual procurement structure and more localised supply chain which could result from the crisis. “When China went into lockdown there were war room discussions in our organisation concerning who’s going to stop the slide first. It was a pivotal moment because you had electronic equipment coming from the huge manufacturing hub of China and that affected the batches in Serbia, for example. The aftershock will see OEMs discussing a change in tactics with their purchasing groups, as well as sourcing from multiple and more local suppliers going forward.”

    Noting that the Trump administration’s policies have already led to a discussion about what operations can companies relocate to the US, O’Donnell says more nationalisation in Europe may bring more opportunities than in the past.

    “A friend and colleague of mine is doing relatively small batch production of printed circuit boards and prototypes. He’s based in Germany and he has had a lot of requests because he is both local and agile as well as an alternative supplier to China. He might be more expensive but he’s offering the flexibility these companies need.”

    But customers won’t be willing to pay higher prices forever. “Once the OEMs are back at full capacity with high volumes again, they will come very aggressively with price discussions as they try to regain profitability.”

    He advises suppliers to be proactive in going after these opportunities. “It’s a question of arguing yourself into that space as a potential partner and bringing the advantages forward. Become ready for agility and be customer-centric by assessing challenges they have, look at the macro picture and present yourself as a local and flexible supplier. If you can do something there, you may have an advantage in winning long-term business.”

     

    Market Watch Germany – Webinar – Managing and supporting channel partners

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    Enterprise Ireland’s offices in Germany have launched a series of Webinars: Market Watch Germany. Every Wednesday at 14:00 BST/15:00 CET a new theme will be addressed to help Irish companies exporting to Germany navigate the challenges and opportunities presented by Covid 19.

    Managing and Supporting Channel Partners in the German market’ is the fourth installment of Market Watch Germany webinar series. The purpose of this webinar is to help Irish companies exporting to Germany navigate the challenges and opportunities presented by Covid-19.

    Panellists:

    Brian English an Engineer and Marketer with over 30 years international sales and routes-to-market experience.

    Dr. Andrea Seidel, with a wealth of experience in business development and strategic partnership.

    Paul Browne from Enterprise Ireland’s Client Management Development & Client Skills department.

    Financial planning to accelerate your recovery

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    The global economic crisis triggered by the Covid-19 pandemic is unlike any seen before in history in terms of the rapidity of its onset and its scale. It has been variously referred to as a black swan event or as a perfect storm, and for individual businesses worldwide its effects have included state- mandated shutdowns, a near total collapse in demand and, for the lucky, an enforced shift to new ways of working and business models.

    As Ireland begins its first tentative steps towards a return to something approaching normality, businesses too must start planning their pathway to recovery and beyond. According to Business Transition Consultant Brendan Binchy, the first step for business owners is to analyse the company’s current position and develop a vision for the future.

    He advises people not to panic. “It’s not a question of asking if the crisis will impact on the business and worrying about that,” he says. “It is self-evident that it will impact. You have to be proactive, not reactive. You might know how it will affect the business this year, but what about next year? Where do you want to be then? You need a to have vision for that. And from there you can work out what to do and what not to do and what you need to change.”

    There are also actions which need to be taken immediately to stabilise the business. In Binchy’s view, these actions require businesses to examine and reset their business models, develop and implement very tight cash management strategies, and adapt and modify their operations to meet the new conditions in which they find themselves.

    “You have to look at where you are financially, ask where your customers are coming from and why they buy from you, and if it is possible to recalibrate the business, to come up with a new model which will see it through the current period,” he advises.

    That might be termed the firefighting or survival phase. The next stage is to plan for recovery and beyond. While planning in such times of massive uncertainty may seem an impossible or even futile task, Binchy believes it is worthwhile and an absolute necessity.

    But the plan must be flexible and adaptive in order to deal with sudden changes in a highly dynamic environment. “We have to accept that what we think will happen may not come about. But if you don’t have a flight plan, you have no way of getting to your destination. When you’re up in the air you need to know where you’re going. You may get knocked off course from time to time and you will need to adjust the plan in response.”

    Even the process of putting the plan together can be helpful, he notes. “It is cathartic and helps clarify things.”

