A new joint initiative between Trinity and UCD will see the creation of a €60m investment fund that will aid early stage companies from Irish third-level institutions with global potential reach international markets
Announced today by Atlantic Bridge, a leading European growth technology fund, the “University Bridge” fund will aid the commercialisation of ground-breaking research from third-level research institutions in Ireland, including providing investment and expertise to assist the entry of these companies into global markets, including those in the US and China.
Speaking to The University Times, Dr Chris Horn, a partner at Atlantic Bridge working with the fund, stated: “Atlantic Bridge has a number of other funds, but this is the first one that is focused specifically on the academic sector. The essential model is helping European and Irish companies develop and expand, but then helping them to bridge internationally with the United States and indeed we also have strong links with China.”
The fund will deal with companies focusing on software, hardware, engineering, life sciences, physical sciences, and agri-food. As well as Trinity and UCD, the fund includes investors such as AIB, Bank of Ireland, Enterprise Ireland the European Investment Fund.
Horn continued: “I think it’s particularly significant that the two universities put some of their own money into the fund.”
Over the last 10 years, UCD and Trinity have jointly spun-out over 60 companies. Together these have secured in excess of €200 million in investment. From Trinity, these include Genable, Opsona Therapeutics and Swrve.
“We are very interested in talking to people who have their own company and are looking to grow, or people who are even thinking about it, who have an idea, or a project or technology from their research and who think there are commercial opportunities”, Horn added.
In a press statement, Provost Patrick Prendergast stated that the fund “will be transformational in supporting our internationally leading research to become globally leading businesses – creating new jobs and enabling new innovative products”.
