Saturday, 12 August 2017

Young Irish start-up wins first prize for revolutionary new hearing aid

Dublin based start-up, Aurius, has won €10,000 as part of the annual Ireland Funds Business Plan Competition in partnership with the NDRC. Aurius offers affordable, high quality hearing aids paired with an app on a phone or tablet that allows users to tune the device at home. This breakthrough technology means that a visit to the audiologist is no longer required when common glitches occur, thereby saving the user both time and money.

CEO Paul Allan, a 22-year-old student at Trinity College Dublin said ‘The Business Plan Competition helped us greatly in understanding that, while we might have a brilliant product, it is our marketing strategy that will be key to our future success. The mentorship and networking opportunities provided by both The Ireland Funds and NDRC is second to none and I would encourage any early stage start-ups to consider applying for next year’s competition when the time comes.’

The €10,000 prize money will support Allan and the team Dinnaga Ranul Padmaperuma (20) and Luc Bellintani (19) in the expansion phase, predominantly bringing the product to market. 

In second place, Helixworks Technologies a Cork based biotechnology firm represented by Nimesh Pinnamaneni, has developed a new DNA writing technology that can write complex DNA code 10 times cheaper and faster than what is currently available to biotech companies. Luke Sexton and Daniel Beere came in third place with their product, Victor the VisaBot. Victor is a visa information text bot designed to solve systemic problems associated with securing travel visas.

Panel judge Gene Murphy, Entrepreneur in Residence at Bank of Ireland said ‘The standard of presentations from teams this year was really phenomenal. It’s great to see The Ireland Funds and the NDRC supporting young people in this space, to create the next level of indigenous talent that is Irish based and that can scale around the world’.

Notes for the editor: Gene Murphy was joined by panel of judges: Avril McHugh, Director, Group Marketing at Cpl Resources plc; Gareth Quinn, Managing Director of Digital DNA and Dermot Casey, Venture Investment Leader at NDRC
About The Ireland Funds: The Ireland Funds is a global philanthropic network established in 1976 to promote and support peace, culture, education and community development throughout the island of Ireland, and Irish-related causes around the world. visit: https://irelandfunds.org/

About NDRC: NDRC sources and builds digital companies to invest in. NDRC has a mandate from the State (Department of Communications, Climate Action and Environment) to make commercial investments in early stage startups, ensuring digital entrepreneurship is a vibrant and growing part of the economy. visit: http://www.ndrc.ie