    This clarity comes from the examination of the business and its environment. Questions Binchy puts include:

    • Is your industry shut down or is it still working?
    • Are there opportunities there?
    • What has been the impact of the crisis on customers?
    • Do they still have money?
    • Do they still need your products or services?
    • Are there customers you no longer need?
    • What has been the impact on competitors?

    Fortunately, there is help out there both to develop plans and implement them.

    He points to the Enterprise Ireland Covid-19 Business Financial Planning Grant as a very important support. The grant, worth up to €5,000, can be used by companies to pay up to 100% of the cost of engaging an approved financial consultant. The consultant will work with the company to prepare a robust financial and business plan that identifies the funding needs and the potential sources of this funding.  

    Another valuable support Binchy advises businesses to take note of is the Lean Business Continuity Voucher, which offers eligible companies up to €2,500 in vouchers for training or advisory services to help them identify and implement the measures needed to ensure they can continue to operate safely during the Covid-19 pandemic.

    Support for the implementation of the plan is there in the form of the Enterprise Ireland Sustaining Enterprise Fund, which offers funding of up to €800,000. Very importantly, no repayments are required for the first three years of the five-year term of the advance and there is an annual administration fee of just 4%, making it a very attractive source of finance.

    Smaller businesses can also apply for advances of up to €50,000 depending on their size under the Sustaining Enterprise Fund – Small Enterprise scheme.

    “Businesses can also look to shareholders to put in new capital or go to the banks,”, Binchy concludes. “The important thing is to develop a plan and have the finance in place to implement it.”

     

    Watch our webinar addressing the critical challenges facing Covid-19 impacted businesses – Accessing liquidity and managing cashflow.

    Get advice from financial expert, Brendan Binchy on how best to navigate these issues and hear from Enterprise Ireland’s finance team on the financial supports available from Enterprise Ireland.

    manufacturing

    Cellix Ltd: Disrupting cell manufacturing and gene therapy with funding from the DTIF

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    Ireland has long been known for a high level of innovation and entrepreneurship, and now a fund worth millions of euro looks set to bring this innovation to a whole new level by investing in long-term projects that have the ability to make a significant global change within an industry.

    The Disruptive Technologies Innovation Fund (DTIF) was established under Project Ireland 2040 and is run by the Department of Business, Enterprise and Innovation with administrative support from Enterprise Ireland. Call 1 in 2018 awarded €75 million in state funding to 27 collaborative projects covering the health, food, ICT and manufacturing sectors.

    Call 2, in 2019, resulted in 16 collaborative projects sharing €65 million, covering life sciences, medical devices, ICT, artificial intelligence, blockchain, manufacturing and environmental sustainability, including in the waste and energy sectors. This brings the total State funding awarded to industrial research projects under the two Calls of DTIF to €140 million across 43 projects with 159 project partners.

     

    Emerging therapies

    One area that has benefitted from DTIF investment has been cell and gene therapy, with four company-led projects receiving a total of €25.5 million. One of these projects is led by Cellix Ltd, a company providing high throughput cell analysis and sorting platforms for cell-based assays. Cellix and its consortium partners in Trinity College Dublin and the National University of Ireland Galway’s Regenerative Medicine Institute were awarded €3.4 million for developing a Microfluidic Gene Transfection Cell Analysis and Sorting Platform (GTCASP).

    “The difference with DTIF compared with other funding in Ireland is the funding amount and its long-term nature,” explains Vivienne Williams, CEO and co-founder of Cellix Ltd. “Before, we would only have been able to apply for a grant that funds a few months’ work, but with DTIF, we have three years, which allows us to plan and produce a really good body of work from a scientific standpoint. Historically, for a long-term project such as this, we would have had to apply for a European grant, such as those under the European Commission Horizon 2020. These grants require us to work with a minimum of three partners in three different member states.

     

    Streamlined approach

    “DTIF is the first fund that allows us to work with Irish researchers on a project of this scale; the logistics even of just being in the same country as your researchers means that we can work much faster and interact so much more as our skillsets are extraordinarily complementary. Eight months in, we have already produced a great body of really interesting data.” said Williams.

     

    International collaboration

    The project led by Cellix stemmed from work carried out over 2017 and 2018, when Cellix harnessed collaborations with international partners to develop a label-free cell analysis and sorting platform. Cellix’s technology can now be used to identify, analyse and sort cells without compromising their biological function, avoiding the use of fluorescent dyes or other potentially disruptive labels. The DTIF funding will allow the technology already developed to be integrated into a new platform and validated for transfection capabilities.

