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Friday, July 19, 2024

Northern Ireland Startups Secure Funding For Growth And Innovation

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Northern Ireland’s startup scene is thriving as innovative companies secure funding to further their growth and development.

Two recent success stories are Rep-Tec and GenoME Diagnostics, both of which have received substantial funding to expand their teams and invest in research for new solutions.

Rep-Tec, a recycling solutions company, secured a £300,000 loan from Whiterock Finance’s Growth Loan Fund II. This funding will enable them to continue designing and manufacturing automated recycling solutions that are environmentally friendly.

Meanwhile, GenoME Diagnostics, a cancer diagnostics company based in Belfast, has closed a funding round of £1.4 million to develop a novel blood test for the earlier and more accurate detection of ovarian cancer. This funding will allow them to complete testing phases, file for regulatory approval, and expand their technology to other cancer types.

These successes showcase Northern Ireland’s potential for innovation and advancement in various industries. In this article, we will explore Rep-Tec’s goals and recycling solutions, as well as GenoME Diagnostics’ funding round and their efforts to improve cancer detection and care.

Rep-Tec’s Growth and Goals

Rep-Tec’s recent acquisition of a £300,000 loan from Whiterock Finance’s Growth Loan Fund II has enabled the company to expand its team and invest in research for new environmentally friendly solutions, reflecting the rapid expansion of the automated recycling solutions provider due to the increasing demand for more automated systems.

The company, which designs and manufactures automated recycling solutions for the waste management industry, has sold and installed its first robotic recycling system in Ireland in 2021. With the additional funding, Rep-Tec plans to expand its team and invest in research to develop new and innovative environmentally friendly solutions for the waste management industry.

The company’s founder, Colm Grimes, has expressed his excitement about the potential for Rep-Tec to make a significant impact in the industry, stating that the funding will allow the company to ‘develop new and innovative solutions that will help to reduce waste and promote sustainability.

Senior investment manager at Whiterock Finance, Jenna Mairs, is also excited to see the company’s progress and believes that Rep-Tec has the potential to become a major player in the waste management industry.

With the increasing demand for automated recycling solutions, Rep-Tec’s expansion plans and research and development efforts are likely to help the company meet the needs of the industry and contribute to a more sustainable future.

Rep-Tec’s Recycling Solutions

The manufacturing of automated recycling solutions by Rep-Tec has expanded rapidly due to the need for more efficient waste management systems. Rep-Tec designs and manufactures recycling solutions that are automated, making them more efficient and environmentally friendly. With the £300,000 loan secured from Whiterock Finance’s Growth Loan Fund II, the company plans to expand its team and invest in research for new solutions that are even more environmentally friendly.

To achieve its goals, Rep-Tec has sold and installed its first robotic recycling system in Ireland in 2021. This achievement has enabled the company to demonstrate the efficiency and effectiveness of its solutions. In addition to expanding its team and investing in research, the company aims to continue selling and installing more robotic recycling systems to meet the needs of the waste management industry.

  • Rep-Tec designs and manufactures automated recycling solutions that are more efficient and environmentally friendly.
  • The company plans to expand its team and invest in research for new solutions that are even more environmentally friendly.
  • Rep-Tec has sold and installed its first robotic recycling system in Ireland in 2021, and aims to continue selling and installing more systems in the future.

GenoME Diagnostics’ Funding Round

Belfast-based GenoME Diagnostics has closed a funding round of £1.4 million to further develop OvaME, a novel blood test for earlier and more accurate detection of ovarian cancer. The funding will enable the completion of the testing phase, filing for EU regulatory approval, expanding regulatory approach to the UK and North America, and extending technology to additional cancer types.

The funding round was supported by QUBIS, Co-Fund NI, Deepbridge Capital, and a £500,000 InnovateUK Biomedical Catalyst grant.

GenoME Diagnostics aims to improve patient survival and quality of life through affordable and highly accurate tests. The company’s CEO, Dr. Shannon Beattie, emphasized the importance of early detection of ovarian cancer, which is often diagnosed at a late stage, leading to poor outcomes.

With the new funding, GenoME Diagnostics hopes to bring their innovative solution to the market and make a significant impact in the fight against ovarian cancer and other types of cancer.

OvaME Blood Test

A breakthrough in cancer diagnosis is on the horizon with the development of OvaME, a highly accurate blood test for earlier detection of ovarian cancer, which could potentially save millions of lives.

The funding round of £1.4 million secured by GenoME Diagnostics will allow the completion of the testing phase, filing for EU regulatory approval, expanding regulatory approach to the UK and North America, and extending technology to additional cancer types.

The OvaME blood test is a novel approach to cancer diagnosis that aims to improve patient survival and quality of life through affordable and highly accurate tests.

With the completion of the testing phase and regulatory approval, the OvaME blood test could revolutionize cancer diagnosis and treatment, providing earlier detection and more accurate results.

The funding secured by GenoME Diagnostics is a significant step towards achieving this goal and could potentially save millions of lives in the future.

Improving Cancer Detection and Care

Improving cancer detection and care is a critical area of focus for innovative companies like GenoME Diagnostics.

The Belfast-based cancer diagnostics company recently closed a funding round of £1.4 million, which will be used to further develop their novel blood test, OvaME, for earlier and more accurate detection of ovarian cancer.

The company aims to improve patient survival and quality of life through affordable and highly accurate tests.

The funding round will allow GenoME Diagnostics to complete the testing phase, file for EU regulatory approval, expand regulatory approach to the UK and North America, and extend technology to additional cancer types.

The company’s mission is to provide accessible and effective cancer diagnostics that enhance the quality of life for patients.

The funding support from QUBIS, Co-Fund NI, Deepbridge Capital, and InnovateUK Biomedical Catalyst grant will enable GenoME Diagnostics to achieve their goals and improve cancer detection, care, and treatment options.

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Eric
Eric
Eric is a talented writer who has worked as a journalist for 8 years now. With a wealth of experience in journalism, he brings a unique perspective to his work. Eric is known for his ability to write about complex topics in a way that is easy for readers to understand. His articles are insightful and thought-provoking, and he always strives to provide balanced coverage of the news. Eric is dedicated to his craft and spends countless hours researching and fact-checking his stories. When he's not writing, Eric enjoys hiking, reading, and spending time with his family.

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