Posts Tagged ‘ICT’

Ireland is punching above it’s weight

Monday, December 7th, 2009
Irish R&D competing and contributing globally

Irish R&D competing and contributing globally

Ireland is punching above it’s weight as its continues to gather more than its share of foreign direct investment in Research and Development. FDI for R&D for the majority of countries worldwide is down by 30% yet Ireland continues to attract major R&D funding from global investors. As previously stated in this blog, as disparate technologies such as medical devices, ICT, biopharma and pharma converge, commercial opportunities continue to expand and Ireland has positioned itself excellently to take advantage.

Nanotechnology is one field that because of significant recent developments within life sciences technologies is expected to grow in business opportunities worldwide to a figure of  just over $3 Trillion from a figure of just under $150 Billion by 2015.

As things stand currently, Ireland is competing strongly against significant international established players such as Israel, Singapore, Germany and the US and yet we continue to gain a considerable portion of international funding available for investment.

 

Last year alone 80% of all Irish exports were life science or IT related. Of this Multinationals contributed to 73% of  R&D  spent in the country with €19 Billion of this expenditure  spent directly in the Irish economy.

Impressive figues and statistics by any interpretation and a clear indicator that Ireland continues to attract high value projects and opportunities for high skill, high value jobs. Given the current economic climatic conditions we are experiencing this is very good news indeed-long may it continue.

Nanodevice Medical Devices Big News in Ireland

Monday, November 30th, 2009
NanoDevice Micromesh

NanoDevice Micromesh

Nanodevice Medical Devices Make Big News in Ireland. As previously mentioned on this blog, Medical devices continue to be a major center of growth and activity both in R&D and job creation for the Irish economy. But allied to this power house another developing science is begining to make itself felt. Nanoscience is rapidly converging and combining with the BioPharma and Medical device sectors which were once seen as distinct and completely sepperate branches of science and are now adding incredible synergies. Medical devices and biopharma products are now being enhanced and expanded far beyond their existing or previously envisioned applications into new and advanced medical or clinical applications. They have also opened up completly new research vistas undreamt of less than five years ago.

Nanoscience adds a different dimension or perhaps microdimension to products such as medical devices that allows them to operate at the subatomic level. For instance, as we see with most medical devices at present they operate as simple tools treating the symptoms of ailments whereas we are already witnessing the application of nanoscience to medical devices that will very soon  actually allow them to actively cure an illness.

Specifically we can envisage the usage of nano robots that can heal tears in arteries unreachable by contemporary surgery techniques. Additionally early research is already being undertaken with the development of gold plated nano drugs capable of functioning as effectively as a smart bio weapon, guided precisely and unerringly to the point of infection such as cancerous tumours doing away with debilitating chemo or radiation therapy.

Added together, medical devices, ICT and Biopharma employ over 130,000 people emphasising their importance to the nation as a significant economic driver. Given the global market for nanoscience products is over €3 Trillion Dollars, or to localise this figure, last year Ireland exported over €150 Billion in goods and services, of this 10% were nanoscience enabled or related products  or €15 Billion. By 2015 this figure could be as much as €30 Billion.

Small wonder then that as this sector continues to grow in importance, it will continue to be a beacon of hope in a time of unprecedented economic gloom.