Fund helps businesses to tap in to hi-tech markets

While the labour force has been slow to adapt to the hi-tech environment, it has also been problematic for indigenous industry to redirect their operations towards the opportunities created.

This has led to a support programme designed to connect the development skills emerging from universities with the niches that businesses have identified but do not have the expertise to exploit.

Under the InterTrade Fusion programme, these businesses can apply for up to €52,800 to employ science, engineering, and technology graduates for up to 18 months.

It is designed to allow these companies build capacity and tap in to the hi-tech markets.

The programme has led to the successful match-up of some graduates with ambitious companies.

In Sligo, Lotus Technical Services, a 22-year-old business, employs more than 400 people who ensure various systems in complex companies work properly with each other.

It hired a University of Ulster software engineer, Peadar Doyle, to develop additional tools to allow client companies get better access to their data.

The result of Mr Doyle’s work was the company securing a European-wide contract that allowed it to expand beyond the US and Irish markets.

The programme has also allowed companies already in the hi-tech space to push for further advances.

Realtime Technologies, which has 70 electronic manufacturing staff in Dublin, used it develop software for body sensors that can automatically feed a patient’s vital information back to a doctor.

The shift was from developing specialist equipment to producing cutting edge software that would make it more useable.

It hired researcher Karol O’Donovan and it has helped build its business base, which is already exporting to 60 countries and working with the top teaching hospitals.