Eleven projects have been approved funding of up to €40m in the first tranche of awards under the fourth round of the Disruptive Technologies Innovation Fund.
These include two portfolio companies from the Western Development Commissions Investment Fund (WIF).
Versono Medical secured € 7m as part of a consortium working on VascuSense, a non-invasive device that will treat patients with chronic total occlusion, or complete blockages of coronary arteries that lead to critical limb ischemia.
Separately, FeelTect Ltd leading a consortium secured €4.6m working on Heallntel which will capture multifaceted data to enable data-driven improvements to products and protocols associated with measuring and monitoring compression therapy and wound care.
The DTIF is a €500m fund established under the National Development Plan in 2018.
The Department of Enterprise, Trade and Employment manages the DTIF with administrative support from Enterprise Ireland. The purpose of the fund is to drive collaboration between Ireland’s research base and industry as well as facilitating enterprises to compete directly for funding in support of the development and adoption of these technologies. Call 4 applications to DTIF were assessed against four criteria – quality of the disruptive technology, excellence of overall approach, economic impact & sustainability, and strength of the collaboration.