Movidius wins first Romanian R&D grant from EU

Dublin-based Mobile video chip startup Movidius has won an EU research and development grant for a team of academics and engineers in Romania to work on 3D technology.

The venture backed company has had a substantial development presence in Timisoara, Romania, since it started, and now employs over 30 engineers focused on software development for the Myriad platform.

The grant comes from the EU Regional Competitiveness and Employment Objective which aims to promote  innovation, entrepreneurship and environmental protection, and so is jointly funded by the European Regional Development Fund and the European Social Fund. This was part of the first call for such EU-funded R&D projects by the Romanian Government.

“This is great news for our centre here in Romania,” said Dr Valentin Muresan, General Manager of Movidius’ Romanian business.

“Romania is an exceptional region in terms of producing highly-skilled software developers. The news of this grant will further stimulate our development capability and allow us to incorporate more future-looking applications, especially in the field of 3D video where Movidius already has a significant technological advantage.”

Movidius has offices in Dublin and Hong Kong, and is backed by venture capital from Celtic House Venture Partners, Capital-E, Emertec Gestion, AIB Seed Capital Fund and Enterprise Ireland.

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