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Stamp of Innovation Approval for four SMEs

Published on 1st February 2019

1st February 2019: Four companies have been recognised for ‘outstanding innovation’ by InterTradeIreland as part of its all-island innovation programme, FUSION.

 

Together the four businesses awarded innovation status have reported combined sales, savings and investments of over €2.3 million as a direct result of their participation in FUSION. Over the next three years that number is expected to grow to €13.8 million. InterTradeIreland has been helping small businesses in Ireland and Northern Ireland explore new cross-border markets, develop new products, processes and services and become investor ready over the last 20 years.

 

InterTradeIreland’s FUSION programme is a cross-border initiative that promotes business development and innovation through collaboration. Companies north and south are partnered with third level institutions and graduates in science, engineering or technology for up to 18 months. The graduate works directly within the business to deliver new products or improve processes.

Supports available

  • 18 month support package – worth up to £56,000 / €67,900 typically in the area of new product / service development.
  • 12 month support project – worth £39,000/€47,400 typically in the area of process improvement.

The businesses recognised were applauded by the judges for the level of innovation delivered by the graduates and academic institutions involved, and the business benefits achieved. Three of the winners are SMEs from the Republic of Ireland, they are:

  • Galway based CreVinn Teoranta for developing capability in cutting-edge hardware acceleration for high performance computing;
  • Lynch Windows in Donegal who designed a new domestic roof-light product with the highest energy rating possible;
  • and Platinum Tanks in Monaghan for creating a new range of innovative agriculture products.

 

Each of the those awarded outstanding innovation status by InterTradeIreland has retained the graduate who acted as Project Manager during the collaborations. In fact, staff numbers across the four companies have already increased by 19 since participating in FUSION as a result of the new opportunities and revenue streams delivered.

 

Congratulating the businesses, Margaret Hearty, Director of Programmes & Business Services at InterTradeIreland said: “Each company recognised is delivering excellence and innovation in their respective fields, helping grow the marketplace locally and further afield. We are proud to celebrate the creativity and hard work of the participants who each showcase the success and commercial benefits that comes from collaboration. The results speak for themselves and we would encourage other SMEs who want to build innovation into their business to apply for our FUSION programme.”

 

Ends

For further information on InterTradeIreland and the business supports available, please visit www.intertradeireland.com

For media queries contact: Clare Daly, Morrow Communications, +44 02890393837 / c.daly@morrowcommunications.com

Photo caption: InterTradeIreland has recognised four Irish SMEs for ‘outstanding innovation’ in its FUSION Programme which supports innovation and business development. As part of the Fusion Programme, companies north and south are partnered with third level institutions and high calibre graduates in science, engineering or technology for up to 18 months to deliver new products or improved processes. Pictured l-r: Patrick Cassidy and Oisin O’Conchubhair from Platinum Tanks, Gavin Cullen and Lauren Bradley from Lynch Windows, Alan Morrow and Margaret Hearty from InterTradeIreland, Vincent Gavin, Cormac Molloy and Tadhg Creedon from CreVinn Teoranta, and Nathanael Cooney from National Sprinkler.

 

 

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