An economic report on CÚRAM, the Science Foundation Ireland research centre for medical devices, puts its value to the economy at €756m.
CÚRAM was established at the University of Galway in 2015 with an initial commitment of Government investment of €64.8m.
The economic impact analysis was carried out by Mazars and shows that investment in CÚRAM, to the end of 2023, has led to direct spending of €210m in the Irish economy and the generation of a further €546m in economic activity.
The research centre has helped to expand Ireland's attractiveness as a global hub for the medtech sector - one of only a handful of locations in the world - by establishing partnerships and by fully funding or co-funding collaborative projects with 47 innovative companies in the sector.
The analysis found that investment in CÚRAM has supported a total of 2,547 jobs in the Irish economy.
In addition, more than €80m of EU grant funding has been committed to research projects at CÚRAM.
Minister for Further and Higher Education, Research, Innovation and Science, Patrick O’Donovan, congratulated CÚRAM for its significant impact on the Irish economy and society.
"This report demonstrates the importance of the Government’s policy of continuing to invest in research and innovation and supporting excellence and scale through the world-leading SFI Research Centre Network, in areas of strategic national importance," he said.
CÚRAM Director, Professor Abhay Pandit, said: "Addressing chronic disease to support healthy aging is one of the most pressing public health and economic challenges of our time. Our research programme is developing solutions to help us all live well as we age, with conditions like cardiovascular disease, diabetes and neurological disorders."
CÚRAM has a further three years of operation left in its current Government funding period to build even further on its impact.
By connecting the patient voice with the combined expertise and technologies of Ireland's leading scientists, clinicians and engineers from ten universities, alongside international industry partners, the centre ensures that its research is shaped and guided by the invaluable perspectives of people with lived experience of chronic illness.
