Tyndall National Institute today announced the signing of a Memorandum of Understanding (MOU) with PCH International to support the generation and scaling of new high tech start-up companies in Ireland targeting the global market.
The announcement was made at the launch of Tyndall’s five-year strategic plan which aims to contribute to the generation of over 500 new jobs in high-tech start-up companies, new multinationals investing in Ireland, and established Irish companies.
Welcoming the announcement, Richard Bruton TD, Minister for Jobs, Enterprise and Innovation, said: “A key part of the Government’s Action Plan for Jobs is our determination to build on the major successes in science, technology and innovation we have achieved over the past decade and turn more good ideas into good jobs. Tyndall is a top-class research centre which has established a global reputation over its decade in existence – today’s announcement that in the next five years it plans to create at least 500 jobs in industry is an example of what we are trying to deliver across our research infrastructure. I wish Tyndall and PCH International every success with their partnership and look forward to working closely with them as they deliver commercial outcomes and ultimately good jobs over the coming years.”
Speaking at the launch, Tyndall National Institute CEO, Dr Kieran Drain said: “As part of our clear strategy to derive economic impact from research excellence, Tyndall is focused on generating employment and building capacity within the technology space across Ireland. Powerful synergies exist between Tyndall’s skill in breakthrough ICT research and product development and PCH’s world-class design for manufacturing and delivery. Together we aim to provide end-to-end support for high-tech start-ups from concept to shelf, benefiting from PCH’s insights as a market leader to extend commercial reach from Ireland to China and beyond.”
The MOU provides for close collaboration between PCH’s two programmes for startups, Highway1 and PCH Accelerator and Tyndall’s international network of over 200 industry clients to identify market opportunities. Potential projects will target the electronics, medical devices, energy and communication industries with research and development at Tyndall’s unique state-of-the-art research and pilot-line fabrication facilities in Cork.
Commenting on the partnership, PCH International CEO, Liam Casey said: “We are delighted to partner with Tyndall. The research work we have seen from them is world-class, particularly in the health and wellness market, and we are both focused on promoting successful high potential hardware startups. Tyndall’s expertise in ICT hardware research, combined with PCH expertise in getting products to market, means that we are creating huge opportunities for entrepreneurs in Ireland to achieve success on a global scale.”
Minister for Research and Innovation, Sean Sherlock TD added: “Commercialisation and market reach are key to deriving maximum value from research. The Tyndall-PCH partnership is a prime example of what can be achieved when industry and research institutes work together and will be a flagship collaboration for Ireland, working to incubate start-ups, provide better jobs and drive Irish and European competitiveness.”