10th November 2022
Guiding the development of a new life science innovation cluster
Feasibility study to support the growth of a life science sector in Limerick City.
Ireland is globally recognised for its pioneering innovation in bio-pharmaceuticals, pharmaceutical manufacture, and supply. The country’s life sciences sector currently exports more than 45 billion Euros annually.
An identified advantage in the regional life sciences/biopharma ecosystem would be the establishment of a tailored life sciences incubator for start-ups and small businesses in the region.
The Mid-West Regional Enterprise Plan, through Limerick City and County Council, has commissioned Urban Foresight to conduct a feasibility study for a Life Science Innovation Hub in Limerick City.
The hub would enable companies to accelerate their science, develop their business, and create a lasting impact.
The feasibility study will underline the critical components required to create a supportive life science hub in the region, utilising Urban Foresight’s expert understanding of the needs of life science business growth and innovation clusters.
“We are excited to be working with Limerick City and County Council on this strategically important project for the Mid-West and Irish Life Science sector,” said Dr Graham Thrower, Head of Sustainable Economy at Urban Foresight.
“It builds on our previous work developing regional life science ecosystems to create environments which foster innovation and create more high-value businesses. We believe this will play a critical role in developing new solutions for global health challenges,” he added.
Director of Economic Development at Limerick City and County Council, Vincent Murray said the council looked forward to working with Urban Foresight, and engaging with regional stakeholders on this exciting project for the Mid-West. “The Mid-West region has seen a rapid expansion in the Life Science sector in recent years, with significant capital investment and major jobs announcements by large international firms and indigenous SMEs. We look forward to supporting continued growth in the sector in the coming years.”
The feasibility study has been funded by the Department of Enterprise, Trade and Employment’s Regional Enterprise Innovation Scoping Scheme administered by Enterprise Ireland.
The project will benefit from Urban Foresight’s expertise in innovation hubs and emerging technologies and joins a number of other projects recently completed by the company in this space, such as; a proof of concept for a Life Science and Manufacturing Innovation Zone in the North East of England: innovation assets and trends mapping exercise for Healthcare and Life Sciences as part of the ERDF-funded DFIB programme; and an Economic Impact Assessment for the UK’s National Healthcare Photonics Centre.