RCSI Spinout Substrato Medical wins Spinout Showcase Award at Enterprise Ireland's Start-Up Day 2026

07th May 2026

L-R: Fiona McGillicuddy, MetHealth, Jenny Melia, CEO, Enterprise Ireland and Maeve McCarthy, Substrato Medical.

Maeve McCarthy of the Royal College of Surgeons of Ireland (RCSI) spin-out Substrato Medical, was presented with the Spinout Showcase Award at Enterprise Ireland’s Start-Up Day 2026 in the Aviva Stadium.

Substrato Medical was one of eight investor-ready deep tech spinouts that had three minutes to pitch to a 600 strong audience made up of representatives from the Irish Start-up ecosystem including VCs and other funders, State support agencies & professional and financial services.

The award was presented to Maeve McCarthy, for the outstanding pitch of the day. Substrato Medical which is an Enterprise Ireland commercialisation funded project approaching spin-out, is redefining oxygen therapy to enhance tissue repair for millions of chronic wound patients worldwide. Built on the expertise of RCSI’s Tissue Engineering Research Group and a founding team with 25 years of MedTech experience, the company is developing a solution that restores ulcer-free time for patients and reduces the cost burden of chronic wounds.

Fiona McGillicuddy of UCD spin-out MetHealth received the Spinout Showcase runner-up award on the day. MetHealth is a next-generation immunometabolic diagnostics for precision risk stratification and improved clinical care in obesity-related cardiometabolic diseases. Its proprietary biomarker platform, integrated with AI-driven algorithms, delivers critical insight into cardiometabolic health - launching first with a non-invasive blood-based in vitro diagnostic (IVD) for metabolic liver disease (MASH).

Winners of the Enterprise Ireland Spinout Showcase 2026 have been awarded a place on a week-long European market access programme, including tailored engagements in the UK and Europe. The opportunity will help the teams build international customer and investor connections while sharpening their go-to-market capability. By accelerating the global reach of Ireland’s newest spinouts, the programme strengthens the country’s pipeline of innovation and high-growth entrepreneurship.

Start-Up Day 2026 hosted the ‘Class of 2025’ High Potential Start-Up companies that Enterprise Ireland invested in during 2025. The event also played host to technology-based companies with origins deep rooted in groundbreaking research. In 2025, 28 Startup businesses emerging from the research eco-system were directly supported.

Presenting the award, Jim Woulfe, Chairman, Enterprise Ireland said, “The Spinout Showcase pitching element and awards at Start-Up Day provides a platform to showcase Enterprise Ireland’s commercialisation funded research approaching start-up status, with significant potential for success. The event also highlights the high calibre of research commercialisation activity within Ireland, and the significant impact these companies will have to help address huge global challenges. I wish to congratulate both Substrato Medical and MetHealth on their achievements to date and wish them every success for the future.”

Ends

Notes to editor:

The eight Commercialisation funded projects pitching at Enterprise Irelands Startup Day 2026 include:

MetHealth: Fiona McGillicuddy

MetHealth is a UCD spin-out developing next-generation immunometabolic diagnostics for precision risk stratification and improved clinical care in obesity-related cardiometabolic diseases. Its proprietary biomarker platform, integrated with AI-driven algorithms, delivers critical insight into cardiometabolic health - launching first with a non-invasive blood-based in vitro diagnostic (IVD) for metabolic liver disease (MASH).

Substrato Medical: Maeve McCarthy

Substrato Medical is redefining oxygen therapy to enhance tissue repair for millions of chronic wound patients worldwide. Built on the expertise of RCSI’s Tissue Engineering Research Group and a founding team with 25 years of MedTech experience, the company is developing a solution that restores ulcer-free time for patients and reduces the cost burden of chronic wounds.

NanoformiX: Darren Andrews

NanoFormiX has developed a proprietary, cartridge-based platform that significantly improves the speed, cost, and scalability of RNA lipid nanoparticle (LNP) formulation, addressing critical bottlenecks in a rapidly growing market. Its integrated system enables parallel processing with minimal waste and no cleaning, underpinning a high-margin, recurring consumables model - positioning the company as a potential end-to-end solution from discovery through to GMP manufacturing.

Ailtire Technologies: Colm McSweeney

Every enterprise wants to adopt AI, but none of them will do it without a security layer they can trust. Ailtire's agents assess technology systems, simulate everything that could possibly go wrong, and design the fixes.

MicroJect Bio: Lorcan O'Toole

MicroJect is a UCD spin-out developing a patented hollow polymer microneedle platform for precise, consistent, low-pain intradermal delivery. Its first product targets allergy diagnosis, improving dosing consistency and patient experience while fitting existing clinical workflows. Backed by an established allergy diagnostics partner supporting the regulatory and commercial pathway, the platform also has clear expansion into higher-value drug delivery applications.

ChromWatch: Luke Gallagher

ChromWatch is modernising how biopharma controls its most valuable processes. We replace slow, manual testing with fast, in process measurements that give manufacturers critical insight in minutes, not hours. With a defensible deep tech platform and clear productivity gains for high value biologics, ChromWatch is positioned to become core process infrastructure for next-generation biomanufacturing.

Narrative: Michael Dowling

Narrative is the AI-native engagement layer for small business financial platforms, embedding a financial coach directly within the platform. Traction includes a commercial contract with Bank of Ireland (~€100k ARR) and payment-network partnerships in progress. Narrative is a DCU spin-out.

OcuHealth: Laurence Fitzhenry

OcuHealth is developing patented, scalable nanoformulations for the delivery of ocular therapeutics.

For more information:

Nicola Corboy, Press Office, Enterprise Ireland, 086 021 0114 nicola.corboy@enterprise-ireland.com