Women Entrepreneurs and Raising Venture Capital Funding – Webinar

 

Hosted by Enterprise Ireland and the Irish Venture Capital Association, this is the second “Women Entrepreneurs and Raising Venture Capital (VC) Funding” focuses on encouraging women-led companies to seek venture capital finance.

The purpose of this webinar is to support companies in all sectors and at all stages of growth that are seeking venture capital finance. There is a specific focus on encouraging and enabling women entrepreneurs to successfully raise VC finance.

It includes panel discussions with women funders and founders, which identifies and provides examples of successful fundraising strategies.

Recognising the under-representation of women in this space, the webinar is targeted at women-founders and co-founders in all sectors and at all stages of growth.

It provides a roadmap for women founders on their investment journey who wish to develop their investment skills and network with other women funders and founders.

    Under the microscope: how Hooke Bio found success

    The brilliant 17th-century scientist Robert Hooke proved an unlikely source of inspiration for an ambitious MedTech company in Shannon.

    “Robert Hooke was the incredible mind behind Hooke’s Law and early microscopy advances. Despite facing many challenges in his life, he was determined and truly ground-breaking in his fields. We see some of ourselves in him,” beamed COO of Hooke Bio, Dr Finola Cliffe.

    Finola has 15 years’ experience in cell culture. In 2014, she joined Hooke Bio, where she now leads a team of scientists and engineers developing technology for 3D microtissues. This technology has the potential to replace the need for animal testing and provide more accurate testing models.

    “It’s fantastic being part of a small company with good intentions. But we often wonder where the next segment of funding is coming from,” Finola says.

    Forging a new path

    The team was initially based at the University of Limerick and it was here they received their first investment under the Enterprise Ireland Commercialisation Fund. By August 2016, this additional support allowed Finola to successfully develop a working prototype. Her team now faced a new challenge.

    “It took us months to get hold of usable data. Then it dawned on me, ‘this is going somewhere but we don’t have enough runway.’” she says.

    While the first fund allowed the team to build a working prototype, a second would allow them to take things further again. In 2017, the team successfully secured a second Commercialisation Fund to build a more robust prototype on a larger scale. Even with new financial support, Finola was still concerned.

    “We knew technology. But we were green behind the ears in how to market a product. This was a massive challenge for us to overcome. We needed to understand how to position ourselves – the funding helped with this and was the first stepping stone.”

    Leaping into the unknown

    Through the Enterprise Ireland mentorship programme, Terry Sullivan, former MD of Clonmel Healthcare, was enlisted to help with the next step – selling the idea. He, along with Prof. Mark Davies, the founder of Hooke Bio, devised a plan around costs and milestones with the team.

    The Transfer Technology Offices (TTO) became more involved. They’re responsible for technology transfer and aspects of research commercialisation at universities. Working closely with Enterprise Ireland, TTO contacted experts who could share further insights into larger pharmaceutical companies like Pfizer, Novartis and AstraZeneca.

    “It was a steep learning curve but we learned a lot during this time. We were beginning to understand how to best pitch ideas to research and development units. The Market Research Centre was like gold dust for us,” says Finola.

    As part of Enterprise Ireland, the Market Research Centre offered access to free reports that would typically cost thousands of Euros. This provided important knowledge on the competition and proved crucial in seeking investment.

    Reaching the masses

    The team eventually finished a business plan and began networking with potential investors in Ireland. The media was one way to be heard.

    “We got our name out there, did interviews with journalists and told our story. It was something new to us, but our confidence grew,” she says.

    Finola noticed that investors were becoming more familiar with the company. Having won the Big Idea Showcase in 2017, even more investors came forward.

    “We were getting a lot of traction and that was worth an awful lot to us. We have grown so much since the initial funding.”

    Finding a new home

    It wasn’t long until the team secured its initial investor funding and spun out of the University of Limerick. However, more funding would be needed to secure new premises and set up labs.

    In early 2019, after the team secured disruptive technology and innovation funding, they moved to Shannon. Their new premises contain offices, engineering labs, and workshops, making it an entirely self-sufficient business.

    “We don’t need to outsource anything, which is quite unusual for a company of our size,” she says. “We can make all our prototypes in-house – we can mill stainless steel, acrylic, mostly any material we want. A lot of components are needed when testing.”

    Believing in yourself

    Enterprise Ireland’s Commercialisation Fund has opened up a world of opportunities for Finola and her team, helping them on a path to success.

