Knowledge Transfer Ireland Case Study: TU Dublin Spinout Micron Agritech
Overview
Micron Agritech, a spin-out from Technological University (TU) Dublin, is transforming livestock health management by significantly reducing the time required to detect parasitic infections. Their flagship product, the Micron Kit, offers an app-based, on-site testing solution that provides results in just 30 minutes, compared to the traditional two-day wait for lab results. This innovative technology empowers farmers and veterinarians with faster, more efficient tools to enhance animal welfare and boost agricultural productivity, all while addressing the growing concern of medication resistance in livestock.
Role of TU Dublin’s Innovation Office
The journey of Micron Agritech was propelled by the critical support of TU Dublin’s Innovation Office. Recognising the potential of the Micron Kit, the office provided key assistance in securing intellectual property rights, navigating the complex licensing process, and managing essential tasks like patent drafting and funding acquisition. This strategic guidance was crucial in advancing the product from a student project to a market-ready solution.
Investment and Expansion
Micron Agritech’s innovative approach quickly attracted significant investment. The company raised €500,000 in seed funding to support early-stage development, followed by an additional €1.5 million to bring the Micron Kit to market. Further investment of €2.7 million has since been secured, reflecting investor confidence in the product’s potential to revolutionise livestock health diagnostics.
With these funds, Micron Agritech is expanding globally, focusing initially on Ireland and the UK. The company has already achieved major milestones, including opening a UK office and making initial sales.
Addressing Critical Agricultural Challenges
The Micron Kit addresses a vital need in modern agriculture: fast, reliable testing for parasitic infections in livestock. By reducing testing time to just 30 minutes, farmers can take immediate, targeted action to treat infections, preventing the buildup of medication resistance that can occur with delayed or unnecessary treatments. This leads to healthier animals, improved farm productivity, and more sustainable farming practices.
Global Impact
Micron Agritech’s innovative solution has the potential to make a lasting impact on global agriculture. With strong support from TU Dublin, solid financial backing, and an ambitious global expansion strategy, the company is well-positioned to scale internationally and contribute to the sustainable management of livestock health worldwide.
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Key Success Factors
- The Micron Kit delivers results in 30 minutes, compared to the typical two-day lab turnaround.
- TU Dublin’s Innovation Office supported the founders with intellectual property protection, licensing, patent drafting, and funding acquisition.
- The company has secured €500,000 in seed funding, €1.5 million for market launch, and €2.7 million for further expansion.
- Micron Agritech is initially expanding in Ireland and the UK, with plans for further international growth.
- The solution addresses medication resistance, promoting healthier livestock, higher productivity, and sustainable farming practices.
- Micron Agritech started as a student project within the Product Design program at TU Dublin’s School of Art and Design, in partnership with CreateLAB, a university initiative that supports industries with product design and development expertise.