Global Ambition – Industry Insights webinar series

Enterprise Ireland will host a series of Global Ambition – Industry Insights sector focused webinars for clients, to deliver market intelligence on the evolving international export opportunities across global markets. The five sector market webinars will focus on:

  • Construction – 15th September, 9:30am – 10:45am

  • Lifesciences – 15th September, 2pm – 3pm

  • Travel Tech – 16th September, 3pm – 4pm

  • Agritech – 17th September, 11am – 12pm

  • Consumer Retail – 17th September, 2pm – 3pm

 

This webinar series will draw on Enterprise Ireland’s unique insight into key markets for Irish exporters lead by the Market Advisor in that sector and will explore crucial issues such as relationship strategies and the shift in consumer behaviour in the context of Covid-19.

You can register using this link. You can register for multiple webinars and all registrants will receive a copy of the webinar recording and slides.

Market Watch – South East Asia

Overview

• Many countries in South East Asia have made a successful return to business
• Travel restrictions had posed problems for businesses selling into the region, but goods are moving again.
• Critical supply chain companies are ramping up production and capacity to meet increasing demand
• Opportunities are continuing to arise, particularly in Digital technologies, Life Sciences, Telehealth, and Industrial sectors
• Life is beginning to return to normal.

Every industry across the world has been impacted by the effects of Covid-19. But while there is undoubtedly still a long way to go, business is beginning to return to some sort of normality and Kevin Ryan, Director of ASEAN, says much of South East Asia has made a cautious, but successful return.

“Business is definitely getting back to some semblance of normality, but things are a little different,” says Ryan. “In Singapore, we are now in Phase 2 of the ‘Circuit-Breaker’ measures and most businesses are now allowed to return to office environments. But the message remains consistent and to work from home where possible.

“Politically there is a history of stability and longevity here with governments making long-term plans which are carried on by successive ruling parties and this is very beneficial to the economy of the region.”

With experience of the SARS epidemic in 2002-2004, the governments of SE Asia have been methodical in their management of the Covid outbreak and this has proved crucial in the successful reopening of business.

“During the phased approach, the return to work was carefully managed,” says Ryan. “And around the region, key markets are opening up and demonstrating strong ownership in managing business and movement of goods.”

So with the effects of Covid shaping how people work and interact, the ASEAN director says strong sectoral opportunities have emerged.

“The Future of Work and the Digital Workplace is a very interesting development and client companies see big potential across the Asia market,” he says. “Here you have huge centres of populations, with Banks, Insurers and Tech companies all requiring teams to work remotely and embrace innovative solutions.

“From the Life Sciences sector, there is significant interest and demand for services which offer innovative solutions to help eliminate the effects of Covid. And the crisis has shown how reliable technology can be and has forced governments to take a fresh look at implementing digital health solutions in their regions.

“Consumer Retail is also playing out strongly with the likes of Water Wipes and Pestle & Mortar being two good examples of clients gaining traction in Asia.”

But most businesses, regardless of sector, are focused on saving cost, generating additional ancillary revenue streams and using technology to help prevent Covid in the workplace.

“Businesses are very keen to understand how technology can help them combat the pandemic and keep staff safe,” says Ryan. “We’ve had strong engagement with companies who see the value proposition, most notably with the likes of Novaerus who have a proven air and surface disinfection device. While companies such as Combilift have proven capabilities in an industrial space, helping to eliminate waste and enabling companies think more efficiently.

“Our clients are constantly looking at new ways to offer unique solutions to companies, which are now struggling with their traditional business model. And we are seeing success and increased interest in companies such as Good Travel Software (GTS), which allows OEM car manufacturers and car companies opportunities to tap into additional ancillary revenue streams they wouldn’t have considered before.”

But one of the real strengths of Enterprise Ireland is its network overseas.

“We are the gatekeepers making sure clients are ready to make the leap,” says Ryan. “We also work with them to break down any barriers – geographically and culturally.