    The company has just completed its second round of investment and released two new patents. In Jan 2019, Hooke Bio won €1.9m in the first round of funding through the Disruptive Technologies Innovation Fund, in collaboration with The Centre for Advanced Photonics and Process Analysis and NUI, Galway.

    For anyone thinking of embarking on a new journey with Enterprise Ireland, Finola has some advice: “Communication is everything. If you’re unsure of next steps, just go for it and pick up the phone – if you don’t try, you’ll never know”.

     

    Discover how to take your idea from lab to market with Enterprise Ireland’s Commercialisation Fund.

    Terence O'Rourke, Jennifer Melia and Leo Clancy at Enterprise Ireland Start-Up Showcase 2022

    Start-Up Showcase: Demonstrating Ireland’s strength in supporting entrepreneurs

     

    Events over the past few years have made the business environment challenging to navigate but have also presented some unprecedented opportunities for Ireland’s innovative and dynamic entrepreneurs.

     

    Enterprise Ireland’s aim to support start-ups

     

    In a rapidly changing world, innovation is vital, making it so important for Enterprise Ireland to nurture and support promising ideas and those who produce them.

     “We have a hotbed of talent and innovation in Ireland right now, so it’s more imperative than ever that our entrepreneurs are given the time, funding and advice to excel on a global scale,” says Jennifer Melia, Divisional Manager, Technology and Services Division at Enterprise Ireland.

    “At Enterprise Ireland, we aim to support and enable Irish businesses to lead in a changing world – and an integral part of this is those ambitious start-ups with innovative solutions to tackle global problems.”

     

    125 start-ups attend Start-Up Showcase 2022

     

    Our strength in innovation was recently demonstrated in Enterprise Ireland’s 2022 Start-Up Showcase, which was held in the Aviva Stadium on Thursday, 7 April.

    Making a welcome return in person – last year’s Start-Up Showcase was wholly virtual – the event was attended by the ‘Class of 2021’. This included 82 new High Potential Start-Ups (HPSUs), 43 approved Competitive Start Fund companies (CSFs) and representatives from each of the 32 New Frontiers programmes we supported during the year.

    This number was on a par with previous years; considering the difficult business environment in 2020 and 2021, this is testament to the resilience of Irish start-ups and entrepreneurs.

    Interestingly, and reflecting Enterprise Ireland’s commitment to supporting diversity in leadership teams, 24 of the 82 HPSUs and 16 of the 43 CSFs were led by female founders.

     

    Learning from other success stories

     

    “Investment and funding is only part of the recipe for success for a start-up,” explains Jennifer. “Learning from peers and those who have been on the starting and scaling journey already plays an important role in future success.

    As a result, this year’s conference element at Start-Up Showcase aimed to tackle two of the most important subjects for start-ups.

    The first panel focused on ‘Disruption and Customer-Led Innovation’. It featured Silvercloud Co-Founder and CEO Ken Cahill, Novus Diagnostics Founder and CEO Elaine Spain, and ACT VC General Partner John O’Sullivan.

    Centaur Fund Services Founding Partner and CEO Karen Malone, Kyte Powertech CEO Stephanie Leonard and Cubic Telecom CEO Barry Napier then shared their experiences on ‘Building a Strong Team and Funding for Scale’.

    The conference then ended with a keynote speech from LearnUpon Co-Founder and CEO Brendan Noud as his company, a HPSU from the Class of 2013, goes from strength to strength.

     

    Returning to an in-person Start-Up Showcase event

     

    Due to the public health measures, last year’s event was wholly virtual due to the ongoing Covid-19 pandemic. But this year’s was both live streamed and in person.

    “As the start-ups would have begun their journey during lengthy lockdowns and travel restrictions, this event, in many cases, was one of the first opportunities to meet such an influential group of people – as well as their peers – in person,” says Jennifer. “There was a real buzz in the air.”

    “In total, there were 500 attendees including representatives from the Irish start-up ecosystem, including VCs and other funders, State support agencies, strategic company partners and professional and financial services, Government departments, academics, business mentors and Local Enterprise Offices.”

     

    Innovation and resilience among the Start-Up Showcase Class of 2021

     

    As companies that formed during the second year of the pandemic, the ‘Class of 2021’ have shown innovation and resilience like never before. Proving that Ireland is the “go to” country when it comes to finding global solutions, these companies produced a number of solutions in many sectors, including digital health, fintech, medtech, software, sustainability and more.

