Tech centres team up in hope of landing €82m

Two of Ireland’s leading technology research centres have teamed up in the hope of landing a multimillion-euro funding support.

Tyndall National Institute in Cork City and Waterford Institute of Technology’s Telecommunications Software & Systems Group (TSSG) are seeking to draw down €82m of funding under the EU’s Horizon 2020 programme.

The €80bn, seven-year programme is aimed at encouraging innovation across member states with the anticipated knock-on effects of job creation and improved competitiveness.

The partnership is particularly focused on exploiting the growing potential of the “internet of things” — a term used to describe the internet’s expansion into real, physical objects.

“Our combined staff of 580 hardware and 120 software engineers, support staff, and scientists, together with Tyndall and TSSG’s world class infrastructure, make this partnership uniquely qualified to deliver,” said Tyndall chief executive Dr Kieran Drain.

“At Tyndall, we passionately believe that Irish technology companies have the potential to lead on the internet of things and that it is our role to facilitate and accelerate their growth from product conception through commercial reality.

“This [partnership] will accelerate the development of new technologies, generating new growth opportunities for indigenous industry, while also encouraging further foreign direct investment.”

The partnership is hoping to create 10 spin-out, cross-sector companies focused on the internet of things by 2020. The rapidly expanding market is expected to be worth €5.5 trillion by 2020 having been valued at just €473m last year.

TSSG director, Prof Willie Donnelly said: “The partnership will place Ireland at the centre of the internet-of-things conversation, positioning Ireland as a location of preference” for the industry.