“So on a positive note, we’re definitely seeing greater availability and access. Prospective buyers in the region are realising that unless they open their minds and are willing to think innovatively, they will face the prospect of losing opportunities to their competitors, and in this climate that could prove fatal. Irish companies have a long history of being innovative and entrepreneurial and business in Asia is very responsive to this.”

The SE Asia region encompasses 10 countries with a population of circa. 650m people and Ryan says the market is very much open with he and his team engaging regularly with client companies to support a successful entry into the region.

“Ireland, in comparison to some parts of Asia, is small, and our team works extremely hard on selling a consistent Irish message,” he says. “We have strong success in opening doors and creating opportunities and our reputation across the globe is superb with Ireland’s expertise in Asia shining through from the perspective of innovation and quality.

“So there is light at the end of the tunnel, and we’re encouraging clients who have a product ready to go, to engage in Asia as we are laying the groundwork for opportunities to be realised in 2021 and beyond.”

Get key insights on the supports available from Enterprise Ireland.

A View from International Markets – North America – Webinar

In these unprecedented times knowledge and insights have never been more critical to business planning.

This On Demand webinar draws on Enterprise Ireland’s unique insight into key markets for Irish exporters and explores crucial issues such as sales and relationship strategies in the context of Covid-19, managing teams remotely and emerging market opportunities.

The webinar featured SoapBox Labs and Aerogen who gave their first-hand experience of selling internationally and maintaining and building relationships during the worldwide pandemic. This webinar also featured Sean Davis, Enterprise Ireland’s Regional Director for North America.

This webinar discussed:

  • Operation and business continuity during these unprecedented times.

  • Growing your business in the world’s largest economic region.

  • Lessons in leadership and using technology during the Covid-19 pandemic.

Nearform

Inside Innovation Show – Nearform

Inside Innovation brings you the stories of Ireland’s leading innovators and changemakers.

On the last of our 3-part series called Innovating in a Crisis, we are joined by Chief Commercial Officer of NearForm Larry Breen.

 

On the 7th of July 2020, Ireland launched its contact-tracing app; COVID Tracker and within a week it was downloaded by around 37% of Ireland’s adult population. Ireland has been heralded as an exemplar in Covid Tracking via Smartphones and emulated all over the globe.

Larry Breen shares the story of the company behind the app, outlining useful tips on a distributed workforce and how collaboration is key to a successful project.

Orbidal CEO

Evolve UK Webinar – Selling your Digital Solution to the UK Public Sector

Laura Brocklebank, Senior Market Advisor, Enterprise Ireland UK and  Tony Corrigan, CEO, Orbidal will present best-practice and opportunities that exist in the UK public sector and how to be successful at winning UK Public Sector contracts. The webinar will feature:

  • Overview of UK Public Sector Procurement – Covid-19 update and what’s happening now?

  • Overview and opportunities that exist with UK Public Sector – Spotlight on Digital Frameworks

  • Best practice for prospective public sector suppliers

  • What makes a supplier successful at winning contracts?

  • Orbidal’s process to ease and simplify the process of tendering.

ReturnWorkplace 1

Covid-19: Returning to the workplace safely

In four short months, the world of work has changed dramatically thanks to the Covid-19 pandemic. Many of us experienced remote working, changed working conditions, altered hours or even layoffs. But now, as the economy slowly reopens according to the Government’s phased roadmap, employers and employees are slowly returning to the workplace, albeit a very “new normal” type of workplace.

“The Covid-19 pandemic has impacted on companies in many different ways,” says Karen Hernandez, Senior Executive, People & Management, at Enterprise Ireland. “As a result, the challenges that companies are facing as employees return to the workplace tend to be different, but in general, there are a number of key considerations that companies will need to address to ensure a safe return to work.”

To help companies navigate their way through these considerations, Enterprise Ireland has produced Covid-19: Return to the Workplace Guide, which can be downloaded on the Globalambition.ie website. This is a practical guide that takes employers through four key areas: the health, safety and wellbeing of employees; employee communication and engagement; resource planning; and data privacy and GDPR. The guide also includes some templates that employers can use within their own business, such as a Pre-Return to Work form.

