An Taoiseach, Leo Varadkar TD, Minister for Business, Enterprise and Innovation, Heather Humphreys TD have unveiled the 27 innovative projects who are sharing over €75 million in funding out to 2021 under the first tranche of the Disruptive Technologies Innovation Fund. The projects were announced at a special event that took place at RCSI, 26 York Street today.

Professor Donal O'Shea, Head of Department of Chemistry, RCSI will lead one of the successfully funded projects entitled: 'The Future of Colorectal Cancer Diagnosis and Treatment: Combining Tissue Responsive Probes, AI and Machine Learning to Transform Medical Care'. The project is led by RCSI and Mater University Hospital, UCD in partnership with Deciphex Ltd and IBM Research.

This project, which has been awarded €5.7m, aims to transform the diagnosis and surgical treatment of Gastro-Intestinal (GI) diseases, specifically cancer, by allowing decision-support information to be available when needed for faster and more accurate interventions for patients. Applications will be developed in surgery and diagnostics using AI and machine learning.

27 projects from sectors like life sciences, medical devices, ICT, manufacturing, food, agriculture, energy sustainability and the creative industries made successful applications for this first round of funding. Over the next 10 years some €500 million will be allocated through the fund, which was announced as part of Project Ireland 2040. The projects can use the funding to develop and deploy their disruptive innovative technologies on a commercial basis. The Fund is a key part of the Government’s ‘Future Jobs’ initiative, a new whole-of Government plan to secure Ireland’s economic success, starting in 2019. It is one of the first funds of its type in the world and is aimed at tackling national and global challenges to secure the jobs of the future.

Announcing the successful projects at RCSI today, the Taoiseach said: “The creation of this fund is particularly timely when we consider the vast and rapid technological advancements that are taking place. Today everything is faster, more efficient, and more easily accessible. We must adapt to a future of greater digitalisation and automation. Today’s school children will be employed in jobs and industries that don’t exist yet. Technology will eliminate or transform existing occupations.

“We are currently developing a new Plan, the Future Jobs Initiative, to meet these challenges and ensure we assist industry to create and sustain good jobs for our people in light of future challenges and opportunities. The Disruptive Technologies Innovation Fund is central to the Future Jobs Programme. It’s our way of stimulating private investment in new technologies and ways of doing business, and building stronger links between higher education, multinationals and Irish SMEs.”

Professor Cathal Kelly, Chief Executive of RCSI said: “Leading innovative research that translates into new technologies to address global health challenges is the central focus of our research here at RCSI. Today’s award from the highly competitive Disruptive Technologies Innovation Fund is a testament to the quality of research that is being carried out by Professor Donal O’Shea and the expertise of his collaborators in Deciphex, IBM Research and UCD.”

Over 300 applications were made under the first round. Successful projects have made it through a highly competitive process involving screening by a panel of international experts.