Powerscourt Capital, Enterprise Ireland and other private investors have injected €500,000 into a new Irish technology start-up aimed at revolutionising television advertising.
Powerscourt is led by Sean Melly, a candidate for the forthcoming Seanad election and chair of Trinity College Dublin's Business School.
The company receiving the equity investment is TVadSync, the brainchild of Ronan Higgins and Pieter Oonk, which was founded to address changing TV viewing behaviour. Melly is also its chairman.
The business taps into the 'second screen' phenomenon, whereby an increasing number of people who watch television do so while also browsing the internet on another device at the same time.
A February study by Britain's Internet Advertising Bureau found that just half of adults now see the TV set as the focal point of their living room, with 70pc reporting that they use a connected device like a smartphone whilst watching TV. This rises to 87pc among 16-34-year-olds. During TV programmes, over one third (34pc) said they checked emails, 31pc used messaging services and a quarter shopped online.
TVadSync helps advertisers to take advantage of this, syncing up online advertising with what appears on people's TVs. Last year, the company was included on Unilever's list of the world's most promising technology start-ups.