“The first consideration that employers need to address is the health, safety and wellbeing of their employees,” explains Karen. “The Health & Safety Authority (HSA) has issued the Return to Work Safely Protocol, which supports companies put measures in place that will protect the health and wellbeing of their employees as the economy begins to open up. Measures include completing a Risk Assessment, completing or updating your business’s Covid-19 Response Plan, and asking your employees to fill out a Covid-19 Pre-Return to Work Form.”

The HSA Protocol can look daunting at first, but Joyce Rigby Jones, Joint Managing Director at HR consultancy Voltedge, explains that it’s up to an employer to decide what is right for them. “The HSA Protocol provides a list of guidelines and protocols, and it’s up to each company to look at these and decide what is reasonable and appropriate in their case. But at the same time, as employers, we have to make sure we’re providing a good and safe base for our employees.”

Many guidelines include practical measures such as putting processes into place for suspected Covid-19 cases in the workplace, but another major part of ensuring employees’ health and safety is looking after their wellbeing, as Joyce explains. “We’ve all gone through major stress and there’s been such radical change that every employer has to take  onboard how this has affected employees.

Many employers have put into place an Employee Assistance Programme or Occupational Health Service to help employees with any issues they may encounter. But if you don’t have this, there are other things you can do, such as running wellness sessions or spearheading wellbeing initiatives.

There are some really nice resources on the gov.ie website called In This Together. The HSE website also has a mental health section, which is very useful. And of course, the Enterprise Ireland Covid-19 Return to the Workplace Guide offers some useful ideas such as a buddy system, which can be great for those working remotely. Communication is key – not everyone will be able to return to the workplace so talking to each individual and making them a part of the decision-making process will help their wellbeing and make sure any decision is good for them.”

Communicate, communicate and communicate some more!

The second key consideration identified by Enterprise Ireland is communication, which is essential during a time of so much change. “The HSA has provided guidance on a number of practical measures to enhance communication with your staff as they return to work,” says Karen. “Employers should be looking at all the changes in policies and procedures that must be made and ensure that employees know what they are.

A first step includes putting a Covid-19 Response Team in place, who will be responsible for completing and implementing the business’s Covid-19 Response Plan. At least one worker representative should be appointed, who will work with the team to engage with employees regarding any changes that need to be made as part of the Covid-19 Response Plan. All staff must also be trained.”

Enhanced communication will also help your employees’ wellbeing. “Everything about the workplace will change, from where you enter and exit to where you take your breaks,” explains Fredericka Sheppard, Joint Managing Director at Voltedge. “Change is difficult and it’s up to each employer to implement those changes, map it out, communicate with their employees and communicate again – you cannot communicate too much in this instance.

“Collaboration will bear fruit. You want to know if there are risks or if an employee is nervous about the workplace or feels unsafe. You want your staff working in a safe environment; if you are communicating with your staff through surveys, questionnaires etc on a regular basis, you will get greater engagement with your employees – and we know that in an environment where there is greater engagement, there is greater productivity.”

Successful resource planning

Inevitably, some businesses will have to take a hard look at their company and make some changes. Remote working will become a long-term reality for some companies, while sadly for others, redundancies may have to be implemented. Any changes in resources should be made objectively and with the constraints of employment law in mind. “Given current physical distancing guidelines, it’s highly unlikely that any company will be bringing back their full complement of staff initially,” says Karen. “Businesses will have to look at their resources in line with their business plans and their employees’ needs. For instance, some employees might have underlying health conditions and mightn’t come back into the office at first.”

“Some companies may have to look at restructuring or altering their business,” adds Fredericka. “They must pay attention to the legislation in this area. This hasn’t changed and the crisis won’t excuse you if you don’t do it right.