    “The ‘Class of 2021’ is really impressive,” says Jennifer. “Take a look at Amnexis Digital Solutions, based in the Guinness Enterprise Centre, a digital health company that records patient data efficiently, therefore reducing the administration workload on hospital, homecare and nursing home staff.”

    And there’s more to come. Although we are only a few months into 2022, already the easing of restrictions has resulted in a renewed energy in Ireland’s start-up community.

    “Next year’s Start-Up Showcase is looking promising even now, with a strong pipeline of promising entrepreneurs with intriguing prospects making waves across Ireland, both first-time and repeat entrepreneurs.”

    The future has never been more exciting for Irish entrepreneurs to Lead in a Changing World.

     

    Find out more about Enterprise Ireland’s supports for High Potential Start-Ups or watch the recording of the Start-Up Showcase 2022 conference.

     

    GA Bringing Irish healthcare innovation to the world - Minister Stephen Donnelly attends Arab Health expo

    Bringing Irish healthcare innovation to the world

     

    There have been many headlines about the strength of the Irish medtech sector, especially in the wake of the Covid-19 pandemic. Many of our indigenous life sciences companies are making waves in every corner of the world, and big economies such as the US are looking to Ireland for innovative solutions for every aspect of healthcare.

     

    The Arab Health exhibition

     

    This strength was demonstrated at this year’s Arab Health, the leading exhibition in the MENA region for the healthcare industry. The 2022 event took place at the Dubai World Trade Centre from 24 – 27 January and was followed by an online event from 31 January – 10 February.

    Enterprise Ireland had a significant presence at the event, showcasing the work of 14 companies. An additional six client companies also attended the show.

    The influence of Arab Health cannot be underestimated. For many years, it has been a major event for connecting clinicians, procurement professionals, dealers and distributors from all over the world. This year, more than 3,500 exhibitors took part and over 56,000 healthcare professionals attended, all eager to see the latest innovations.

     

    The changing healthcare landscape

     

    The theme of this year’s event was ‘United by Business, Forging Ahead’, which reflected the importance that new technologies and innovation have in today’s rapidly changing global healthcare industry. According to Eamon Sikafi, Commercial Counsellor – Middle East & North Africa at Enterprise Ireland, this means plenty of opportunity for Irish companies.

    “The Gulf Cooperation Council (GCC) is a prosperous region with plenty of opportunities for Irish healthcare innovators,” Eamon explains.

    “For example, digitalisation is very much at a pilot stage in most GCC countries, offering significant opportunities for Irish companies working in this sector.”

    “Another trend is the move to domestic drug production. Currently, over 90% of the market is driven by imported drugs, but a rising number of collaborations between multinational companies and domestic manufacturing looks set to change this.”

    “A third area in which Irish companies are particularly strong is medical technologies. The GCC medical technologies market accounts for 2.7% of global revenues, but currently the sector is dominated by imports. Domestic manufacturing is still in its early stages and accounts for less than 20% of market revenues.”

     

    Opportunities for Irish companies in healthcare innovation

     

    Enterprise Ireland market advisors have identified areas in the region that are filled with opportunities for Irish companies between now and 2030.

    Electronic Health Records (EHR), artificial intelligence for radiology, robotic surgeries and patient engagement platforms for pharmaceutical companies are predicted to become a $2 billion market by 2030,” Eamon says.

    “The number of hospitals across the GCC is expected to triple by 2030. Primary care clinics, e-clinics and micro hospitals will represent new areas of investment focus over the next decade.”

    Public Private Partnership (PPP) opportunities will support growth across the region, with at least 40% of private sector healthcare growth driven by PPP. Investment in cancer treatment technologies will surge as early diagnosis of cancer is likely to increase by 10% by 2030.”

    “Collaboration between hospitals and companies to develop corporate wellness programs will become a $2 billion market by 2030. And, medical consumables manufacturing is likely to emerge as a $30 billion market by end of 2030, with Saudi Arabia poised to become a regional hub by 2023.”

     

    Irish success stories in healthcare innovation

     

    AceTech

    Irish company AceTech has built up business in the region worth €10 million, working in the areas of safety, patient care and AI software for several ambulance services in GCC countries and cities.

     

    Aerogen

    Galway-based Aerogen, a leader in aerosol medication delivery systems, opened an office in Dubai in 2018 and has grown significantly in the region since the start of the pandemic. Most recently, the company announced a major deal with Gulf Medical, a market leader in medical device distribution in Saudi Arabia.

