Thursday 25th September 2024
IntegrityIQ, the business behind an AI-driven platform designed to address failings in ethics and compliance in large multinationals, is set to become the first campus company to officially spin out of Trinity Business School.
It is hoped the move could be the first step in making Dublin a hub for ethics and corporate integrity in Europe.
IntegrityIQ is supported by The Learnovate Centre, a global research and innovation centre in learning technologies in Trinity College Dublin. In 2023, with Learnovate’s support, the environmental, social and governance (ESG) firm received €365,000 in funding under Enterprise Ireland’s Commercialisation Fund to bring the platform to market – a process due to culminate this year.
IntegrityIQ is attracting support from investors both in Ireland and internationally and was last week named a regional finalist in the InterTradeIrelandSeedcorn Investor Readiness Competition – one of three Dublin-based finalists in the New Start category.
The company’s mission is to help large multinationals address failings in ethics and corporate governance that are leading to huge annual losses from fraud, corruption and unethical behaviour.
The firm was founded in 2022 by Dr Daniel Malan and is co-owned with CEO Mark Shields.
Dr Malan is an expert in the field of Organisational Integrity and Director of the Trinity Corporate Governance Lab at Trinity College Dublin. He has served as co-chair of the Integrity and Compliance Task Force for Business Twenty (B20), the official business dialogue with the G20. He has also been a member of the World Economic Forum’s Global Future Council on Transparency and Anti-Corruption, and an advisory committee member on the Future of Trust and Integrity Project.
Mark Shields is an award-winning executive specialising in the development of ESG companies from start-up to SME level. Mark’s previous company, CR360, received a number ofhonours under his stewardship, including the Sunday Times Hiscox Tech Track 100, which recognises the UK’s fastest growing tech companies, and the Queen’s Award for Enterprise: International Trade.
Dr. Daniel Malan said: “It has been a fantastic 12 months for Integrity IQ. The €365,000 investment from the Enterprise Ireland Commercialisation Fund put us on a path to market readiness while Learnovate’s technical support helped us refine our AI platform and put us in a position to sign our first contracts with customers.
“Ireland has a strong tradition of corporate governance. Indeed, historical documents indicate that Ireland was the first country in the world to have a corporate governance code. We envisage Dublin as becoming the ethics and corporate governance capital of Europe, with IntegrityIQ being the first company in what we hope will be an entire business ecosystem focused on integrated integrity solutions rather than tick-box compliance.”
Shields added: “Fraud and unethical behaviour are having a huge negative impact on the bottom lines of so many businesses around the world. Our solution has the potential to make a significant difference by reducing the amounts lost to corruption and fraud through education, training, and an easy-access facility for whistleblowers to make protected disclosures. That’s why we are delighted that IntegrityIQ is on the brink of becoming the first company to officially spin out of Trinity Business School.”