Atlantic Bridge, a growth technology fund, this week announced a new €60 million investment fund for early stage companies with global potential that are built from world class research from all Irish third-level institutions and universities.
The fund will accelerate the commercialisation of ground breaking research generated at Trinity College Dublin, University College Dublin and all third level research institutions, and was initiated in a joint leadership collaboration between Trinity and UCD.
The €60 million now in place will provide investment and expertise at the commercialisation stage for companies focusing on software, hardware, engineering, physical sciences, life sciences and agri-food.
It will enhance success at Trinity and UCD - both ranked in the Top 1 per cent of higher education institutes world-wide - in creating spin-outs and start-ups. The universities are also ranked in the Top five of European Universities for producing graduate entrepreneurs.
Over the last 10 years they have jointly spun-out over 60 companies, which have secured in excess of €200 million in investment, such as Equinome, Logentries and OxyMem from UCD and Genable, Opsona Therapeutics and Swrve from Trinity.
Minister for Jobs, Enterprise and Innovation, Mary Mitchell O’Connor TD said: “Innovation is a key pillar of Enterprise 2025 and I am delighted that this new University Bridge Fund has been launched. This additional investment in the third level sector will provide the support for more researchers to develop viable new businesses and spin outs from the sector.”
Said Provost of Trinity, Patrick Prendergast: “Trinity and UCD are committed to achieving both economic and societal impact from our research excellence. This fund will be transformational in supporting our internationally leading research to become globally leading businesses – creating new jobs and enabling new innovative products.”