Over 600 disruptive tech leaders, researchers and investors attended the country's first DisrupTech Summit in Dublin Castle today to learn more about how Disruptive Technologies are improving people's lives.
The €500m Disruptive Technologies Innovation Fund supports projects that have the potential to create new products, services or business processes which can significantly disrupt existing markets.
Over €371m has been awarded to 104 projects to date with €58.8m awarded last year alone.
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 the country'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.
The aim is to support investment in the development and deployment of disruptive technologies and applications on a commercial basis.
Each project must have at least one SME and one other enterprise in a consortium of three or more project partners. Collaborations with the Irish research sectors are encouraged.
All partners must be based in Ireland and be a client of Enterprise Ireland, IDA Ireland, Údarás na Gaeltachta or an eligible Research Performing Organisation.
The Minister for Enterprise, Trade and Employment Peter Burke said that DisrupTech 24 is a clear example of the incredible success stories which have emerged as a result of the Disruptive Technologies Innovation Fund.
"The strength of these projects lies in the ability of the individual partners to collaborate, bringing complementary expertise and knowledge to addressing societal challenges. This event has given many potential applicants both the information and opportunity needed to find prospective partners, with a shared vision and bring their innovative ideas to life," the Minister said.
"With the seventh round of DTIF open for applications, we are ready to invest in projects with the potential to bring real and meaningful benefits to our citizens together with providing new and exciting opportunities for our graduates," he said.
"Successful DTIF projects will play a key role in maintaining a strong economy while working towards achieving Ireland's ambition to be a global leader in the development and deployment of disruptive technologies," he added.
Organisations who have been supported through the Disruptive Technologies Innovation Fund (DTIF) include A-techsyn - whose drone technology can survey large areas of coastline, improve Maritime Surveillance and support Ireland's ability to combat drug smuggling - and Deciphex, which uses AI to target accurate screening which will contribute to improved outcomes for cancer patients as well as the Subsea Micropiles project, which develops solutions for seabed drilling systems for installing marine anchors, a technology that has huge potential to support the growth of offshore wind applications.
