Dublin software company Aid:Tech has won the overall ‘Innovation of the Year Award 2018’ at the Irish Times innovation awards.

Aid:Tech has developed a secure way to deliver aid and other benefits to people around the world using its blockchain platform, and was first in the world to deliver international aid using blockchain technology when it helped to distribute relief among Syrian refugees in northern Lebanon on behalf of the Irish Red Cross.

Joe Thompson and Niall Dennehy founded Aid:Tech after Thompson ran the 151-mile Moroccan desert marathon in 2009. Unfortunately, the money he raised disappeared — and that led to an interest in the security benefits of blockchain technology for such endeavours.

Chief operations officer Dennehy said: “We found out that 30% of international aid goes missing each year, and we developed a solution which could verify to donors that their money has gone where it was intended.”

The platform allows for the creation of a secure identity for an aid or welfare recipient, which is stored on a blockchain ledger and cannot be altered or erased.

In Association with

Once the aid or government agency has created a digital identity for the individual recipient, the recipient stores these details in a QR code on their mobile phone or a plastic ID card. To receive aid, they simply scan the QR code. This gives full end-to end visibility from donor to recipient.

While the solution was originally created to support the international aid community, there are plans to roll it out to other areas.

Category Winners

Parkpnp, a company which describes itself as the Airbnb of parking won the Sustainability category; Innopharma won the Manufacturing and Design Award for its work on modified-release drugs; and BidX1 took the New Frontiers category for its ‘transparent’ online auction system which enables people to buy or sell property from anywhere in the world.

Belfast based BrainWaveBank won the Life Sciences and Healthcare award for its ‘fitbit for the brain’ which has the potential to enable much earlier diagnosis of Alzheimer’s and other degenerative brain diseases.

Irish Times innovation editor Michael McAleer commented:“It’s incredible to witness first-hand how companies all over the island are harnessing technology to provide better services and products for their customers. Many of these companies will no doubt go on to become industry leaders."

All the category award winners receive a €10,000 Irish Times media package, while Aid:Tech won a package consisting of tuition at Smurfit Business School and an advertising budget of €150,000 for Times publications.

Photo: Aid:Tech executives Martin Woods, Niall Dennehy, Danny Curran and Nicola Paoli with minister Pat Breen and awards MC David McWilliams. (Pic: Conor McCabe)