A new spin-out from the Royal College of Surgeons in Ireland (RCSI) by the name of i360medical is aiming to be an innovation enabler to help bring healthcare ideas and medical technologies to market and spawn new start-ups.
The company, which was formally known as the Centre for Innovation in Surgical Technology at the RCSI, said it will be tapping into Ireland’s medical device expertise and teaming up with companies that are operating in the area of healthcare innovation.
For instance, representatives from the healthcare corporate venturing unit Cleveland Clinic Innovations will be working with i360medical, as will the US-based medical technology development company Synecor and the venture capital fund Kernel Capital.
The premise behind i360medical is to act as a conduit between the healthcare, clinical, academic and business sectors in order to develop and commercialise new ideas and solutions.
Derek Young, the founder and CEO of i360medical, spoke today about how Ireland has a "unique" opportunity to become a global epicentre for the design and innovation of medical technologies.
“i360medical aims to provide the right environment to allow clinicians, healthcare professionals, engineers and researchers to identify unmet needs and develop relevant new technology solutions," he said.
Young said the company has come up with a model to support the development of new medical device and healthcare solutions.
“We now have the structure and support to ensure that we can identify, evaluate and develop start-ups and ultimately commercialise any new opportunities, ideas and solutions in the healthcare technologies sector."
The company has also forged alliances with global education and research institutions, including Cleveland Clinic, Mayo Clinic, Synecor and St Vincent’s Hospital in Sydney.
As well as this, i360medical is planning to work with universities in Ireland.
Siliconrepublic.com is hosting Med Tech Focus, an initiative which over coming months will cover news, reports, interviews and videos, documenting Ireland’s leading role in one of the hottest sectors in technology.