    This platform comprises a microfluidic chip through which cells from patients or donors can be characterised, sorted and can be subsequently genetically modified and sorted again. The GTCASP offers a fully automated, closed system in cell manufacturing for gene therapy. The goal is for this platform, when developed to become a standard in the area of gene therapy, therefore bolstering Ireland’s reputation for innovation in the area of cell manufacturing and gene therapy.

     

    Commercial focus

    “We’re about eight months into the project and already we’ve generated some really interesting results, which I’m discussing with potential commercial partners,” says Vivienne. “Just before we started the project, I visited Bio International in the US and met with a number of different companies developing cell therapies; the feedback was very positive and they want to be kept informed of progress and data when it’s available so it’s a very good start in gaining traction with potential commercial partners.”

    Having this level of commercial activity so early in a project helps keep research on track and relevant to industry.

    “Industrial research is an essential part of the project so we need to constantly talk with industry partners who may want to license or buy the technology.” said Williams. “We need to continually validate what we’re doing with the market.”

    Home-grown talent

    The potential for Irish researchers to develop projects that disrupt and revolutionise an industry is high, adds Vivienne. “The quality of the research is so important; without good-quality research, we can’t come up with a good-quality product. To be blunt, we wouldn’t have applied for DTIF if we didn’t think Irish researchers could produce the results we need. Ireland really punches above its weight in terms of innovation; we’ve really become known for it now.”

     

    For more information and call dates for the Disruptive Technologies Innovation Fund visit the Department of Business, Enterprise and Innovation website.

    Industry Bulletin – Automotive – Impact of Covid-19 on automotive technologies

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    Jens Altmann, Market Advisor, Automotive Industry, Enterprise Ireland Germany interviewed Robert Metzger CEO and publisher at eMove360°, a trade fair and community platform for Mobility 4.0 – electric – connected – autonomous in Munich.

    eMove360° Europe is already now world’s biggest B2B trade fair for electric mobility and connected & autonomous driving.

    The video interview discusses the effects of the current Covid-19 situation on new technologies, forecasts on the industry and alternative ways of connecting with stakeholder in the market.

    • Effects of Covid-19 on technological development in the automotive industry
    • Influence on regulations and Electromobility  and its related supply chain
    • How to counteract current contact restrictions e.g. alternatives for physical trade shows

     

    Offshore Wind Webinar – Global Market update and Covid-19 Assessment

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    In the second of its Offshore Wind Webinar series, Enterprise Ireland’s Offshore Wind Cluster are joined by the Renewables Consulting Group which provides an update on the global offshore wind market outlook and assess the implications of Covid-19 on the industry.

    Dr. Lee Clarke and Sebastian Rae present detailed analysis from RCG’s recently published Global Offshore Wind Annual Report and focus on the following:

    • Provide an overview of the industry’s evolution
    • Outline key development hotspots
    • Highlight several markets of interest to Irish companies in the space
    • Assess the implications of Covid-19 on the offshore wind industry and supply chain

     

    UK BPO & IT

    Market Watch Industry Bulletin – BPO & IT

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    UK BPO & IT_Market Watch

    See the webinar here.

    Customer engagement is critical during the Covid-19 pandemic, as organisations across every industry look to connect, engage, reassure, and supply their customer base.

    In this time of uncertainty and disruption, Irish BPO and IT companies have demonstrated impressive flexibility in providing their outsourced services to ensure international companies can overcome these engagement challenges from a remote setting and provide a positive customer experience.

    Following Enterprise Ireland’s recent Industry Bulletin which looked at developments across the world affecting Irish BPO and IT Services companies, this edition of our Market Watch series focuses on the UK region and a key end-market for many Irish companies; the UK energy sector.

    This webinar reflects on the

    • Immediate impact of Covid-19 on the UK Energy sector
    • Challenges for energy retailers and their customers
    • Future opportunities in the sector for outsourced service providers to develop new and stronger partnerships with energy retailers in the UK.

     

    See the webinar here.

    Panellists:

    David Corcoran, Senior Market Advisor, Enterprise Ireland UK

    Peter Haigh, former Managing Director of Bristol Energy, CEO of ELEXON, and Director of Business Retail at E.ON.