The Enterprise Ireland Return to the Workplace Guide has some useful information regarding this. Of course there’s a financial impact to this, but you must also remember that there’s a psychological impact too. The staff who are staying may be affected by any redundancies too – and this is talent that you have worked hard to get. Evaluate your business and market; you must keep this under constant review.”

On the other hand, this is a great opportunity to look at the skills of your employees and invest in your talent. “Resilience and good people management have never been more important and we need to support and invest in managers in developing these skills. Your marketplace may have changed, you may have to alter the product you offer – invest in your people to adapt to these changes and you’ll reap the rewards in the future.”

Protect sensitive information

A final key consideration is the tricky issue of GDPR and data protection. The HSA Protocol requires employers to collect information and keep records that could contain potentially sensitive information. It’s imperative that employers only collect the information they need, and that it is stored appropriately.

“GDPR and data security are more vital than ever,” says Karen. “The HSA is asking employers to keep contact logs, and there may be a need for some companies to undertake temperature checking too. There will also be health information included in the Pre-Return to Work Form. Companies need to be very mindful of their obligations under GDPR and data security. They must make sure that any information they request is reasonable and that this information is stored securely.”

These points, and more, are explored and expanded in the Covid-19: Return to the Workplace Guide. Enterprise Ireland has also launched a number of supports for businesses, including the Lean Business Continuity Voucher, which provides companies with up to €2,500 to help them put into place any guidelines or strategies needed before opening up the workplace again. More details can be found at https://globalambition.ie/covid-19/

Inside Innovation Show – Hibergene

Inside Innovation brings you the stories of Ireland’s leading innovators and changemakers. Across the series we will cover a whole range of topics from innovating in a crisis, to looking at the future of many business areas. We go behind the stories, to understand what drives these innovators and what the innovation success factors are, from capability building, to culture and leadership.

The podcast is hosted by innovation expert Aidan McCullen.

The second episode is part of a series ‘Innovating in a Crisis’. In a rapid response to Covid-19, Hibergene Diagnostics launched a new Covid-19 test, that delivers positive results in just 30 minutes. Gary Keating, CTO of Hibergene talks capability building, agility, speed and collaboration, all important factors in the company’s success in innovation.

Garrett Murray

Horizon 2020 – An unmissable opportunity for ambitious Irish innovators

Significant levels of grant support and equity investment are up for grabs under the Horizon 2020 European Innovation Council (EIC) Accelerator Pilot, and Ireland’s recent success shows that Irish companies have what it takes to win.

The EIC Accelerator Pilot supports high risk, high potential SMEs and innovators to help them develop and bring to market innovative products, services and business models that could drive economic growth.

In the most recent call, eight Irish companies secured a total of more than €31m placing Ireland second, jointly with France and Denmark, in terms of the number of companies awarded funding.

“The March call results have been particularly good for Irish companies,” says Garrett Murray, National Director for Horizon 2020 at Enterprise Ireland. “The success is a testament to the research and innovation capability of Irish companies and the vibrancy of our high potential start-up and commercialisation eco-system.”

Among the successful Irish companies were five whose innovations related to coronavirus. One of these, Aquila Bioscience, has developed revolutionary decontamination technology that helps protect people from dangerous pathogens and other viral infections.

“We are delighted to receive funding from EIC which allows us to substantially scale up production and deliver this technology more quickly to workers in Ireland and across the globe,” says Lokesh Joshi.

 

Support for applicants

With multiple EIC calls during the year there are ongoing opportunities for companies to pitch for a slice of the lucrative support, but, says Murray, it’s important for companies to realise that it is a very competitive process.

“We recommend that companies considering applying for EIC Accelerator support contact Enterprise Ireland first. Our team of National Contact Points are experts on the programme and work with companies to bring them through the process step by step including reviewing drafts of their application before submission.

“Applicants need to think clearly about how they are going to articulate three things in their application: the excellence of their innovation; how their product or service is going to impact in the market; and how they are going to implement their strategy to scale their business. These are the three major criteria on which the applications are judged,” explains Murray.