     

    Fleming Medical

    Fleming Medical began operating in the region in 2014 and currently services several GCC countries, including Saudi Arabia, Qatar, the UAE, Kuwait and Oman. This year, the company plans to expand operations into Iraq and North Africa, growing business by 25% by the end of 2023.

     

    Contact Eamon Sikafi to find out how Enterprise Ireland can help you explore healthcare innovation opportunities in the Middle East.

     

    A man and woman wearing headsets for immersive entertainment purposes

    The Irish businesses making waves in the immersive entertainment sector

     

    Irish people have a long and proud history of storytelling. From the ancient seanchaí to poets, musicians and novelists, the Irish ability to tell a story in an unforgettable and imaginative way is famous across the world.

    With storytelling at the core of today’s artificial reality (AR), virtual reality (VR) and immersive experiences, combined with Ireland’s reputation for excellence in technological innovation, it should come as no surprise that several Irish companies are making waves in this sector.

     

    Overview of the immersive entertainment sector

     

    “The immersive entertainment sector actually grew during the Covid-19 pandemic,” notes Bartosz Siepracki, Senior ICT Market Advisor, Poland and Baltics, and Global Digital Entertainment Sector Lead at Enterprise Ireland.

    Cinema restrictions resulted in more people looking for immersive entertainment experiences at home. As a result, consumers worldwide spent $9.9 billion on AR and VR during 2020.”

    “During the same period, just $7 billion was spent on cinema attendance. Investors are recognising this growth and responding accordingly. This means there are plenty of opportunities for Irish companies looking to enter the sector.”

    These opportunities become even more significant when the impressive long-term predictions are taken into account.

    A report on Statistica predicts that the global immersive market will grow to almost $300 billion by 2024. This means that immersive media will be as significant to us as mobile apps are today.”

    “There is another piece to this fast growth,” notes Bartosz. “With this being such a rapidly growing and developing industry, companies entering the sector today will play a valuable role in shaping the world of immersive entertainment over the coming decades.”

     

    Opportunities for Irish companies in immersive entertainment

     

    Recognising the massive potential of this growing sector, Enterprise Ireland is supporting Irish companies that wish to enter or increase their presence in the industry.

    As part of this, a new guide, ‘Opportunities in Immersive Media Entertainment’, has been developed by the UK-based Limina Immersive consultancy in partnership with Enterprise Ireland to help Irish entertainment companies recognise, prepare for and take advantage of these opportunities globally.

    Headed by globally recognised expert Catherine Allen, Limina is also currently working with several Irish SMEs branching out into the sector.

    “The guide looks at the current immersive entertainment market and the areas of growth over the coming years, along with the digital technology trends, investment opportunities and advice on getting your immersive entertainment projects off the ground.”

     

    Irish businesses that found success in the sector

     

    Engage XR

    “Many Irish companies are already finding success in the area,” says Bartosz. “For example, Engage XR (previously known as Immersive VR Education) launched a VR documentary in April 2016, ‘Apollo 11’, with the help of a Kickstarter campaign. It’s based on NASA’s original material from the first lunar expedition in 1969. It allows the user to fly the command module, operate the lunar lander and carry out experiments on the moon.”

    “Since then, the company has developed its ENGAGE platform, which enables VR education, collaboration and events. This is now used by over 130 commercial customers including Fortune 500 companies Meta and 3M.”

     

    Volograms

    Another area of growth is in volumetric filmmaking, most notably how to make it easy and affordable for both professional headsets and mobile experiences. “Volograms has developed state-of-the-art deep learning algorithms powering 3D reconstruction, multi-view texture mapping and many more important features,” says Bartosz. “Its mobile app allows anyone to capture volumetric video of someone, resize it and place it in a different context.”

     

    Pink Kong Studio

    Ireland’s animation industry has long been admired for its carefully crafted stories for both adults and children. Naturally, this sector is playing a big role in advancing the world of immersive entertainment too. “Most famous of all is Aurora, developed by Pink Kong Studio in 2018,” says Bartosz. “Aurora is an emotional story about a family of three living in a forest and has received multiple accolades around the world. These include the 2018 Monolith Award for ‘Outstanding Achievement in Immersive VR’ from Infinity Film Festival Beverly Hills.”

