Enterprise Ireland launches Proof of Concept Funding to accelerate commercialisation of academic research
Enterprise Ireland has announced a new stream of support under its Commercialisation Fund: Proof of Concept Funding. Designed to be accessible, it will support the development of research and technology in its first steps towards market readiness.
The new funding offers up to €100,000 over a 12-month period, providing a vital bridge between initial research and the commercial market. This initiative supports a range of activities including customer discovery, prototype development, and early-stage human-use studies, helping researchers validate both the technical feasibility and market need for their innovations.
Marina Donohoe, Head of Research, Innovation and Infrastructure at Enterprise Ireland, said: “At Enterprise Ireland, we recognise the critical importance of bridging the gap between groundbreaking research and market-ready solutions. The Proof-of-Concept Funding is designed to empower third-level researchers in Ireland by providing the necessary resources to validate their innovations. By supporting activities such as customer discovery and prototype development, this initiative aims to de-risk early-stage technologies and accelerate their journey towards commercialisation, ultimately contributing to Ireland’s position as a leader in global innovation.”
This new initiative is part of Enterprise Ireland’s continued commitment to bridging the gap between research and industry, supporting the creation of high-potential start-ups and ensuring that Irish research delivers real-world impact.
The Proof-of-Concept Funding complements existing supports under the Commercialisation Fund, including the Feasibility Grant and the Commercialisation Fund Award. All researchers in the third-level sector and non-profit research agencies and organisations in the Republic of Ireland including staff on contract (e.g. post-doctoral scientists) can apply. Non-financial supports such as mentoring, networking and team development are also available.
Reflecting on the importance of early-stage support, Dr. Cormac Farrelly, Chief Medical Officer and co-founder of LaNua Medical, said: “Securing early-stage support through Enterprise Ireland was a pivotal moment for our company. It enabled us to validate our innovative embolisation medical device, the ECORE, with real-world users and begin translating a clinically inspired concept into a commercial product with the potential to improve patient outcomes globally. This type of funding is essential for turning promising innovative ideas into high-impact solutions.”
Enterprise Ireland is actively encouraging researchers across Ireland to get in touch and explore how this new funding can support their innovation journey. If you have a promising idea and are seeking support to accelerate its path to market, we want to hear from you.
How to apply:
1. Review eligibility on the Enterprise Ireland website: Commercialisation Fund | Business Support | Enterprise Ireland
2. Contact a member of Enterprise Ireland’s Commercialisation Specialist Team
3. Submit your application through the online system – Apply here
