Vennetics Awarded Share of €4 Million Innova Fund

Vennetics, an innovator of telecommunications and IT applications, today announced that it had been awarded a share of Intertrade Ireland’s €4 million Innova Fund.


The project that Vennetics and Instil Software are jointly bringing to market is called Moozler. Moozler takes the best parts from the VoIP world and combines them with best aspects of the mobile world. The result is our ground breaking client for smart phaones, tablets and laptops.


Ivan McShane, Engineering Director at Vennetics said, “With any PC based solution, the factor that is most important in determining the success or otherwise of the system is the user experience. Vennetics has been developing advanced Voice over IP Server technology for mobile operators for some time now but irrespective of how many innovative capabilities we support, if the experience on the PC screen of the end user is not compelling then the solution will not be used. We had looked for some time to find a partner in this area and were delighted when InterTrade Ireland were able to introduce us to Instil through their business networking activities. We are now working together to ensure that when we do launch Moozler in Q1 2010 that it will be simple, intuitive and fun to use.”


Liam Nellis, CEO InterTrade Ireland


InterTradeIreland Chief Executive Liam Nellis said: “Innova helps companies to work together to develop new products with demonstrable commercial potential and bring them to market faster than if they were working alone. Vennetics and Instill were technically, commercially and financially assessed by a team of experts and the competition is tough. Both companies should be very proud of their achievement of making it on to the Innova programme and we look forward to releasing a further €7.6m later this year for other projects that make the grade. Indeed, we are currently taking expressions of interest from more companies looking to undertake cross-border R&D.”