Galway agri-innovators GlasPort Bio pick up €20,000 Low Carbon prize
An environmental biotech start-up from Galway has been hailed as a ‘game changer’ by judges, as it takes home the inaugural InterTradeIreland Seedcorn Sustainability / Low Carbon award.
GlasPort Bio has been named as the first ever winner of the new award as part of the InterTradeIreland Seedcorn Investor Readiness competition, clinching €20,000.
Awarded ahead of the all-island InterTradeIreland Seedcorn finals on 25 November 2021, the Low Carbon prize recognises start-ups innovating within the low carbon and green sector. Seedcorn is the island of Ireland’s biggest business competition for innovative new start and early stage businesses, with a record total prize fund of €300,000 this year.
Based in the Business Innovation Centre at NUI Galway, GlasPort Bio develops technology focused on reducing greenhouse gas emissions from agriculture. Through its products – feed additive to prevent belching of methane from livestock and a slurry additive to prevent methane emissions from stored slurry – the company is creating solutions that allow farmers to produce food in a more productive, profitable and sustainable way.
Congratulating GlasPort Bio on the company’s win, InterTradeIreland’s Funding for Growth Manager Shane O’Hanlon said: “We are thrilled to reveal the winner of our inaugural Sustainability / Low Carbon prize which gives special recognition to firms that are innovating within the growing low carbon sector. Recent research from InterTradeIreland shows that while the concept of eco-innovation is still seen as relatively new, 58% of firms across the island have considered the environmental impact when innovating or changing processes. Through this award, we want to nurture new companies coming down the track that will make positive change.
GlasPort Bio is an excellent example of a company developing game-changing solutions for the food and farming industry, it is truly remarkable work and I would like to congratulate the company on their win in the first ever Sustainability / Low Carbon category and we look forward to unveiling the rest of the winners at the finals shortly.”
Dr Ruairi Friel, GlasPort Bio said: “It is an honour to be named the inaugural Seedcorn Sustainability / Low Carbon award winners. At GlasPort Bio we are passionate about farming and the environment, and our mission is to equip producers with solutions that ensure their businesses are profitable and sustainable for generations to come. The prize money will go towards expediting the market launch of our two innovative products, and we are excited for what the future holds for us. The Seedcorn journey itself was as rewarding as the journey’s end, as we thank the mentors, judges and InterTradeIreland for their support along the way to get investor ready.”
InterTradeIreland’s Acting Director of Strategy and Policy Kerry Curran commented, “It’s positive to see that sustainability is being seen as a new frontier in innovation. Firms are increasingly tuned into environmental issues with sustainability starting to align more with profitability.
“However, in a recent InterTradeIreland survey a quarter of businesses flagged a lack of research and investment costs as barriers to eco-innovation. It’s important to say that tapping into cross-border collaboration and initiatives like the Seedcorn competition can help open up opportunities to bring in more sustainable innovation.
“GlasPort Bio is an excellent example of what businesses can achieve.”