Two Irish start-ups get EU funding for breakthrough tech projectsSarah Harfordon January 19, 2022 at 09:09 Silicon RepublicSilicon Republic
Two Irish projects are among 42 selected for EU funding to help take breakthrough tech from the lab into the real world.
The funding comes from the European Innovation Council (EIC), which aims to support the commercialisation of high-risk technologies. In the first ever EIC Transition call, 42 projects were chosen from 292 submissions.
Successful projects will receive a total of €99m in EU funding, with teams coming from 24 countries. Among these are submissions from two Irish start-ups.
Galway-based Relevium Medical, led by NUI Galway’s Dr Alison Liddy, is receiving more than €2m to develop a triple-action injectable treatment for osteoarthritis. Cork’s Helixworks Technologies, which is focused on DNA data storage, will also get more than €3m for its intelligent molecular storage system.
The EIC was launched last year as part of the €95.5bn Horizon Europe research and innovation initiative. It was given a budget of €10bn over seven years to develop breakthrough innovations in the EU.
A key element of this is the EIC Accelerator for scaling start-ups and spin-outs, which has selected several Irish companies for funding in recent months.
But the EIC Transition scheme is focused on turning research results into commercially viable ventures, helping teams validate tech from the lab in real-world settings. It supports research teams, SMEs, spin-outs and small consortia.
Successful projects in this scheme will receive a grant of up to €2.5m – or more in exceptional cases – and access to EIC services including coaching, mentoring and partnering events. Projects may also get faster access to EIC Accelerator funding in future.
While two projects from Ireland were successful in this first call, the highest number of participants come from Germany, Italy and Spain.
Other projects to receive funding include a no-code, gesture-control robot programming technology, a latent heat thermophotovoltaic battery for long-duration storage, and a digital discovery platform for organic electronics materials.
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