GMIT New Frontiers announces best emerging business awards

THE creator of an innovative power cell technology has won the top prize in the GMIT New Frontiers Best Emerging Business Awards.

Dr. Barry Flannery from Galway has won €10,000, sponsored by KPMG, for his electric auxiliary power unit which provides power to long-haul truck cabins during mandatory stop-overs.

Mark Corrigan from Castlebar, founder of Marine Cable Services, claimed the runner-up prize of €1,000, sponsored by AIB. Mark is an experienced commercial diver and joined New Frontiers with an idea for near shore power and data cable trenching.

His team has already commenced building their prototype and have secured a trade agreement with a significant industry partner.

Funded by Enterprise Ireland, New Frontiers is a business start-up process delivered through GMIT Innovation Hubs in Galway and Mayo. It has supported 83 entrepreneurs since inception in 2012 and over 60 new businesses have emerged. Twenty-two of these businesses have secured over €1.1m equity investment from the Enterprise Ireland Competitive Start Fund and another €10m from private investors, venture capital and Enterprise Ireland High Potential Start-Up (HPSU) funding.

These companies have created jobs, developed intellectual property, created excellent products and are exporting throughout the world.

For further information about the New Frontiers Programme in GMIT, see www.gmit.ie/newfrontiers