     

    Algorithm

    Irish companies are taking the technology to the outdoors too, for everyone to enjoy. “Living Canvas was developed by Algorithm and is noted for bringing technology into the cultural sphere,” explains Bartosz. “It’s one of the world’s first outdoor digital screens used exclusively for artistic and cultural content. It’s currently located in Wilton Park where it operates as an exciting open-air gallery. Anyone living in or visiting Dublin can experience this wonderful new technology for themselves.”

    “People don’t need a complicated entertainment system or even a top-of-the-range phone to experience this new world.”

     

    Contact Bartosz Siepracki to find out how Enterprise Ireland can help you explore opportunities in the immersive entertainment sector.

    Irish companies are rocketing into the space industry - Image of space and galaxies

    How Irish companies are rocketing into the space industry

     

    Ireland may not be the first country to spring to mind when you talk about space travel or exploration, but recently this industry has proved itself to have plenty of opportunities for Irish innovation, both from companies and research bodies.

     

    The James Webb Space Telescope

     

    Many businesses based in Ireland are already working in the area, thanks to our involvement with the European Space Agency (ESA). What’s more, several Irish companies are now playing a pivotal role in some of the most thrilling and high-profile space missions.

    One such mission was the launch of the James Webb Space Telescope (JWST, or simply Webb), the next great space science observatory following the famous Hubble Telescope.

    The Webb was launched from ESA’s spaceport in Kourou, French Guiana, on Christmas Day 2021. It now resides one-and-a-half million kilometres from Earth, hovering in line with our planet as it orbits the sun.

    Over 25 years in development, the Webb telescope has the ability to look back 13.5 billion years in time to observe the birth of the first galaxies and the lifecycle of stars and exoplanets.

    Webb follows the Hubble Telescope in the line of great space observatories. Both have different scientific capabilities and will operate together, complementing each other, for several years.

    In fact, according to Bryan Rodgers, Senior Development Executive at Enterprise Ireland and a member of the Irish delegation to the ESA, Webb has the capacity to do far more than the Hubble.

    “The Webb has over six times the light-gathering capacity and is a hundred times more sensitive, with the ability to peer through clouds of dust by capturing light in the infrared part of the spectrum.”

    “By looking back to the early universe using infrared detectors, Webb hopes to answer some vital questions about the formation of our universe, the make-up of so-called dark matter, and what the development of galaxies can tell us about the future of the universe.”

     

    How Irish companies contributed to the development and launch of the JWST

     

    Webb is the result of an international project led by NASA with the ESA and the Canadian Space Agency (CSA). Within the ESA’s contribution, two Irish companies and an Irish research institute played significant roles in the development of the Webb’s scientific instruments and in its launch into space.

    “Firstly, there was significant Irish input into the development of the infrared detector technology,” comments Bryan. “Professor Tom Ray of the Dublin Institute for Advanced Studies (DIAS) was Co-Principal Investigator for the Mid-InfraRed Instrument (MIRI) on Webb, which will produce images and spectra with unprecedented sharpness and sensitivity.”

    “Professor Tom Ray and his team from DIAS also provided MIRI’s infrared filters, which breaks up the light into its various components, and imaging software that will analyse the instrument data sent back to Earth and produce scientific images.”

    An Irish company also played an important role in Webb’s launch into space via an Ariane 5 launcher.

    Réaltra Space Systems Engineering designed and manufactured the video imaging system onboard the Ariane 5 launch vehicle, which gave us impressive high-definition video images of the separation of the launcher’s fairing and separation of the telescope itself,” says Bryan.

    “The final images of Webb moving into space on Christmas Day in 2021 came from Réaltra’s technology.”

    Interestingly, Réaltra’s system was originally designed for the Ariane 6 launch vehicle, which is due its first flight in the second half of 2022.

    “In addition, a second Irish company, Nammo Ireland, provided structural supports for the Vulcain engine that powers Ariane 5 – and will be involved in producing components for both the Vulcain and Vinci engines on the new Ariane 6 launch vehicle.”

     

    Opportunities for Irish businesses in the space industry

     

    The involvement of these Irish entities came about as a result of Ireland’s membership of the ESA, which is managed through the Department of Enterprise, Trade and Employment.

    Enterprise Ireland plays a huge role in enabling this work, by supporting and guiding Irish companies and research institutes in developing technologies through ESA programmes, and in commercialising these technologies in the worldwide space market, with over 100 companies supported to date.

    “The success of the Irish entities involved in the ground-breaking JWST project underlines the growth in opportunities in the commercial space market for innovative Irish companies with exciting technologies that can be used in many different sectors, such as automotive and medical,” notes Bryan.

