Enterprise Ireland
Annual Report and Accounts 2007
Annual Report and Accounts 2007
On the back of an Enterprise Ireland initiative to accelerate innovation and competitiveness, Irish companies are actively engaging in technology partnerships with major corporations in the global economy.
Through a dedicated Innovation and Global Partnerships Unit, Enterprise Ireland has built strong connections with some of the world’s major companies over the last two and a half years.
In eight contracts facilitated so far, clients have acquired access to significant technologies via licensing agreements and spin-outs and have also benefited from high level technical and marketing support from the global corporations.
The initiative targets the multinationals’ technology portfolios to identify intellectual property not being used, but which may have commercial potential to clients. Enterprise Ireland matches the resulting flow of technology profiles with clients and disseminates them for evaluation. If partnership potential exists, it then brokers introductions between the parties and works with clients, if necessary, to conclude the licensing deals.
The large companies win from breathing new life into patents and getting a return on R&D investment; the Irish companies win by acquiring new technology, licences and enhanced innovation and competitiveness.
One of the companies taking advantage of the initiative is Enterprise Ireland client, Crospon Ltd. The Galway-based Lifesciences company concluded a major deal with Hewlett-Packard (HP) in 2007.
Crospon develops leading-edge, minimally invasive medical devices for monitoring, diagnosis and therapy in the areas of endocrinology and gastroenterology. Using HP technology it is commencing development of an industry-first skin patch for ‘smart’ drug delivery.
The patch employs heater technology similar to that employed in HP’s patented process for its inkjet cartridges and enables painless, controlled release of one or more drugs intradermally (just below the surface of the skin).
Under the agreement, HP granted a worldwide licence, provided access to business and technology mentoring and transferred certain business assets, IP and technology to Crospon.
Commenting on the contract, John O’Dea, CEO Crospon, says: “Enterprise Ireland set up the introduction with HP through its excellent and innovative Global Partnerships programme, facilitating what is a mutually beneficial transaction for both HP and Crospon.
“This is a strategically significant deal for us because it provides a solid R&D solution and allows us to offer a superior drug delivery platform. We look forward to bringing this breakthrough solution to the market within the next three years.”
Currently, Irish companies are engaged in technology partnerships with companies such as Microsoft, IBM, Procter & Gamble, HP and Lucent.
