Business

Fund promotes innovative cross-border business collaboration

Co-Innovate innovation advisor, Dianne Dundas
Co-Innovate innovation advisor, Dianne Dundas Co-Innovate innovation advisor, Dianne Dundas

CROSS-border businesses with innovative ideas are being encouraged to sign up for a potential cash injection from InterTradeIreland’s Co-Innovate programme, as a new funding round opens.

The scheme offers up to €150,000 for qualifying projects, with March 31 the deadline for applications.

A total of €1.5m has been invested to date in commercial projects, with a further €1.5m up for grabs. Firms taking part in Co-Innovate can also benefit from pooling their expertise and resources to bring innovations to market faster than if working alone.

Since its 2017 launch, the programme has helped 1,200 companies through innovation workshops, mentoring and funding. Co-Innovate is open to firms in Northern Ireland, the six border counties of the Republic, and in areas of western Scotland.

All projects must have at least one partner based in the southern border counties and one based in Northern Ireland or Western Scotland.

Dianne Dundas, Co-Innovate’s innovation advisor, said: “So far, 11 companies and three academic institutes have secured funding to help push forward their cross-regional innovation partnerships. These include partnerships that are developing fully compostable plastics from renewable sources, creating new ways of producing small quantities of specialised asphalt products and technology that will help to monitor athletes, their performance and playing conditions, with the aim of reducing injuries.

“Co-Innovate is currently looking for ambitious businesses that have a cutting-edge idea with strong commercial potential, to join forces with a partner to jointly develop innovative products and services. This is an exciting opportunity open to ambitious businesses for a limited time.”

One recipient of Co-Innovate support is a collaboration between Devine and Associates Ltd, Strawchip Ltd, Moy Park Limited and South West College. The project is aimed at producing an organic fertiliser which, when applied to land, will improve water and soil quality through the reduction of chemical run-off. It’s an environmentally friendlier process, using chicken litter supplied by Moy Park.

Debra Devine, of Fermanagh-based Devine and Associates Ltd, the lead company in the research and development partnership, said: “Co-Innovate has given us support and investment to bring together expertise from a number of partners, aimed at producing a high quality, innovative product which is set to make a positive contribution to reducing pollution of our waterways and create jobs in the growing bio-economy sector.

“I’d urge firms with their eye on innovation to look at Co-Innovate as a way of securing not only the all-important funding, but also expertise and advice.”