Enterprise Ireland
Annual Report and Accounts 2007
Annual Report and Accounts 2007
Over 230 delegates attended Ireland’s first ever conference on the subject of the commercialisation of research in May 2007.
Entitled ‘Growth Through Technology’ the Enterprise Ireland-organised event brought together senior researchers, commercialisation experts, venture capitalists, private investors and entrepreneurs to discuss how cutting-edge technologies can be brought to market in the shortest possible time frame.
The conference demonstrated how research carried out at Irish third-level institutions is informing and innovating enterprise, and highlighted the need for businesses and the research community to collaborate in accelerating the commercialisation of research.
A number of industry analysts gave their views on global technology and investment trends, and speakers gave examples of how technologies coming out of Irish research institutes are driving growth in existing companies as well as stimulating the formation of new ventures.
An example of one of the exciting new enterprises formed in 2007 was Eirzyme Ltd, a joint venture between National University of Ireland, Galway (NUIG) and Canadian company Micromill Systems Inc. Eirzyme has developed a proprietary technology focused on the development of bio-ethanol and bio-gas from renewable feedstock and grains.
This breakthrough technology was developed with support from Enterprise Ireland’s Commercialisation Fund and commercialisation specialists worked with NUIG to find the best route to market.
With an investment of €10 million from Micromill, Eirzyme has set up initial R&D laboratories at the Enterprise Ireland-funded bioincubator facility at NUIG. This new company is set to become a major player with global reach as it expands and develops into a large-scale enzyme production facility within the biofuels sector.
Conference participants heard that, through the Commercialisation Fund, Enterprise Ireland has invested over €150 million in 25 Irish third-level institutions over the past six years.
Key industry speakers, Kenneth D. Noonan, Partner and Head of LEK Consulting’s lifescience practice in the United Kingdom and Europe, and Oisín Byrne, Managing Director of iReach, a leading research and market intelligence company specialising in technology and telecommunications, forecast opportunities for Irish companies in the Lifesciences and Food, Informatics and Industrial Technologies sectors.
In addition, an exhibition at the event showcased the results of commercialisation, the impact of technology licensing, how spin-out companies are formed and the benefits of research-industry connections.
