There are up to 14 slots available on the new BioExel programme, supported by Enterprise Ireland.
An Tánaiste and Minister for Business, Enterprise and Innovation Frances Fitzgerald, TD, today (26 September) announced the launch of the BioExel accelerator to be based in NUI Galway.
The aim of the new accelerator is to further augment and enhance the Irish medtech start-up scene and attract global talent to the Galway region.
If successful, applicants will receive membership and be placed in NUI Galway for six months, where teams will build on their technologies by working with mentors and taking advantage of existing entrepreneurial networks.
Boosting medtech in Ireland
14 places are up for grabs over two cohorts, with the first to kick off later on this year. Applications are open from teams and individuals both from Ireland and further afield.
The BioExel programme is part of Enterprise Ireland’s mission to increase both the quality and the quantity of start-ups that have the potential to employ more than 10 people and achieve €1m in export sales within three years.
Fitzgerald announced the launch while on a trade mission with IDA Ireland and Enterprise Ireland in Singapore. She said: “Ireland is recognised as a key hub for medical technology and innovation, and the launch of this new accelerator is an opportunity to further build on our strong international reputation for excellence and innovation in healthcare and medtech.
“The accelerator programme located at NUI Galway and supported by my department, DBEI, through Enterprise Ireland will further enhance the High-Potential Start-up (HPSU) ecosystem and develop start-up capability, infrastructure and capital investment within the Galway region.
“We are delighted to support the initiative, which will go towards sustaining Ireland’s status as a global leader in medical technology innovation.”
Better patient care
HPSU start department manager at Enterprise Ireland, Tom Early, explained that Enterprise Ireland is working with BioExel as part of a wider strategy to “to improve the efficiency of the commercialisation process of new technologies, products and services, benefiting the health sector and society as a whole”.
Prof Lokesh Joshi, vice-president for research at NUI Galway, said BioExel would bring us closer to a more patient-focused medical landscape, while also stimulating job creation.
“The vision here is to create innovative medical technologies which are affordable and transformative for patients with both acute and chronic conditions.”