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2 more innovative Irish SMEs selected for EU funding
Two Irish SMEs have been selected for funding under the latest round of the SME Instrument. They will each receive €50,000 for feasibility studies plus free coaching and business acceleration services.
The two companies are:
- Thalman Health of Cork which is developing the first wearable sensor capable of measuring both heart rate and the body’s thermoregulatory response to an infection (SENSYU). This is designed to help patients and healthcare providers recognise and treat the early signs of infection before it becomes life threatening, of particular importance to cancer patients.
- Vizlegal of Dublin which is developing a legal intelligence platform to enable legal professionals to track, search and save critical legal information from EU institutions and the courts of a growing number of member states (Vizlegal).
The funding comes from Phase 1 of the SME Instrument. Companies can apply for two distinct phases under the SME Instrument, depending on the maturity of their innovation. Under Phase 1 of SME Instrument, each project receives a lump-sum of €50.000 to carry out a feasibility study.
Under Phase 2, each project receives from €0.5 to €2.5 million to finance innovation activities such as demonstration, testing, piloting and scaling up. In addition, companies under both phases can benefit from free coaching and business acceleration services.
The SME Instrument is part of the European Innovation Council (EIC) pilot that supports top-class innovators, entrepreneurs, small companies and scientists with funding opportunities and acceleration services.
The next application deadline for SME Instrument Phase 1 is on 5 September 2018.