Funding of €6.8 million announced for sustainable disruptive technology MedTech project

Minister for Enterprise, Trade and Employment, Simon Coveney TD, Minister for Further and Higher Education, Research, Innovation and Science, Simon Harris TD and the Minister of State for Trade Promotion, Digital and Company Regulation, Dara Calleary TD, today announced funding of a further €6.8 million for a twelfth project under Call 6 of the Disruptive Technologies Innovation Fund (DTIF).

Announcing today’s funding, Minister Coveney said:

 "I am delighted to announce funding of €6.8 million for this collaborative project to produce the world's first sterile, sustainable, panoramic endoscope which will deliver better healthcare outcomes in a sustainable manner. This project has the potential to alter the market for endoscopes worldwide, thereby demonstrating its suitability for funding under the Disruptive Technologies Innovation Fund.

 “The enterprise sector has a major role to play in finding more sustainable options for products and services, so I’m particularly pleased that this project, through its circular manufacturing approach, aligns with our commitments under the White Paper for Enterprise to promote the development of the circular economy and bioeconomy.”

Minister Simon Harris added:

“This project brings research and business closer together. The relationship we continue to foster between these two has huge benefits for innovation, industry, job creation, skills development and society.

 "This project alongside the other successful DTIF projects is making an important contribution in positioning Ireland as a leader in research and innovation ensuring that our economy remains resilient, and adaptive to the modern technological era.

 "Ireland’s continued growth in research and innovation is driven by our excellent research performing organisations. Through extensive learning opportunities, these organisations are playing a pivotal role in producing graduates with the skills and capabilities to create and deliver disruptive technologies to our citizens."

Minister Dara Calleary said:

 “Many of the enterprise partners involved in the collaborative DTIF projects are adopting digital strategies for the first time. DTIF facilitates enterprises to fully embrace digitalisation, driving this change in our enterprise base. The use of digital technologies in this project will be transformative for both surgeons and patients.

 “The overall funding allocated to DTIF projects is a testament to the Government’s approach and commitment for a digital Ireland, which will strengthen Ireland’s attractiveness as a prime location for internationally recognised technology businesses. This is critical to our continued competitiveness and economic growth.”

 DTIF continues to drive collaboration between enterprises and research institutions across Ireland, particularly SMEs. There are two SME partners in the project announced today, one of which is leading the project. The 191 SMEs participating in the 104 DTIF projects announced under DTIF Calls to date represent half of the 386 project partners involved.

Leo Clancy, CEO, Enterprise Ireland said:

 “Tympany Medical has achieved remarkable progress with its Solascope project. This innovation improves the functionality of endoscope procedures and also reduces the time traditionally associated with this procedure. The next stage of the project, which will be backed with more than €6 million in DTIF funding, will allow Tympany Medical, and its partners Invermed Teoranta, RCSI and NCAD, to commercially launch the Solascope as a groundbreaking, sustainable medical device. This is another great example of how DTIF funding can support Irish innovation to create remarkable solutions for global problems, creating high-quality jobs in Ireland.”

DTIF projects are utilising industrial research and experimental development to create products and services that have the potential to alter markets and the way that businesses operate. The strong industry-academia collaboration which is required under DTIF is key to ensuring that Government investment through this fund is impactful for both the economy and society. The 145 Research Performing Organisations awarded funding in DTIF Calls to date ensures the expertise, training and knowledge necessary to help make the projects a success.

This funding means that, to date, €371 million has been awarded to 104 projects across six DTIF Calls.

ENDS