At the end of a decade I managed to get involved with a new project. It’s a combined project between the NDRC in Ireland & CAST in Wales. Inventorium is part funded by the European Regional Development Fund (ERDF) through the Ireland Wales Programme (INTERREG 4A).
Quoting from the NDRC website: “Inventorium is a three year inter-regional project designed to establish a sustainable distributed mechanism for the generation of new ideas that will lead to the formation of new businesses or contribute to sustaining existing businesses, with particular focus on digital technologies for health, public services, education, leisure, entertainment, environment and transport.
It will aim to develop and test systematic methodologies for early stage knowledge interchange, support initial conceptualisation of products and services based on innovative technologies, provide channels of communication between potential and existing stakeholders (including SMEs, MNCs, public bodies, academic and research institutions and interested individuals) and provide mechanisms and supports for activities leading to the generation and subsequent early-stage commercialisation activities of innovative technical solutions to real-world problems.”
Now what that means is that we will look at problems/challenges in the private & public sector. This could be challenges in their current procedures or business models or it could be the need for certain technological solutions. We will cast our net wide. At the same time we will look for providers of sulutions, entrepreneurs & innovators. Basically people who can address the challenges and solve the problems that we discover. What Inventorium will do is bring together a party with a problem/challenge with someone who can possibly develop a solution. We will then assist, guide & support these two parties in the development process with as ultimate aim the creation of a new commercial venture.
What we won’t do is provide funding, however if needed we will provide introductions to sources of funding. We are also not an incubator. However we have a great team spread over Wales & Ireland with a wealth of experience and connections. This will all be applied to bringing people from both areas together and to merge existing technologies & knowledge together with opportunities or needs and create the seeds for commercial success.