Businesses from Limerick and Shannon have been awarded a share of €10 million funding awarded to five small Irish companies with big ideas.
The companies are DP DesignPro Ltd of Abbeyfeale create affordable and reliable HydroKinetic turbines which utilise the huge potential of clean, predictable energy in the world’s rivers, canals and estuaries, and Altratech, based in Shannon, make portable battery-operated kits for the quick detection of the HIV virus.
They will receive EU grants of up to 2.5 million each from the Horizon 2020 SME Instrument Phase 2 funding. The funding is for innovative small firms to get ideas from the lab to the market and help generate growth and jobs in Europe.
Thanks to the funding, they can finance innovation activities like demonstration, testing, piloting, scaling up and miniaturisation, in addition to developing a mature business plan for their product. The companies involved in the projects will also benefit from 12 days of business coaching.