    “These opportunities will only become more plentiful as our understanding of space grows and develops. We are confident that more Irish companies will be involved in such thrilling projects in the future.”

     

    Contact Bryan Rodgers to find out how Enterprise Ireland can help you successfully bid for European Space Agency contracts or explore other opportunities in the space industry.

     

    graph with export data

    Using market intelligence to inform your export plan

    The saying that ‘knowledge is power’ is certainly true of successful exporting. Companies must understand their customers’ requirements, cultural considerations, market trends and what competitors in the market are doing, in order to succeed.

    Insights gained from high-quality market research are essential for good business decisions for companies with the ambition to grow, export and, indeed, survive. While successful products and services are built on sound market research, a continual process of keeping up-to-date with business intelligence is required, which can be time-consuming and costly.

     

    Market Research Centre

    That is one reason Enterprise Ireland’s Market Research Centre is such a valuable resource. It is the largest repository of business intelligence in Ireland and contains thousands of world-class market research insights, available to Enterprise Ireland supported companies.

    Reports include company, sector, market and country information, which help businesses to explore opportunities and compete in international markets. We use databases from blue-chip information providers such as GartnerFrost & Sullivan, Mintel and others, which provide authoritative, verified information that is independent and reliable. Some of these reports cost tens of thousands of euro individually, so the value of accessing the service is immense.

     

    Using market intelligence to assess new markets

    The Market Research Centre is staffed by eight information specialists who help clients locate the most appropriate sources of knowledge for their requirements. The specialists can track down niche market intelligence that is not available through internet research and can also facilitate access to industry analysts to provide bespoke briefings that deep-dive into subject areas.

    While the UK and European markets remain vitally important for exporters, increasingly diversification into more distant markets is a strategic option. Critical to all such business decisions is access to authoritative market research.

     

    Using insights to make an impact

    An example of how the centre helps companies to explore opportunities in overseas markets is workforce travel company Roomex. Over the last two years, the company has targeted the UK and Germany and is now looking at the huge potential of the US market. Information specialists helped the company gain valuable insights by providing access to global company, country, market and sector data which helped the Roomex to analyse their target customer and competitor base.

    Enterprise Ireland’s research hub offers access to extensive predictive research on future trends, which is invaluable for companies interested in innovation. Knowledge of what might impact a market next provides an opportunity to develop new products or solutions. There are huge opportunities arising from disruptive technologies, such as driver-less cars, but also risks to companies which are not looking ahead

    Growing your business

    Companies which are serious about exporting, growing and future-proofing their business should put continuous research at the heart of their strategy. If your company is considering expanding into new markets the Market Research Centre’s extensive resources and expertise should be your first port of call.

    Contact the Market Research Centre today.

    UK Water Sector: Trends and Opportunities 2022-2025 – Webinar

     

    In 2020 the UK water sector embarked on AMP 7, its five-year infrastructural spending cycle worth £51 billion. This sum covers a wide array of areas, from decarbonisation to digital, with plenty of opportunities for businesses across the supply chain to get involved in the sector.

    This webinar discusses the trends and opportunities in the sector across the regulator’s five key themes, as well as AMP 8.

    Topics discussed:

    • Environmental Protection

    • Carbon Reduction and Resilience

    • Digital Agenda

    • Customer Service

    • Collaboration and Innovation

    • Value for Money

    • The Future of the Sector and AMP 8

      Construction in the UK: A Guide to Legal Challenges and the UKCA Mark – Webinar

       

      In this webinar the speakers discuss some of the main legal and regulatory issues currently facing contractors, employers and suppliers in the construction sector across the Republic of Ireland, Northern Ireland and Great Britain.

      This webinar also discusses the UKCA mark, the new UK product marking that will replace the CE mark on 1 January 2023 in Great Britain and Northern Ireland. The UKCA mark will be required for construction products being placed in the market. We will also discuss the process of how to certify your products with the UKCA marking.

      Speakers Include:

      • Jamie Ritchie, Partner, LK Shields

      • Dominic Jones, Partner, Blake Morgan

      • Lisa Boyd, Construction and Procurement Lawyer, Gateley Tweed LLP and Gateley Legal

      • Robin Byrne, Head of UK Office, NSAI Certification UK

        Insights into the Commercialisation of Diagnostice webinar

        Insights to the Commercialisation of Diagnostics

        Enterprise Ireland UK in collaboration with Roche Diagnostics, the world’s largest biotech company and the world leader in in vitro diagnostics, examined the route to commercialisation, market access and economic modelling in this Insights into the Commercialisation of Diagnostics webinar.

