Enterprise Ireland has announced Proof-of-Concept Funding, a new stream of financial support for businesses under its Commercialisation Fund.
Proof-of-Concept Funding is designed to be accessible and is intended to support the development of research and technology in its first steps towards market readiness.
Up to €100,000 will be offered over a 12-month period, providing a bridge between initial research and the commercial market.
The initiative supports a range of activities, including customer discovery, prototype development, and early-stage human-use studies, helping researchers validate both the technical feasibility and market need for their innovations.
“At Enterprise Ireland, we recognise the critical importance of bridging the gap between groundbreaking research and market-ready solutions," said Marina Donohoe, head of research, innovation and infrastructure at Enterprise Ireland.
"The Proof-of-Concept Funding is designed to empower third-level researchers in Ireland by providing the necessary resources to validate their innovations.
"By supporting activities such as customer discovery and prototype development, this initiative aims to de-risk early-stage technologies and accelerate their journey towards commercialisation, ultimately contributing to Ireland's position as a leader in global innovation.”
The new initiative is part of Enterprise Ireland's commitment to bridging the gap between research and industry to support the creation of high-potential start-ups and to ensure Irish research delivers real-world impact.
The Proof-of-Concept Funding complements existing supports under the Commercialisation Fund, including the Feasibility Grant and the Commercialisation Fund Award.
All researchers in the third-level sector and non-profit research agencies and organisations in the Republic of Ireland, including staff on contract (eg post-doctoral scientists), can apply.
Non-financial supports such as mentoring, networking and team development are also available.
“Securing early-stage support through Enterprise Ireland was a pivotal moment for our company," said Dr. Cormac Farrelly, chief medical officer and co-founder of LaNua Medical.
"It enabled us to validate the ECORE device with real-world users and begin translating a clinically inspired concept into a commercial product with the potential to improve patient outcomes globally.
"This type of funding is essential for turning promising innovative ideas into high-impact solutions.”
Enterprise Ireland is actively encouraging researchers across Ireland to get in touch and explore how this new funding can support their innovation journey.
To apply, review eligibility on the Enterprise Ireland website, contact the organisation's Commercialisation Specialist Team, and submit your application here.
(Pic: Getty Images)