If companies are successful at stage 1 they are called to interview in Brussels (currently via digital communications).

“Our team do mock interviews with the companies, putting them through their paces in exactly the same way as they will experience in Brussels, to give them the opportunity to refine their pitch.”

Companies can apply for grant support only, a mix of grant and equity, or initially a grant with the option for later discussion with the Commission in relation to equity.

“We always advise ambitious companies to seriously consider applying for equity particularly in the current environment where the availability of venture capital is reduced,” says Murray. “Getting equity from the Commission provides leverage to get more private sector funding.”

 

More than financial support

As well as financial support, successful EIC Accelerator applicants get coaching and mentoring, provided through the Enterprise Ireland team.

“The Commission regards that as a very important part of the process. It’s not just about awarding a grant or investing by way of equity but also helping companies develop their strategy.”

Kite Medical was awarded a grant in the most recent call. The company has developed a system for the detection of kidney reflux.

“This funding from the European Commission will allow Kite Medical to further develop the KITE system to progress into a clinical study. The funding will also support an additional six jobs at the company and establish our market launch strategy. The project outcomes will facilitate fund raising to support our commercialisation plan,” says Joan Fitzpatrick, Kite Medical’s CEO.

 

Future calls

There continues to be many opportunities for Irish enterprises and researchers under the EIC and across the Horizon 2020 Programme, including calls for proposals under the European Green Deal, worth around €1bn that will be issued in the autumn.

The next EIC Accelerator call for applications will be in October and will have a focus on female entrepreneurship where, should the first-round evaluation show that a minimum of 25 per cent of companies selected for the final-stage interviews are not led by women, additional interviews will be planned.

“We are particularly encouraging female-led companies to apply for the call in October. There are a lot of great female entrepreneurs in Ireland and this is a great opportunity for female-led companies to get additional funding,” says Murray.

SMEs of all sizes are eligible to apply for EIC Accelerator funding including start-ups, which tend to form the majority of applicants.

“There’s no disadvantage to being a very small company. The Commission considers how quickly a company is going to scale and whether EIC support will help accelerate that and get the innovation to market faster,” says Murray. 

“The only disadvantage that companies can have is if they’re not ambitious enough.”

 

For more information about support under Horizon 2020 please contact h2020support@enterprise-ireland.com

 

 

Inside Innovation Show – Combilift

Inside Innovation brings you the stories of Ireland’s leading innovators and changemakers. Across the series we will cover a whole range of topics from innovating in a crisis, to looking at the future of many business areas. We go behind the stories, to understand what drives these innovators and what the innovation success factors are, from capability building, to culture and leadership.

The podcast is hosted by innovation expert Aidan McCullen.

Episode 1 – Interview with Martin McVicar, CEO & Founder of Combilift

The first episode is part of a series ‘Innovating in a Crisis’. An Irish innovator who innovated in the Covid-19 crisis is CEO and Founder of Combilift, Martin McVicar. The Irish engineering firm leveraged the innovation skills that make it a world leader in forklift trucks, to solve a global shortage of the ventilators required to fight Covid-19.

Resetting your business model

Resetting your business model in response to Covid-19

In preparing for tomorrow’s world, businesses need to reset their business model to remain relevant to their customers in the new environment

The Covid-19 pandemic has changed the world and transformed the environment and operating rules for business. Last year’s winning formulas have become failed propositions almost overnight, and many of yesterday’s compelling products and services are obsolete in the context of tomorrow’s needs.

This requires businesses to take a long, hard look at their business models in order to remain relevant to their customers in the new environment. They will need to reassess what they sell, who they sell it to, and how they make money from that. They will also have to examine why people buy from them and how that translates into profitability.

According to Business Financial Consultant Brendan Binchy, companies need to focus on four key areas when seeking to reset their business models:

  • Their current product offering and how can it be developed, changed, or delivered differently
  • Who their customers will be in future, both current and new, and if there is a need to drop some existing ones
  • The reasons customers buy from them, their new value proposition, and how they will do something unique; and
  • How they will make money – lower input costs, production efficiencies, premium price or volume increases.