        Forming unbreakable bonds: how Plasmabound found success

        “This goes against science,” marvelled Nick Barry, a tech inventor and founder of PlasmaBound.

        It was 2013, and Nick was working for the UCD-based Irish Centre for Composite Research (IComp).

        Excitedly, Nick asked his professor, Denis Dowling, to look at the testing sample.

        “Okay, I think we have something”, confirmed Prof. Dowling.

        Nick had discovered a new process for bonding composite materials like carbon fibre. A solution that could help automotive, aerospace, marine, and electronics manufacturers build even stronger, lighter products.

        Finding a solution

        Nick quickly realised the significance of his findings and was determined to develop a product for the market.

        New design opportunities beckoned. Companies could potentially build significantly cheaper solutions without metal fixings and, importantly, reduce their CO2 footprint globally.

        “When I developed the solution, I immediately thought ‘product’. Fortunately, I’d been aware of the Commercialisation Fund since my PhD days, so it was always in the back of my mind,” says Nick.

        “I saw a benefit to the human race. So, I went home to my partner (and now wife) and told her repeatedly how exciting it was!” he laughed.

        Forging a new path

        Hugh Hayden, UCD Case Manager of the Technology Transfer Office (TTO), was on hand to provide support. After viewing the solution and reviewing UCD’s internal Invention Disclosure Forms, he agreed that this would be a perfect project for Enterprise Ireland’s Commercialisation Fund.

        Things moved quickly from there. The TTO reached out to David Flood, Commercialisation Specialist at Enterprise Ireland.

        Over a cup of coffee, David listened closely to Nick’s story and was blown away by the project’s potential. David then dug deeper into Nick’s solution, working out what would be needed to commercialise a minimum viable product (MVP).

        “David was fantastic in reflecting the fund’s requirements. You might say, he gave me the sandbox in which to build my castle,” says Nick.

        Removing barriers

        With funding secured, Nick began developing an MVP. He went about ensuring the technology could treat a number of complex composite materials at scale.

        Barriers to the market had to be removed. Nick and his team contacted industry leaders to communicate the idea. The MVP was a game-changer – Nick needed to show companies how it could reduce the weight of their products and their carbon gains.

        Searching for answers

        The MVP was demonstrated at three different sites. With potential customers in attendance, demonstrations took place at FiftyOne Bikes in Dublin, Custom Composites in Meath, and ÉireComposites in Galway.

        “We needed to show that we could meet required specifications with certain materials. So, that’s exactly what we did,” says Nick.

        In the first 12 months, Nick had 11 letters of interest from firms. To drive the project forward, Nick took it upon himself to gather feedback and learn what was needed in the short and long term.

        “After a couple of rounds of feedback, we were successful in gaining support. But it was only once we had secured the Commercialisation Fund

        Thinking bigger

        In 2017, Nick was ready to take the next step by forming a spin-out company.

        “It was the logical next step. But I had no idea what it would take to grow a company. Enterprise Ireland helped us understand each step and what was required,” says Nick.

        His brother Alan Barry came on board as CEO, a serial entrepreneur, who had followed the project closely from a very early stage. Xavier Montibert joined as Commercial Director in 2018, bringing connections with industry leaders and a proven track record of delivering innovation.

        PlasmaBound continued to grow and recognition quickly followed. In 2018, the company reached the final of Enterprise Ireland’s Big Ideas and featured in The Ones to Watch and SBP’s 100 Hot Start-Ups. Nick and his team aren’t stopping there.

        “The start-up journey is going extraordinarily well,” beams Nick. “The team is motivated and everyone’s excited about what the future holds.”

        Believing in yourself

        Enterprise Ireland’s Commercialisation Fund helped Nick on his path to success. Subsequently, his confidence grew.

        “The project gave me faith that I could actually do this. Having an organisation like Enterprise Ireland demonstrate trust in your idea makes you feel good about yourself. Sometimes science is all about confidence.”

        For anyone embarking on their own project, Nick has some advice: “Remember, be positive. Always communicate with those close to you and enjoy the journey.”

         

        Discover how to take your idea from lab to market with Enterprise Ireland’s Commercialisation Fund.

