Business Planet heads to Ireland to take a look at an online hub that’s creating new investment opportunities for EU backed research and innovation.
RedZinc is a specialist in video telemedicine. Its software and wearable cameras enable medics to connect remotely with both patients and each other in real-time.
The award-winning tech, which can be used in-hospital and in remote locations, has proved crucial during the pandemic, helping healthcare professionals to improve diagnosis and treatment, all from a distance.
Donal Morris, CEO and Founder of the company admits the pandemic has been a springboard.
"We started off with wearable videos for paramedics for medical people on the move. It’s expanded out now to resuscitation room support and COVID isolation."
Senior officials inside Ireland’s health service say the tech is helping to revolutionise how care is delivered.
"This technology is creating the opportunity for transforming healthcare at the point of need. For example, thanks to this technology, a paramedic can now, in real-time, initiate a video call with an A&E consultant and together they can jointly access the patient and decide the next steps," says Martin Curley, the Director of Digital Transformation and Innovation at Ireland's Health Service Executive (HSE).
RedZinc got two million euros under Europe’s Horizon 2020 programme. But more recently, thanks to an online hub called the Horizon Results Platform, it has been able to meet and pitch to private investors.
Morris says the platform has been very beneficial for his business. "It has allowed us to go out and connect with investors across Europe. But more importantly, it has allowed us to get our business investor-ready."
As a result, RedZinc is now out on the Spark Crowdfunding Platform. The goal is to scale up the business.
'At the forefront of innovation'
The Horizon Platform promotes all EU-funded research and innovation. It aims to build a bridge between Europe’s most innovative startups and private investors seeking fresh opportunities.
Cyril Demaria is a fund manager. He told us about how helpful the platform is to investors. He says that it's great because it provides a kind of one-stop shop that covers a wide array of opportunities that he can then filter down. It also gives him pan-European coverage that he doesn't usually get.
Another advantage of the Horizon Results Platform, according to Demaria, is its a "drilled down view on what’s happening at the core of European technology".
Companies are able to use the platform to improve and continue their development. In the case of RedZinc, the company is now looking to scale up. It's also actively looking to resolve the backlog of medical education programmes that have stalled across Europe during the pandemic.