TechInnovate is an entrepreneurship development programme supported by Galway University Foundation. The programme comprises six entrepreneurial Fellows working in two teams focusing in bringing technological innovations in the agricultural and defense sectors to the market. To date TechInnovate has delivered disciplined entrepreneurship skills to over 135 people.
The Fellows, all industry professionals form interdisciplinary teams, each made up an engineer, a businessperson and a designer. The entrepreneurs undergo an initial bootcamp in the Disciplined Entrepreneurship process, carry out a needs analysis with end users, filter down to the most pressing need, and then developed a commercial proposal for a technology-base solution to that need.
Bank of Ireland Seed and Early Stage Equity Fund
The Foundation continued its support for The Bank of Ireland Seed and Equity Fund as an institutional investor. The Fund is managed by Kernel Capital and supports innovators from first time founders to seasoned entrepreneurs to create new products are services. Fund that invests in start-up and early stage companies, with a focus on export orientated high potential start-up companies that operate in the technology (including green technology), food and financial services sectors, in addition to supporting patent and patent pending projects within Irish universities. Since the Fund's inception in 2009, it has:
- Completed 98 investments in a portfolio of 47 limited companies, being €24.4M invested;
- Enabled the creation and safeguarding of over 450 jobs in Ireland, most at graduate and post graduate level;
- Enabled the creation and advancement of 31 companies linked to Irish Universities including 12 direct university spin outs.