        Eoghan O Connor Enterprise Ireland

        The Nordics: Opportunities abound for ambitious Irish exporters

         

        As an island nation, the export economy is essential for the health and growth of Irish companies. Our reputation for innovation and entrepreneurship has served us well in that regard, with Irish companies finding huge success in every corner of the world. Key markets such as the UK, the US, France and Germany remain hugely important, but ambitious Irish exporters are exploring other countries that are actively looking for the products and solutions produced by Irish entrepreneurs – and finding a whole new world of opportunity. A region that is growing rapidly in importance for Irish business is the Nordics, an area made up of Sweden, Denmark, Norway, Finland, and Iceland.

        Currently, over 450 Enterprise Ireland supported companies export to the Nordics, with exports reaching a remarkable €1.16 billion in 2020. It’s easy to see why this region is so attractive, home to 26 million inhabitants, the Nordic region is the 11th largest economy in the world. 

         

        The Nordic market

        Irish companies have a strong track record and reputation here, says Eoghan O’Connor, Market Executive, ICT & Start Ups, Enterprise Ireland. “The Nordics are known for being progressive, stable, and open to new technology.”

        “As a region that is culturally and geographically close to Ireland, Nordic countries should be considered our home markets and natural partners in terms of trade and business cooperation. English is widely spoken and like Ireland, a huge emphasis is placed on innovation.”

        This innovation can be seen in the number of household names from the Nordics. For instance, within the Nordic ecosystem are global companies like H&MNokiaVolvo, Maersk, and Ericsson. In addition, outside of Silicon Valley, the Nordics have generated the highest number of unicorns per capita globally, including companies like Spotify, Mojang (creators of Minecraft), Oatly, and Klarna

        “The success of these companies is down to the ecosystem, which is a fertile ground for innovation and entrepreneurship,” explains Eoghan. “Their comprehensive welfare state provides citizens with free education, healthcare, and social security and their public sector provides a strong framework for the ecosystem with opportunities for funding and other supports. There is also a dedicated focus on R&D and in general they are a population of early adopters of new technology.”

        “This makes the Nordic region a great starting point for Irish companies looking to establish a foothold in the European markets and scale their businesses internationally from here.”

         

        Success for Irish companies in the Nordics

        Already there are several very successful Irish companies in the region, all of which offer clever solutions in several different areas. “These include WAZP, an Enterprise Ireland High Potential Start-Up (HPSU) that specialises in the production of 3D printing materials, which has forged a partnership with IKEA, one of the most globally recognised brands,” says Eoghan.

        “In addition, iCabbi, a Dublin cloud-based taxi firm, have a contract with Finnish taxi company Meneva, which has grown its fleet from 100 cars to over 1,500 since joining iCabbi over two years ago.”

        A key term in today’s global business world is sustainability, a significant area of growth as we race towards ambitious goals of net zero emissions. The Nordic countries have been long considered leaders in this field, especially in the area of environmentally friendly transport options, such as public scooter schemes.

        “Irish companies are playing their part here also,” says Eoghan. “For instance, Luna Technologies, which develops AI tech for the e-scooter market, has partnered with Swedish scooter giant Voi, while Zeus has rolled out scooters in Oslo, Halmstad, and Karlstad.”

         

        Springboard to success

        These Irish companies have found huge success in the region – but there’s plenty more opportunity for ambitious Irish exporters who will find an open and welcoming market for their innovative products and solutions. To demonstrate the Irish Advantage to the Nordics, Enterprise Ireland showcased Irish innovation at SLUSH, a global-leading event for start-ups and the largest of its kind in the Nordics, which took place in December 2021 in Helsinki.

        The event is considered a hotbed of start-up talent; the sold-out 2021 event attracted 8,000 attendees, over 3,200 start-up founders, and 1,500 investors, all of whom travelled from every part of the world. Irish attendees included seven companies, some already successful in the region along with some newcomers that have compelling offerings for this market

        These included Boundless (B2B SaaS technology), MyPatientSpace (life sciences), Educatly (higher education), PlantQuest (oil & gas and data centres), Zeus (transport and mobility), Social Talent (learning and development), and Tito (events & ticketing).  

        The event acted as a springboard for Irish companies looking to expand their offerings in this prosperous region, keen to avail of the positives of trading in an area that values innovation, flexible working relationships and timely solutions to the issues that really matter in today’s world – everything that Irish enterprise is revered for.

         

        If you’re interested in exporting to the Nordics, contact the Enterprise Ireland Nordics team.