A multi-million euro investment has been announced as part of an effort to further develop the healthcare technology sector in Galway.
More than €34 million is being provided for a new Accelerating Research to Commercialisation (ARC) Hub, which aims to fast-track innovative health solutions.
The Hub for HealthTech will involve the University of Galway, Atlantic Technology University and the RCSI University of Medicine and Health Sciences.
A total of 23 projects have been awarded funding to allow for further research. All are deemed to have strong potential to improve patient outcomes and could be rapidly scaled up, if successful.
The finance is being provided by the Government and the European Regional Development Fund. The initiative aims to support the development of cutting edge research, with a commercial potential.
It will also augment the already thriving medtech sector in the west, which employs thousands of people in the region and relies heavily on a pool of high skilled graduates from local third level institutions.
The Hub will combine clinical and commercial expertise, which will work to develop new treatments and technologies to deal with chronic illnesses.
Among the areas of focus are smart implants, advanced wearable devices and high tech sensors, to detect and monitor patients' conditions.
The centre will support researchers, provide regulatory insights and work with companies to bring new products to market, in as timely a fashion as possible.
Minister for Innovation James Lawless said it has the potential to help transform entrepreneurial training in the North West region. He envisages the investment enhancing healthcare and technology 'ecosystems’, as well as ensuring health solutions are available to those that need them, in a faster time-frame.
The announcement has been welcomed by the University of Galway. Its Interim President, Peter McHugh, said it recognised the power of regional collaboration and the strength of the area’s academic and clinical talent.
Describing it as a "formidable alliance", Professor McHugh said the Hub would address many healthcare challenges and harness innovation for the benefit of communities nationally and internationally.