When looking at the product offering, Binchy advises companies to ask the hard questions. “Have you got any inherent future proofing protection for your product or service? What is unique about it? What is its lifecycle in the market? How much of your revenue is dependent on it? What are most profitable products?”

The answers to these questions will help decide what products to retain or drop, as well as inform new product development efforts.

Customers should be subject to a similar analysis, he advises. “Who uses your products? What are their demographics? Who are your most profitable customers? Where are they? What defines your ideal customer and where can you find more of them? Why are you still dealing with unprofitable customers?”

This will assist in defining target customers. “Businesses should categorise customers into groups according to their profitability and different attributes, and then select which ones they want to deal with in future. This may lead them to stop dealing with some of them. Companies shouldn’t be afraid to fire customers who don’t value what you do.”

The next step is to establish why these customers will buy from the business. “Go out and ask your customers,” Binchy advises. “Bring them in and talk to them about it. Find out the defining attributes of your most important customers and find ways of meeting their expectations. This will help you pick the right people to work for; people who value what you do. If a multinational has been buying from you for the past 10 years, you must be doing something right. Find out what that is and build on it.”

Making money is the other and perhaps most critically important part of the jigsaw. This will require the business to look at the key business model drivers of products and services, marketing and sales, and finance, in terms of profitability, cashflow and return on investment. “They are the what, the who and the how of the business model,” Binchy explains. 

“The enablers are your people and systems and processes that support the business. You can’t grow a business without all three drivers, being robust and in balance with each other. You can have great customers and products, but you won’t have a business if you’re not making money.” says Binchy

An analysis of those drivers, along with the enablers, will give you a clear view of the revenue and cost bases of the business, and will help identify how the pathway to profitability can be bridged. “A business might look at reducing materials, labour or other operational costs. It can also look at production efficiencies or seek to increase prices if it can be positioned in a premium segment of the market.”

The remaining question is how to finance the transition between the old and the reset business models. “The money and support are there to help companies bridge between the two. We just have to hope the transition period between them is going to be as short as possible,” Binchy adds. “The Enterprise Ireland Covid-19 Business Financial Planning Grant is there to help businesses start the journey. It offers a 100% grant up to the value of €5,000 to fund the cost of a financial consultant to prepare a financial plan that shows exactly how the company intends to reset and adapt its business model as it emerges from lockdown. The Lean Business Continuity scheme offers vouchers worth up to €2,500 to fund the cost of training and advisory services.”

He points to the €450 million Covid-19 Working Capital Loan scheme and the €200 million Future Growth Loan Scheme available through the Strategic Banking Corporation of Ireland as potential sources of loan finance for companies.

In addition, there are the Enterprise Ireland Sustaining Enterprise Funds which offer funding up to €800,000 to fund the implementation of stabilisation and viability plans. Smaller businesses can also apply for funding of up to €25,000 or €50,000, depending on the size of the business.

Both schemes feature repayment moratoriums for the first three years, a very important consideration according to Binchy. “That is very attractive when the company doesn’t have repayment capacity for the moment. They can’t go to the banks if they are in that position. Businesses have to dance very carefully when seeking funding, and these schemes certainly help with that.”

Learn more about the Enterprise Ireland supports available in our Accessing Liquidity & Managing Cashflow webinar

Adapting your business model

Adapting your business operations in response to Covid-19

As businesses reset and recover, every aspect of a business’s operations should be examined and analysed to identify efficiencies and better ways of doing things

Having identified a pathway out of the crisis, made required changes to the business model and developed a cash conservation strategy, businesses need to turn their attention to operational matters if they are to adapt quickly to the changed environment.

Every aspect of a business’s operations should be examined and analysed to identify efficiencies, better ways of doing things, or things which shouldn’t be done at all. Companies around the world are already engaged in this process and those that delay will find themselves at a competitive disadvantage, according to Business Transition Consultant Brendan Binchy.

