Minister Coveney launches €33.4M KT Boost funding programme

New four-year knowledge transfer funding programme will increase the commercialisation of Irish research boosting innovation in our enterprise sector

Thursday, 7 December. Minister for Enterprise, Trade and Employment, Simon Coveney TD, and Enterprise Ireland today launched KT Boost, a new four-year, €33.4 million knowledge transfer funding programme for Irish universities and technological universities (TUs). Its objective is to support an increase in research commercialisation outcomes from within this sector - both regionally and nationally - and to develop consistent practices across the knowledge transfer (KT) sector.

The programme is administered by Enterprise Ireland, and co-funded by the Government of Ireland and the European Regional Development Fund (ERDF) which aims to promote economic, social and territorial cohesion across all European regions. The Managing Authorities for the ERDF in Ireland are the Northern & Western Regional Assembly and the Southern Regional Assembly.

KT Boost will support and provide resources to Innovation Offices/Technology Transfer Offices (TTOs) in Higher Education Institutions (HEIs) around the country to further support knowledge transfer activities, outputs and performance.

KT Boost was launched at an event today, 7 December, in the Hyatt Centric in the Liberties, Dublin 8. 

Speaking at the event, Minister for Enterprise, Trade and Employment Simon Coveney, TD, said: 

“Ireland has a very strong reputation globally for our capabilities in research, innovation and knowledge transfer. In this continuously changing environment, it is important that we match the pace of change and maintain our position of implementing best practice in knowledge transfer. Designed to make the most of Ireland’s significant investment in high performance research at university level, KT Boost will further build on that success to drive research commercialisation and bring more Irish ingenuity to the world.” 

Marina Donohoe, Head of Research and Innovation at Enterprise Ireland, said: 

“The new KT Boost programme will build on Enterprise Ireland’s existing supports and will help bring the firepower to Ireland’s research system to ensure we maximise its economic and social impact. It will support innovators and researchers to investigate, establish and develop new ideas, accelerating the development of innovation capability in Irish enterprise across all regions. This investment will also help to ensure enterprise and industry engages with the deep and applied research that is already under way in the HEIs and unlock its commercial potential.”

Cllr Terry Shannon, Cathaoirleach of the Southern Regional Assembly, said: 

“The universities and technological universities play a critical role in supporting regional development and innovation. KT Boost will complement wider investment, including significant investment under the ERDF Regional Programmes, in building research, development and innovation capacity in HEIs and in SMEs throughout the regions.”

Welcoming the launch, the Cathaoirleach of the Northern and Western Regional Assembly, Cllr John Naughten said: 

“KT Boost is another positive instance of European Funding being delivered by the Northern & Western Regional Assembly to assist our HEIs to establish links with companies and investors to assess new knowledge and expertise and drive innovation in the region. This is a fantastic opportunity to provide much needed investment in the human capital base, which is one of the most pressing infrastructure challenges restricting the northern and western region’s growth.”

On the ground, the KT Boost programme will fund recruitment, skillset development and training within Innovation Offices. It aims to ensure HEIs have the right people with the right skills to propel research commercialisation in our universities and technological universities. 

The specialists funded by the programme will support knowledge and technology transfer activities including IP Management and prospective licensing, and spin-out creation. The programme also aims to speed up and simplify transactions with Innovation Offices. 

Ultimately, KT Boost is expected to accelerate the rate of high potential start-up (HPSU) companies evolving from research spin-out businesses. It also aims to increase the volume of intellectual property (IP) licences and research collaboration agreements for these companies.

ENDS

For further information, contact:

Deirdre Geraghty, Enterprise Ireland Press Office

Email: Deirdre.geraghty@enteprise-ireland.com / press@enterprise-ireland.com

Phone: 086 603 1969

Photography to be issued by Coalesce Creatives creative@coalesce.ie 

Notes to Editor

KT Boost succeeds the Enterprise Ireland Technology Transfer Strengthening Initiative (TTSI) - which has run since 2007 - and invested more than €88million into the development and strengthening of Ireland’s knowledge transfer and research commercialisation system, to date. 

KT Boost will be managed by Knowledge Transfer Ireland (KTI), on behalf of Enterprise Ireland and the ERDF Managing Authorities. Knowledge Transfer Ireland (KTI) is the national office that makes it simpler for business and research performing organisations to work together. KTI aims to maximise the extent to which State-funded technology, ideas and expertise gets into the hands of business to drive innovation. KTI is located and funded by Enterprise Ireland (EI).

KTI offers information and advice across the areas of research collaboration between companies and HEIs, consultancy with HEIs as well as licensing opportunities and spin-out company formation amongst others. It helps companies and investors access expertise and intellectual property from across the third level and guides them to the right contacts and information on funding supports available to assist innovation.

For more information, visit www.knowledgetransferireland.com

About the European Regional Development Fund (ERDF)

The ERDF aims to strengthen economic, social and territorial cohesion in the European Union by correcting imbalances between its regions. In 2021-2027 it enables investments in a smarter, greener, more connected and more social Europe that is closer to its citizens.

The ERDF finances programmes in shared responsibility between the European Commission and national and regional authorities in Member States. The Member States’ administrations choose which projects to finance and take responsibility for day-to-day management.

For more information, visit the Managing Authority websites https://www.nwra.ie and https://www.southernassembly.ie