Manufacturing & Supply Chain

CÚRAM, the Science Foundation Ireland (SFI) research centre for medical devices based at the University of Galway, has launched an economic report that puts its value to the Irish economy at €756 million, building on 10 years of public investment. CÚRAM was established in 2015 with an initial commitment of Government investment of €64.8 million through Science Foundation Ireland.

Economic impact analysis carried out by Mazars shows that investment in CÚRAM, to the end of 2023, has led to direct spending of €210 million in the Irish economy and the generation of a further €546 million in economic activity in Ireland – putting its economic value at €756 million and a more than 12-fold return on government funding.

CÚRAM 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.

Investment in CÚRAM has also supported a total of 2,547 jobs in the Irish economy.

In addition, more than €80 million of EU grant funding has been committed to research projects at CÚRAM.

Welcoming the report, Minister for Further and Higher Education, Research, Innovation and Science, Patrick O’Donovan, T.D., said: “I congratulate 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.

CÚRAM provides innovative solutions for industry and society, which enable better quality of life for patients. As our population ages, this is helping us to create a better tomorrow for all citizens.”

Professor Ciarán Ó hÓgartaigh, President of University of Galway, said: “I would like to congratulate CÚRAM as they mark ten impactful years of research. The centre epitomises what it means to be for the public good. The real value of CÚRAM remains its people and its key strength lies in building collaborations and networks that generate impactful research.”

Siobhan Roche, Director of Science for the Economy at Science Foundation Ireland, said: “CÚRAM has a strong track record of generating high quality research and training the next generation of medical device researchers. The Centre’s deep commitment to education and public engagement is not only inspiring younger generations to pursue a career in STEM but is also promoting new approaches in the management of chronic illness. Amplifying its impact, CÚRAM has attracted over €225.7 million in additional investment from industry and EU sources, further highlighting the value of publicly funded research to the Irish taxpayer.”

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 10 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.

Eoghan Ó Faoláin, Director of Irish MedTech: “Ireland is one of the top employers of MedTech professionals in Europe and it is in no small part due to our rich talent pool of third level graduates and dynamic supports for upskilling. By fostering collaboration between higher education and MedTech industry, CÚRAM’s training programmes equip the workforce with the skills most in demand now and into the future. These programmes are an incredibly valuable component of Ireland’s drive to develop the diverse and best in class talent needed to support the future success and competitiveness of the global MedTech hub in Ireland.”