Commercialization Fund

By project VIADUCT

Published on 05 February 2024

Ireland

About this good practice

Taking research developments beyond the lab and out in to the open market requires both support and new skills. Enterprise Ireland’s Commercialisation Fund has been designed to help researchers on that journey. The objective of the practice is to nurture third level researchers through both financial and soft supports, to translate their research into innovative and commercially viable products, services and companies. Operating throughout the Higher Education Institutions and non-profit Research Performing Organisations in Ireland, this state funded research has the potential to result in the commercialisation of new innovations ideally by way of new company creation in Ireland or by way of license of the technology to companies in Ireland.
Main beneficiaries are researchers, who are enabled to develop skills, ideas and tools for innovation and entrepreneurship, supported with funding, mentoring and other supports, which is helping also achieve a higher rate of research and innovation spinouts.
The Commercialisation Fund is intended to support both proof of concept and ready to develop technology. Researchers can access two separate levels of sequential funding: Commercialisation Feasibility Funding - Intended to help validate the potential market opportunity before development and Commercialisation Funding - following feasibility funding, this is intended to de-risk the technology through development for real world application.

Resources needed

This is a comprehensive national programme that requires significant people and financial resources (for external funding), as well as a network of external experts and industry mentors. Currently a team of 15 is managing the programme.

Evidence of success

During 2019-2021, Enterprise Ireland has invested €50 million in 132 disruptive technologies and teams in our Research Performing Organisations via the Commercialisation fund.
1,200+ Researchers in our Research Performing Organisations are funded through EI Commercialisation and Collaboration Supports per annum.
Since 2007, EI has supported almost 200 deep tech High Potential Start-Ups emerging from the Irish research system. Of these, ~80% received EI Commercialisation Funding.

Potential for learning or transfer

The Commercialisation Fund practice can inform on the experience of providing a diverse range of financial and soft support needed to help identify the right ideas and create a pathway towards commercialisation, be it through formation of a spinout company, licensing, or other means. Its approach employs a multi-pronged strategy, targeting a range of barriers. This includes: a dedicated Commercialisation Specialist supports every step of the process, helping develop a commercially focused plan. Commercial Engagement - Support is provided through EI's Mentor Network, with access to industry networks with experience and advice on company establishment. Market Assessment and Validation - access to resources to validate technology opportunity. Team Formation - through EI's Business Partners Programme, ability to access the right personnel for successful project delivery. Personal Development - expanding individual skillset to broaden potential opportunities in the industry market.