The aim of the Commercialisation Fund Programme is to improve the competitiveness of the Irish economy through the creation of technology based start-up companies and the transfer of innovations, developed in Higher Education Institutions and Research Performing Organisations, to industry in Ireland.
Supports researchers in Higher Education Institutions and Research Performing Organisations to undertake research that has the potential to result in the commercialization of new innovations by way of licenses to improve the competitiveness of Irish Industry or through the spin out of new start-up ventures.
Accepts proposals with costs typically ranging from €80,000 to €350,000.
Enterprise Ireland, the government organisation responsible for the development and growth of Irish enterprises in world markets.
Why do Knowledge Spillovers Matter? An excerpt from Nesta's ‘Idea Bank’ for Local Policymakers:
Startup ecosystems often evolve around prominent ‘anchor institutions’: large, resource-laden organisations such as universities or major technology firms, which are locally active and relatively immobile.
Such institutions may spawn spinouts directly: many leading digital firms including Google, Facebook, Sun Microsystems and Deepmind owe much to university roots; others, like AMD, Nuage Networks and Agilent Technologies spun-out from major technology firms.
Anchor organisations also serve other important functions. They can act as a reservoir of technical skills which can benefit startups through employment of skilled individuals, training courses, collaborative research, contract research, consultancy and equipment hire. They can act as testing, measurement and certification facilities, providing validation, advice about metrology, equipment calibration, standards and quality control. They may provide assistance with prototypes, especially where startups have needs beyond the technical capabilities of ‘makerspaces’. They can also act as a local market for goods and services.
It should also be noted that the presence of a large, acquisitive company helps boost a city’s ecosystem in other ways: analysis also shows that cities which have more active acquirers also have more startup exits.
Since emerging as a concept a couple of decades ago, anchor institutions have come to play a core strategic role in urban regeneration and local economic growth. As such, they may already have a formal role within the planning and policymaking process with a city, with various policies designed to facilitate knowledge spillovers through formal knowledge transfer (like collaborative research and direct movement of people). Many universities have consciously adopted these community interactions as part of their so-called ‘third stream’ activities; these are often granted tax exemption in recognition of the broader social benefit.