DCU, Tyndall Spinout Attracts Investment

In Ireland, Pilot Photonics Ltd., a spinout company of Dublin City University and the Tyndall National Institute in Cork, has raised €300,000 (about $392,000) from Enterprise Ireland and AIB Seed Capital Fund to tackle the Internet capacity crunch. The investment will allow company directors Dr. Philip Perry and Dr. Frank Smyth to find a route to market for their optical networking technology, which has the potential to dramatically increase the speed of the Internet. Enterprise Ireland's earlier commercialization funding allowed the technology inventors to bring commercially relevant aspects of their work to a spinout-ready state.