BioInnovate Ireland’s socioeconomic impact revealed in EY analysis [Video]

BioInnovate Ireland, a globally recognised hub for medical technology innovation, has revealed its significant socioeconomic impact for 2024.

Startups emerging from the BioInnovate Fellowship Programme have generated €69m in Gross Value Added (GVA) and supported 667 jobs through operational and capital investment activities across Ireland, according to a socioeconomic impact analysis by EY.

Over 70% of these startups are based in Galway, with €48m of the GVA directly benefiting the West of Ireland’s medtech sector.

This year, these startups have supported 405 jobs in the West alone, reinforcing the region’s status as one of the world’s largest medtech hubs.

Since its inception in 2011, BioInnovate Ireland, affiliated with Stanford University’s BioDesign programme, has been instrumental in fostering health technology innovation through its 10-month Fellowship Programme.

This programme, based at University of Galway and supported by Enterprise Ireland, employs the proven needs-ed innovation approach to develop solutions for unmet and under-met healthcare …