Enterprise Ireland have launched their Technology Transfer Strengthening Initiative worth €22 million. The initiative was launched by Minister for Research and Innovation, Sean Sherlock T.D under Phase 2 of the scheme.
The initiative will offer €5.5 million per annum from 2013-2016 with the aim of boosting interaction between industry and Higher Education Institutions. Phase 1 of the Technology Transfer Strengthening Initiative has proven to be a great success with third level research developing into new spin-out companies and allowing the licensing of new technology for the benefit of industry.
The aim of the initiative is to continue to promote Ireland as a leading force in providing access to intellectual property in a professional and efficient way. The initiative has resulted in the creation of innovative new businesses through research. The clearest indicator of the initiatives’ success is the 3-fold increase in the average number of spin-out companies created in the 5 year period since it was introduced - rising from an average of 7 per annum in the period 2002-2006 to an average of 24 per annum between 2007 and 2011. In addition to the 120 spin-out companies created, there has also been a 400% increase in the amount of technologies licensed to companies by research performing organisations.
Proposals are expected from Irish Higher Education Institutions before the 30th March 2012 deadline. www.amatino.ie