LaNua Medical wins Big Ideas Award at Enterprise Ireland’s Start-Up Day 2024

Dr. Cormac Farrelly of UCD spin-out LaNua Medical, was presented with the Big Idea’s Award by Minister for Enterprise, Trade and Employment Peter Burke at Enterprise Ireland’s Start-Up Day 2024 in Dublin Castle.

LaNua Medical was one of 10 investor-ready potential spin-outs that had three minutes to pitch their new technology solutions to a 600 strong audience made up of representatives from the Irish Start-up ecosystem including VCs and other funders, State support agencies & professional and financial services.

The award was presented to Dr. Cormac Farrelly, for the outstanding pitch of the day. LaNua Medical which is an Enterprise Ireland commercialisation funded project approaching spin-out, is developing solutions for problems in embolization, a minimally-invasive procedure that can be used to treat internal bleeding or cause tumour-necrosis. Its GateKeeper device blocks blood flow to select tissue, while enabling targeted therapeutic delivery with reduced risk of side effects.

As part of the Big Ideas award, LaNua Medical will now go on represent Ireland at the Pegasus Start-Up World Cup in San Francisco later in the year.

Cristina Purtill of Plio Surgical received the Big Ideas runner-up award on the day and will also travel to San Francisco to attend the Start-Up World Cup.

Presiding over the awards, Minister for Enterprise, Trade and Employment Peter Burke TD said, “I would like to congratulate LaNua Medical, a worthy winner of today’s Big ideas award and I have no doubt will go on to make Ireland proud at the International Start-Up World Cup in the US. Enterprise Ireland’s Start-Up Day offers an exciting snapshot of the future, showcasing investor-ready start-ups with disruptive technologies that will change our world for the better, as well as providing opportunities for keen investors.”

Start-Up Day 2024 hosted the ‘Class of 2023’ High Potential Start-Up companies that Enterprise Ireland invested in during 2023. The event also played host to technology-based companies with origins deep rooted in ground breaking research. In 2023, 24 companies were spun out of third level institutions, 16 of which were supported through the Enterprise Ireland Commercialisation Fund Programme.

Minister Burke continued, “Supporting the commercialisation of research allows us to develop the next generation of innovative High Potential Start-Ups (HPSUs) and last year, 12 HPSUs were successfully generated in partnership with our third level institutions. The government through Enterprise Ireland is committed to supporting the innovative work that is being done in our academic institutions and we look forward to working with these spin-out companies to help them grow and scale.”

Leo Clancy, CEO, Enterprise Ireland said, “The Big Ideas pitching element and awards at Start-Up Day provides a platform to showcase Enterprise Ireland’s commercialisation funded research approaching start-up status, with significant potential for success. The event also highlights the accomplishments of our national technology transfer system, the high calibre of research commercialisation activity within Ireland, and the significant impact these companies will have to help solve huge global challenges. I wish to congratulate LaNua Medical on their achievements to date and wish them every success at the Start-Up World Cup and beyond.”

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