Enterprise Ireland launches a new ‘proof of concept' fund to de-risk R&D and speed the route to market
The initiative is open to researchers in third-level institutions across Ireland and is already accepting applications on a rolling basis.
This early-stage grant aims to address a critical gap in the business journey: helping researchers do the groundwork needed to attract a dedicated team and secure follow-on funding.
The grant can be used for key de-risking activities, including customer discovery, prototype development, early-stage human-use studies, and other validation work.
Eligible costs include personnel, subcontracting, and technical support.
It's a valuable opportunity to explore commercial potential in a structured, supported way
The scheme targets concepts in a range of sectors, including life sciences, ICT, manufacturing and engineering, energy, and agriculture and food.
While these sectors are a focus, applications from all disciplines are welcome, as long as they demonstrate strong innovation, a clear commercial opportunity, and a credible plan to develop and test the technology.
For researchers wondering whether their work could translate into a commercially viable output, this funding provides a valuable opportunity to explore the commercial potential in a structured, supported way.
The impact of early-stage funding is already visible. UCD spin-out LaNua Medical is one such example.
After securing initial Commercialisation Fund support to validate its novel embolisation device, the research team, including chief medical officer Dr Cormac Farrelly, successfully spun out and went on to raise €6m in seed funding in 2024.
Projects funded under the proof of concept initiative will also gain access to non-financial supports from Enterprise Ireland – including the Market Research Centre, sector-specific mentoring, and networking opportunities – helping researchers align their innovation with real-world market needs.
Interested applicants are encouraged to consult their institution's Technology Transfer Office (TTO) and engage with their Enterprise Ireland commercialisation specialist early in the process.
Applications are typically co-developed with the support of a TTO case manager or equivalent, who can help shape the proposal and ensure it aligns with the funding criteria. These include commercial opportunity, technical innovation, execution plan, potential economic impact, and budget justification.
The proof of concept initiative is an open call – researchers can apply at any time. For those aiming to create a spin-out company, the grant also acts as a gateway to further Commercialisation Fund support, enabling a seamless transition from lab to market.
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