The Innovation Exchange has put out a call for innovative technology scale-up companies to join the programme, which is designed to accelerate digital transformation for large multinational businesses by connecting them with indigenous SMEs.
The programme, created by Furthr in partnership with Skillnet Ireland, has announced additional funding to meet higher than expected demand following a successful initial phase that brought 200 SMEs together with leading corporations such as Musgrave, Heineken, Ryanair, Glanbia, ESB and AXA.
At an event to publicise its performance in its first six months of operation, the Innovation Exchange announced that it would be open to an additional 100 participants.
Conor Carmody, programme director of the Innovation Exchange, said: “The Innovation Exchange has had a strong start and the calibre of both corporates and SMEs participating has been very high.
"We are delighted to open applications for new technology SMEs to join the programme. We’re not only looking for tried and tested digital transformation solutions, but also for the ability to collaborate with large businesses who want to put their stamp on the end solution.
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"If you’re a growing, solutions-focused SME then we would urge you to join The Innovation Exchange at a time when there are so many corporate challenges on the table.”
Since its launch in February, the Innovation has successfully assisted 20 SMEs in deepening engagement with a corporate partner, including a paid robotics process automation pilot involving IT services company Extertis and the technology scale-up Éclair Group (now Digital Workforce).
Exertis published an innovation challenge via The Innovation Exchange in May and The Eclair Group responded by proposing a solution. Following a pitch and a proof-of-concept phase, a deal was agreed to enter a paid pilot.
Several other SMEs are in proof-of-concept discussions with a view to establishing a longer-term collaboration. More than 30 innovation challenges are expected to be published by large corporates for participating SMEs in 2022.
Discussing the programme's expansion at today’s event, Minister of State for Skills and Further Education Niall Collins said: “With over 25 innovation challenges being published by some of Ireland’s leading multinationals this year alone, it offers ambitious tech SMEs great opportunities for growth.”
Mark Jordan, chief strategy officer of Skillnet Ireland, said: “"We are pleased to announce today’s expansion of the programme. The potential benefits to scaling companies extend way beyond signing a contract. By building the right capabilities, these firms are accessing a qualified sales pipeline and getting face time with prospective customers.
"I strongly encourage indigenous SMEs to consider the programme for a great opportunity to collaborate with leading multinational corporations.”
Participant benefits include a qualified sales pipeline, the opportunity to pitch prospective customers, market insights, tailor-made training to improve SME performance when selling to large corporates, and one-to-one mentoring on proposals, pitching and negotiating terms.
(Pic: Getty Images)
