ATU iHub Galway City client company InVera Medical is one of two medtech projects set to receive Government funding under the fourth round of the Disruptive Technologies Innovation Fund (DTIF).
The funding announced on the 16th December 2022 is the second tranche of awards to be distributed in this round.
Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar, TD, said that funding would be shared among the partners involved in the three projects.
He added that this would bring the total allocation from this fourth funding call to more than €53m across 14 projects.
The DTIF aims to drive collaboration between Ireland’s researchers and industry, and develop disruptive technologies for eventual commercial application.
InVera Medical is leading research into vessel wall intervention for vein closure in venous leg ulcerations. The project got €4.6m and will see InVera work with University of Galway, Atlantic Technological University and Innovative Catheter Solutions.
Minister for Further and Higher Education, Research, Innovation and Science Simon Harris, TD, welcomed the latest projects to receive DTIF funding, calling them “further evidence of the links between excellent research and our strong industry base”.
“The six enterprise partners and five research institutions involved will work together to convert their industrial research into products that can disrupt existing markets,” he concluded.