Taoiseach describes medtech sector as “key driver of economic growth”

The Taoiseach has described as "mind-blowing" the work being conducted by some 300 scientists and researchers in biomedical science at NUI Galway (NUIG), and said the sector was a "key driver of economic growth".

Opening a €30 million biomedical science building on the River Corrib campus yesterday, Mr Kenny said Galway was now one of five global hubs in the medtech sector, which had a market worth €95 billion annually in the EU.

Bank of Ireland is a key financer of the new building, which received €20 million in State funding through the State's Programme for Research in Third Level Institutions and the European Regional Development Fund and €10 million in private support.

It is located close to nine of the world's 10 leading "medtech" companies, according to NUIG president Dr Jim Browne.

The building houses a cluster of NUIG’s “world-leading biomedical research groups in areas such as regenerative medicine and stem cell research, cancer biology, biomechanics and biomaterials”, Mr Kenny noted.

“Already 250 medical technology companies based in Ireland export €7.9 billion worth of product annually and employ 25,000 people,” Mr Kenny said.

“By bringing the best and brightest together in such an innovative setting there is also real potential here for groundbreaking research to the benefit of humanity.”

Mr Kenny also visited Hewlett Packard Ireland for the announcement of 200 construction jobs on its new 89,000sq ft office building in Ballybrit, Galway.

The office will be dedicated to software research and development, cloud technology and business services with capacity for up to 700 staff, and is expected to be one of the largest construction jobs for several years in Galway.