Focus on DkIT-RDC Client, Nova Leah
Founded by: Dr. Anita Finnegan
Supports: Research | New Frontiers | Technology Transfer | Incubation | HPSU
Nova Leah Limited founders: Anita Finnegan along with Peter Finnegan and Dr. Fergal McCaffery (Director of the Regulated Software Research Center at Dundalk Institute of Technology).
Nova Leah, a Dundalk Institute of Technology spin-out, has carved itself a niche in the supply of products to analyse the cybersecurity risk of connected medical devices. The founding technology, SelectEvidence®, developed by Dr. Anita Finnegan, is an automated platform solution for monitoring medical devices to protect them from cybersecurity threats. Nova Leah specialises in developing expert cybersecurity risk management systems specifically for medical devices.
The establishment of Nova Leah has been enabled by a number of government and Enterprise Ireland initiatives.
Anita came to DkIT under the Department of Education’s Springboard programme to re-skill with a Diploma in Computer Science. Following the conclusion of that programme Anita joined Dr. Fergal McCaffery’s Regulated Software Research Centre [RSRC] as a researcher on an Enterprise Ireland Commercialisation Fund programme called Medical Devices – Product and Process Cybersecurity Assurance. Anita progressed through a Masters Programme and onto a Ph D programme during her time as a researcher with the RSRC.
Through the Enterprise Ireland Commercialisation Programme, the RSRC team developed SelectEvidence® which was then licensed from DKIT to Nova Leah Ltd, a spinout company founded by Anita Finnegan and Fergal McCaffery. Throughout the journey, from technology inception to spin-out creation, the TTO has worked with the founding academics.
The team supported the original funding application and contract negotiation, implemented an IP strategy and facilitated IP management, provided licensing support and ultimately aided the formation of the company and securing of ongoing funding. Anita was also a participant on the New Frontiers Entrepreneur Development Programme at DKIT and has based Nova Leah at the Institutes Incubation centre. The company benefit from ongoing support and guidance from the Incubation Centre Manager and the Technology Transfer Office.
The Growth of Nova Leah
The company raised initial funding from a US based venture capital company – COSIMO Venture Partners and was accepted to Enterprise Ireland High Potential Start-Up (HSPU) programme in 2015. Having established an office in Boston in 2017 they are now embarking on a second funding round from US investors targeting €2-5m.
Nova Leah’s first significant medical device customer was a Fortune 500 company, Fresenius Medical Care with corporate headquarters based in Bad Homberg, Germany and revenue of ~$18 billion. They have secured multi-seat licence agreements with 2 other US multinationals and are in negotiations with several other US and European companies. Nova Leah was named the Best Early Stage Company in the Connaught and Leinster final of the 2017 InterTradeIreland Seedcorn Investor Readiness competition and Anita was a finalist in the 2017 Women Mean Business Awards.
Nova Leah limited is to be included in the Irish Small Business 50 2018 awards hosted by the Irish Echo and the Irish American Business Chamber and Network of Philadelphia, USA.