Innovation is thriving within local companies and that was clear to see this week as we recognised five exemplary local firms that took part in our FUSION programme last year with resounding results.
The award recognises exceptionally high levels of innovation and collaboration between a company, a graduate and an academic institution as part of InterTradeIreland's FUSION programme.
Maximise your knowledge, resource and experience - collaborate
What these SMEs showed was that while they had great potential to undertake product/service development and enhancement, they maybe struggled with finding the time or resource to make it happen or there was a particular gap in their knowledge. Having the opportunity to collaborate is therefore so important and this is exactly what InterTradeIreland’s FUSION programme offers.
FUSION companies are able to harness the knowledge, resources and experience of our exceptionally talented science, engineering or technology graduates and our academia right across the island, and as shown by the ‘exemplars’, it works.
Exemplary innovators and their results
The five ‘exemplary’ companies that were recognised at the prestigious InterTradeIreland event held in Carton House in Maynooth were: Tyrone Fabrication, based in Ballygawley and Toomebridge-based manufacturing company, Copper Industries, along with southern companies Novegen Ltd, Dublin; Complete Laboratory Solutions, Galway; and Aspira Ltd from Cork.
Between them, as a result of their FUSION projects, the five companies have reported sales of more than £1.5M and savings of over £65,000, with projected sales of upwards of £5.75M and savings of £466,000, over the next three years.
These ambitious SMEs are a testament of what can be achieved through enterprise and innovation and North South collaboration and we hope it will encourage and inspire SMEs to participate in the FUSION Programme… to improve their productivity, increase revenue potential and to create real jobs for graduates.
Don’t just take our word for it… What one of our ‘exemplars’ has to say…
Tyrone Fabrication’s collaborative FUSION project enabled the development of a range of Hybrid Power Units, aimed at providing a constant power supply to telecoms base stations, especially in remote locations.
Michael Montague, general manager at TFL, explained: “Without the assistance from the FUSION project, we would not have had the time or resources to be able to dedicate a full time member of staff to R&D and successfully bring this project to market. In addition, we simply didn’t have the necessary skills or in-house expertise to turn the initial idea into reality.
“This has been a rewarding experience for TFL and will generate a significant increase in revenue for us in the future, along with additional efficiency savings for our business. In addition, by employing Dominic on a full-time basis, it created another new and vitally important job role within the company. We have no hesitation in encouraging other local companies to apply for the InterTradeIreland FUSION programme and take advantage of the opportunities it offers.”
What exactly is FUSION and how does it work?
InterTradeIreland’s technology transfer and innovation programme, FUSION, partners companies north and south with a third-level institution and provides them with the specialist expertise of a high calibre graduate, who works directly in the organisation, to deliver a new product or process improvement project.
Inspired? Get involved in FUSION…
If you want to grow your business through innovation, please click here for more information and to begin your FUSION journey.
InterTradeIreland also offers a suite of other business support programmes, find out more here.
In the meantime, I am delighted to congratulate all of our Exemplars on their achievements and I wish them every success in the future.
From Small Business Can