He points to a survey of 3,000 CEOs carried out by the Economist Intelligence Unit which found that almost all of them are going to implement operational agility measures as a result of the Covid-19 crisis. “That train has already left the station as far as they are concerned,” he says. “Every company should take a quick and hard look through the whole functional side of its business.”

He offers a checklist of the five core functional areas of the business which require attention – products and services, marketing and sales, finance, people, and systems and processes.

“They need to take a walk through that checklist and identify areas where they can improve effectiveness and efficiency,” he adds. “For example, when looking at the operational model they should ask if it is possible to morph to online, or if product and service delivery modes can be changed.”

On products and services, he advises careful management of stock levels as a starting point. 

“New product development should also be reviewed, you have to look at the cost to bring it to market and how quickly it can generate new revenues streams or if you need to do it at all at the moment.” says Binchy

Similarly, expansion plans should be subject to reappraisal and put on hold if not justified by a clear payback. Supplier relationships are also important, and discussions should be held with a view to reducing costs and achieving efficiencies.

“With international supply chains, some companies are moving away from “just in time” policies to making sure there is “enough in time” to meet demand,” Binchy adds. “There is risk associated with internationalisation, and companies could consider moving to a portfolio of multiple suppliers to deal with this.”

Other considerations relate to the production process itself. “If the company is starting up again, what needs to happen in the production flow? Does everyone need protective screening measures? Will you sub-contract some things out which had been done internally?”

Turning to marketing and sales, he recommends a selective appraisal of investment, but with targeted reductions based on return on investment rather than wholesale cuts which could cut off the market cycle.

Another area to look at is pricing strategy and the potential impact of discounting. Care should be taken to avoid a situation where discounts lead to volume increases which in turn may cause problems in the production process and perhaps divert resources from more profitable lines. It’s a classic case of weighing up the price volume trade off.

The finance function should become more fully integrated into the management of the business, he advises. “The finance team should be a core part of the overall management team. This means you will know all the things you need to know about the business and its finances as they happen, rather than find out about them in a report two or three months later.”

Binchy says communication is vital when dealing with people in your business. “You have to remember that you’re dealing with human beings and you should support them in the same way as you support your customers. When you are faced with implementing inevitable pay rationalisation measures you should segment your employees carefully to ensure that those people who are adding most value are rewarded appropriately.”

The final item on the checklist is systems and processes. Along with people, these are the underlying enablers of the business and every element should be assessed to ensure it is delivering value to the business either in terms of revenue generation, service improvement, or efficiency and productivity gains. Regardless of how good a process can appear there is always a better way, Binchy notes.

Businesses seeking to adapt and modify their operations to meet the changed environment created in the wake of the Covid-19 pandemic can avail of support in the form of Enterprise Ireland Lean Business Continuity Voucher and the Covid-19 Business Financial Planning Grant.

The Financial Planning Grant is worth up to €5,000 to pay up to 100% of the costs of an approved financial  consultant to work with the company on the development of a business and financial  plan, while the Lean Business Continuity Voucher is worth €2,500 and can be used for training or advisory services to help them identify and implement the measures needed to ensure they can continue to operate during the current period.

Where additional finance is required to fund new initiatives Binchy points to the Enterprise Ireland Sustaining Enterprise Fund which offers funding of up to €800,000 to eligible companies. 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.

Learn more about the Enterprise Ireland supports available in our Accessing Liquidity & Managing Cashflow webinar

Horizon 2020 – MiniStor – supporting the development of clean and efficient energy

“Taking part in a Horizon 2020 project is a good way to progress not only as a researcher but also personally in terms of management skills. I’ve found the whole experience to be very enriching.”

Dr Carlos Ochoa, Co-ordinator of the MiniStor Horizon 2020 project

 

Overview:

  • Tyndall National Institute in Cork is leading an international consortium that is developing an advanced, compact, integrated solar-powered system that stores heat in a novel way.
  • The project is being significantly funded by the European Union’s Horizon 2020 research and innovation programme.
  • The project is on course to achieve its first milestone of completing a preliminary design by July 2020.

