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Proposed measures include the establishment of a National Fintech Hub and a new government strategy to support the semiconductor industry.
The new Programme for Government, which was was ratified by the Fine Gael parliamentary party yesterday (20 January), could have interesting implications for the sci-tech sector in Ireland.
The plan aims to provide a roadmap for the new Government for the next five years.
The proposals contained in the Programme are important given that sci-tech is a powerhouse sector in Ireland. According to BioPharmaChem Ireland and Irish Medtech (the Ibec groups which represent these sectors), Ireland is home to more than 700 biopharma, medtech and digital health companies which employ more than 102,000 people and export goods worth €116bn annually.
And as part of the new 160-page Programme, a number of changes have been proposed with the intention of bolstering sci-tech in Ireland.
Life sciences strategy
The government announced its intention to develop a new National Life Sciences Strategy to ensure that this “sector remains competitive”.
It also aims to “ensure Government adopts a coherent and ambitious approach to future opportunities”.
Focus on semiconductors
There are plans to implement a targeted approach to support and develop what the government called “key economic sectors”, including a new strategy relating to semiconductors and in areas “where we have a strong competitive advantage, including in pharma and medtech, ICT and digital, financial services and the agri-food sector”.
These proposed changes fall under the Enterprise and Employment section of the Programme.
Artificial intelligence
The publication and roll-out of a new National Digital Strategy is being planned, in order to “fully realise the economic potential of the digital and AI revolution”.
In addition, the development of new clean technologies to facilitate decarbonisation is being proposed.
The planned change follows the previous Government’s work last November to update Ireland’s national AI strategy.
Fintech hub
To promote the fintech industry in Ireland, the Government wants to collaborate with fintech leaders by establishing a National Fintech Hub.
The Government asserts that by doing this, it will help to foster innovation, as well as support fintech initiatives throughout the nation.
It also said that it is essential for Ireland’s finance sector to be supported to allow it to “innovate, enhance its competitiveness and take advantage of opportunities in new areas like fintech and green financing”.
Data centre measures
There is a section in the Programme dedicated to Data Centre Policy.
According to the Government, its proposed measures include: allowing data centres that contribute to economic growth and efficient grid usage, such as prioritising waste heat capture for district heating systems and other local uses; enhancing data centres’ use of renewable energy sources, energy efficient technology and effective solutions, such as waste heat capture to reduce their carbon footprint; and scaling up investment in infrastructure and in Ireland’s electricity grid.
There are also plans to provide nationwide 5G for high-speed connectivity and expedite the publication of a Private Wires Policy Framework.
Aspirations for leadership
The Programme also envisions Ireland as a “leader in the Digital Economy and AI”.
Some of the planned measures to facilitate this will include: investments to make Ireland an EU centre of expertise for digital and data regulation, as well as being a regulatory hub for companies operating across the EU Digital Single Market; realising the benefits of digitalisation (including AI) to increase productivity of Irish businesses; and a commitment to work with Ireland’s EU partners.
In addition, the Government has given an assurance to provide citizens with the choice of better public services online (while also increasing the efficiency of service delivery though digitalisation of public services) and to implement an eInclusion Strategy to “ensure no one is left behind by the move to a digital society”.
Health
Contained in the Programme is a section describing “a new era of innovation and digital transformation in health”.
Proposed measures include: the launch of a National Patient App; the development of an AI in Health strategy; an affirmation to promote greater use of remote health monitoring and virtual care solutions; and progress on the implementation of the collaboration agreement Ireland has with the World Health Organisation.
“One of the country’s most notable success stories is the life sciences industry with the world’s top companies investing heavily here and creating jobs alongside homegrown businesses driving disruptive innovation,” said director of BioPharmaChem Ireland, Dr Sinead Keogh
“To sustain our hard-won competitiveness, we must ensure collaboration across government, industry and research to deliver the right policies and foster a business environment that empowers cutting-edge innovation.
“The National Life Sciences Strategy will help ensure coordination and prioritisation of state resources as well as fit for purpose regulation. The strategy will also support scaling of local enterprises, attract global investment and drive health system improvements, creating high-value jobs and economic growth in the process.
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