The spin-outs have raised a combined $111m in funding.

Limerick University spin-outs have now raised more than €80m and generated more than 260 jobs. The Irish university has produced successful companies such as Stokes Bio, which created a technology for genetic analysis enhanced plant breeding.  

To mark the milestone, the university hosted its Innovation Awards. The event recognised leading researchers who have been granted patents and formed spin-outs through their research. Among those acknowledged were Stokes Bio’s founders, professors Mark Davies and Tara Dalton, who received the Special Achievement award. Indeed, Stokes Bio was one of the biggest spin-out acquisitions in the history of Ireland when it was sold for €33m ($46m) to California-based Life Technologies in 2010.

The awards marked the achievements of researchers who have been granted 10 patents, and three spin-out companies. The companies recognised were: Neemo, a catalyst developer and manufacturer; Celignis, analytical services for biomass; and The Rosetta Foundation, an non-governmental organisation working to provide equal access to information and knowledge across the languages of the world. All three are based on research from the Department of Computer Science and Information Systems.

Mary Shire, vice-president of Research, said: “Limerick University has long had a reputation for innovation and an excellent track record when it comes to commercialising research.  This success in developing high-tech spin-out activity brings high-value research and development jobs to our region, keeping our best and brightest in the country. Partnerships such as Cook Medical are exemplars of the great impact translational research can have for our economy and the region. It is important to recognise these achievements and build on this success for the future.”