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The Minister for Jobs Enterprise and Innovation, Richard Bruton TD, today (Tuesday) announced €21m in funding is available to support the commercialisation of research in 2013. The objective of the funding, which will be provided through Enterprise Ireland’s Commercialisation Fund, is to accelerate the development and commercialisation of innovative new products and services and increase the number of new technology-based start-up companies.

The Fund is available to researchers in the third level sector to commercialise ideas and inventions at all stages of development that will help to create and sustain jobs in Ireland and improve the competitiveness of the Irish economy. Commercialisation Fund projects address a gap or need in the market by developing innovations that will ideally be ready for licensing to Irish industry or may form the basis of a new start-up company in 2-5 years.

Making the announcement Minister Bruton said: “Over the past decade, Ireland has built a system of research and innovation that ranks extremely well internationally – the challenge now at a time of jobs crisis is to put in place measures that will turn these achievements into economic growth and jobs. Through the Action Plan for Jobs we have implemented a range of changes aimed at turning good ideas into good jobs, including the research prioritisation exercise, the creation of a Central Technology Transfer Office, a one-stop-shop for commercialising research out of universities, and the establishment of new Technology Centres.

“This fund will provide support for projects seeking to take innovations and develop them into commercial products and services that can sustain businesses and ultimately create jobs. This is a very positive initiative which focuses on bringing research projects to life. It provides the resources that allow research teams to move from concept to market”.

So far this year, Enterprise Ireland has funded 24 commercialisation projects valued at €5.3m across a wide range of areas including ICT, Lifesciences, Food, Manufacturing, Engineering and Energy.

The Commercialisation Fund is a component of the Governments research prioritisation policy and is one of a number of initiatives designed to deliver economic impact from the State’s investment in science and technology.

Announcing the call for Commercialisation Fund applications, Director of ICT Commercialisation Gearoid Mooney said: ‘The Commercialisation Fund is making a real difference in terms of business growth and competiveness in Ireland. The breadth of projects targeting new market opportunities is remarkable. Projects funded so far this year range from a vaccine to protect against harmful bacteria commonly affecting cystic fibrosis patients to the development of a fuel cell power module which will turn hydrogen into electricity in a more cost effective and efficient way.’

Enterprise Ireland are currently seeking applications to the Commercialisation Fund, the closing date is August 28th.

ENDS

For more information please visit: www.enterprise-ireland.com/commercialisation

Or contact: Ciara Clogher t: +353 1 727 2725, m: +353 86 0759268, e: Ciara.clogher@enterprise-ireland.com

Press Office, Department of Jobs, Enterprise and Innovation: press.office@djei.ie, Ph: 01-6312200

NOTES FOR EDITORS

Overview

The aim of the Commercialisation Fund Programme is to improve the competitiveness of the Irish economy through the creation of technology based start-up companies and the transfer of innovations developed in Higher Education Institutes and Research Performing Organisations to industry in Ireland.

In 2013, the programme will fund the development of innovations at all stages of the commercial pipeline to the point where they can be commercialised as new products, services and companies.

Commercialisation Fund Support is available for projects that address a gap or need in the market by developing innovations that will ideally be ready for licensing to Irish industry or may form the basis of a new start-up in 2-5 years. It is recognised however that some innovations may need a longer time to get to market than others.

Funding is also available in the form of a Commercial Case Feasibility Grant to investigate, scope and develop a commercial case for your innovation in advance of submitting a Commercialisation Fund support application to the programme.

Am I eligible?

Researchers in third level institutions and non-profit research agencies and organisations in the Republic of Ireland are eligible to apply.

Maximum funding level

Proposals with costs typically ranging from €80,000 to €350,000 from all disciplines in the field of science and engineering will be accepted. Proposals with costs outside this range will be considered on a case by case basis.

How to apply

· You should seek the advice of your Technology Transfer Office (or equivalent) and Enterprise Ireland at least one month before planning your application.

· Visit www.enterprise-ireland.com/commercialisation where you can:

o Review the CF2013 Reference Document.

o Review the Guidelines for Completing CF2013 standard application form.

o Download and complete the CF2013 Standard Application Form.

o Consult Frequently Asked Questions (FAQs) when completing the application form.

· Post the Application Form complete with the relevant signatures to the:

Contracts Unit - Commercialisation Fund Programme,

Enterprise Ireland,

East Point Business Park,

The Plaza,

Dublin 3.

· Email a copy of the proposal as a single MS Word document to commercialisation.fund@enterprise-ireland.com

Call close date

The 2nd call for applications in 2013 will close at NOON on 28th August, 2013.

Proposals can also be invited at any time by a Director of Enterprise Ireland's three Technology Directorates, namely Lifesciences and Food, ICT and Manufacturing, Engineering and Energy Commercialisation. Invited proposals may include:

· Resubmissions from a previous call where the proposals have been strengthened based on the panel comments and the Director is satisfied to invite the proposal for submission.

· Proposals where the commercial case for the innovation has been well developed through interaction with the Technology Transfer Office or equivalent office and Enterprise Ireland and the Director is satisfied to invite the proposal for submission.