Good news emerged last week for early stage companies when it was announced that Trinity College Dublin and University College Dublin had joined forces to create a €60m start-up fund for high potential start-ups based on cutting-edge research coming out of Irish universities.
Other backers of the fund include the Irish Technology investor Atlantic Bridge, the European Investment Fund, AIB and Enterprise Ireland.
The raison d'etre of the fund is to expedite the comercialisation of revolutionary and innovative research in the areas of software, hardware and life sciences amongst others.
Atlantic Bridge have been appointed by Trinity and UCD to manage and monitor the fund. Atlantic Bridge has already previously led the investment of over €100m in Irish firms since it was set up and currently manages in excess of €400m in assets.
Although the fund has been established by Trinity and UCD, it is the aim of the fund to provide support and investment to innovative early stage companies from all of the Irish third-level institutions.
Dublin already has a strong reputation for start-ups and this hopefully will lead to us seeing some exciting new ideas receiving financial backing and emerging from Irish universities in the near future.
The fund will be overseen by Atlantic Bridge Capital, which has led investments of more than €100m since it was established and manages more than €400m in assets.