NUI Galway Students Secure €50,000 in Competitive Start Funding
Monday, 10 December 2012
Pictured NUI Galway Engineering students Justin Conboy and Dearbhaile Forde, with fellow student Garrett Archbold.
Two NUI Galway students have won €50,000 in Competitive Start Funding from Enterprise Ireland with their energy saving product. The team consists of NUI Galway Engineering students Justin Conboy and Dearbhaile Forde, who beat off stiff competition with their Drag Reduction System.
The second year engineering students invented a drag reduction device which can reduce the drag between a truck and its container load so significantly that it will reduce fuel consumption of the truck by 8%. The Competitive Start Fund award will be used to accelerate the growth of the students company Cú Buí Engineering Concepts Ltd., trading as Drag Reduction Systems Ireland/drs.ie and Aerosleek.com. This award will enable the company to reach key commercial and technical milestones and provide them the capability to succeed in global markets.
The Competitive Start Fund is to accelerate the growth of start-up companies that have the capability to succeed in global markets. The fund is designed to enable those companies reach key commercial and technical milestones. The fund was open to applications from early stage companies, from the following sectors: Internet, Games, Mobile, Apps, SaaS, Cloud Computing, Enterprise Software, Lifesciences, Cleantech and Industrial Products.
Congratulating the award winners on their success, Mary Dempsey, College of Engineering and Informatics, NUI Galway, said: “The CSF award of €50,000 is an outstanding achievement for our undergraduate students. These budding engineers have demonstrated how design, innovation and creativity are critical components of engineering education which can translate into a commercially viable business. Their recipe for success has included self belief and resilience. It is heartening to witness their energy and enthusiasm and I congratulate them on their achievements.”
Author: Marketing and Communications Office, NUI Galway