 

MiniStor case study

If two heads are better than one then it goes without saying that multiple research centres, universities and specialist companies working together can achieve more than one. That’s the philosophy that underpins the Horizon 2020 programme. The European Union’s research and innovation instrument has an €80 billion funding pot and is supporting consortia across Europe to transition great ideas from the laboratory to the market.

One of those great ideas is the MiniStor project, the brainchild of Dr Carlos Ochoa of the International Energy Research Centre, which is based at Tyndall National Institute in University College Cork in partnership with Cork City Council.

“In basic terms the MiniStor project is about storing heat from the sun to use later. The heat is captured via renewable energy sources such as solar panels and then stored in special salts, making it much more energy efficient than water-based systems,” explains Ochoa.

The project aims to significantly decrease energy consumption in residential buildings, reducing their overall environmental impact.

 

Building the team

“When I read the Horizon 2020 call for technologies enabling energy-efficient systems and energy-efficient buildings, I made a preliminary sketch of my idea and then we considered what the scope of the project would be and started looking for scientific partners who could help us make the idea a reality,” says Ochoa.

“We needed particular expertise so we began contacting people via websites and LinkedIn to get them interested in the idea. We got help from Enterprise Ireland and the Tyndall European Office to find and contact some key partners.  

“In the end we found 17 other institutions across eight countries who were interested in working with us. Then we were ready to respond to the competitive call.”

 

Applying for Horizon 2020 support

The process of applying for Horizon 2020 support is sometimes perceived as being complex and onerous but, as Dr Ochoa explains, there is plenty of help available.

“It’s true that preparing the application is very time intensive but there are support services available. Nationally, Enterprise Ireland leads the Horizon 2020 support network and their support was excellent in terms of reviewing the main idea to determine if it had some potential; that’s like a reality check. They were also able to give advice on what’s required in the application documentation,” says Ochoa. “I also had a lot of support from within the Tyndall National Institute.”

The application was a success and the project received funding of over 7.5 million, some 87% of its total budget.

“Without Horizon 2020 support this project could not have gone ahead. We may have been able to do something at a much smaller scale but we wouldn’t have had access to the same amount of expertise,” says Ochoa.

 

The experience so far

Ochoa has been a participant in Horizon 2020 projects before but this is his first time as co-ordinator.

“Being the co-ordinator for an international project that has so many participants can be challenging because everyone has their own working style and their particular corporate culture so you have to balance the needs of the partners with the needs of the project. So far it has been working well and we’ve been able to iron out any small issues that have arisen,” says Ochoa.

Now six months into the project the team are closing in on achieving their first milestone – the preliminary design for the MiniStor system.

“It’s not a trivial achievement because all these components have not been combined before.”

Unfortunately the advent of the Covid-19 crisis and ensuing lockdown has impacted on the project. “We have slight delays because we have some demonstration sites, which are actual homes in different countries around Europe. The restrictions are preventing us from entering the houses to do monitoring. So that’s pushing back the timeline for a few months,” says Ochoa.

 

Advice to others

Dr Ochoa is keen to encourage other researchers to apply to Horizon 2020 or its successor Horizon Europe (2021–2027), an ambitious funding programme that will be larger than Horizon 2020 and will begin to roll out next year.

“It’s a good way to progress not only as a researcher but also personally in terms of management skills, which are required if you are aiming for more senior positions. I’ve found the whole experience to be very enriching. Of course it takes a lot of time and effort but it pays off,” says Ochoa.

“My experience of interacting with Enterprise Ireland has been very positive. If you have a question about Horizon 2020 or Horizon Europe they know very well what’s going on and can provide advice, and they are also very ready to give us talks explaining the scope and opportunities presented by EU programmes.”

 

For advice or further information about applying for Horizon 2020 support please contact h2020support@enterprise-ireland.com or consult www.horizon2020.ie