CÚRAM, the Science Foundation Ireland (SFI) research centre for medical devices based at the University of Galway, has unveiled an economic report that puts its value to the Irish economy at €756m, building on 10 years of public investment.
Economic impact analysis carried out by Mazars shows that investment in CÚRAM, to the end of 2023, has led to direct spending of €210m in the Irish economy and the generation of a further €546m in economic activity in Ireland – putting its economic value at €756m and a more than 10-fold return on government funding.
CÚRAM has helped to expand Ireland’s attractiveness as a global hub for the medtech sector – one of only a handful of locations in the world – by establishing partnerships and by fully funding or co-funding collaborative projects with 47 innovative companies in the sector.
Supported a total of 2,547 jobs
Investment in CÚRAM has also supported a total of 2,547 jobs in the Irish economy.
In addition, more than €80m of EU grant funding has been committed to research projects at CÚRAM.
L-R: CÚRAM director, Professor Abhay Pandit; Dr Siobhan Roche, director of science for the economy at Science Foundation Ireland; and University of Galway president Professor Ciarán Ó hÓgartaigh. Image: Martina Regan.
Higher education minister Patrick O’Donovan said: “I congratulate CÚRAM for its significant impact on the Irish economy and society. This report demonstrates the importance of the government’s policy of continuing to invest in research and innovation and supporting excellence and scale through the world-leading SFI Research Centre Network, in areas of strategic national importance.
"CÚRAM provides innovative solutions for industry and society, which enable better quality of life for patients. As our population ages, this is helping us to create a better tomorrow for all citizens.”
'Building collaborations and networks'
Professor Ciarán Ó hÓgartaigh, president of University of Galway, said: “I would like to congratulate CÚRAM as they mark ten impactful years of research. The centre epitomises what it means to be for the public good. The real value of CÚRAM remains its people and its key strength lies in building collaborations and networks that generate impactful research.”
Dr Siobhan Roche, director of science for the economy at Science Foundation Ireland, joined in the celebration of the centre’s success, said: “CÚRAM has a strong track record of generating high quality research and training the next generation of medical device researchers.
"The centre’s deep commitment to education and public engagement is not only inspiring younger generations to pursue a career in STEM but is also promoting new approaches in the management of chronic illness. Amplifying its impact, CÚRAM has attracted over €225.7m in additional investment from industry and EU sources, further highlighting the value of publicly funded research to the Irish taxpayer.”
CÚRAM director, Professor Abhay Pandit, said: “Addressing chronic disease to support healthy ageing is one of the most pressing public health and economic challenges of our time. Our research programme is developing solutions to help us all live well as we age, with conditions like cardiovascular disease, diabetes and neurological disorders.”
CÚRAM has a further three years of operation left in its current government funding period to build even further on its impact. By connecting the patient voice with the combined expertise and technologies of Ireland’s leading scientists, clinicians and engineers from 10 universities, alongside international industry partners, the centre ensures that its research is shaped and guided by the invaluable perspectives of people with lived experience of chronic illness.
Dr Eoghan Ó Faoláin, director of Irish MedTech: “Ireland is one of the top employers of medtech professionals in Europe and it is in no small part due to our rich talent pool of third level graduates and dynamic supports for upskilling.
"By fostering collaboration between higher education and medtech industry, CÚRAM’s training programmes equip the workforce with the skills most in demand now and into the future. These programmes are an incredibly valuable component of Ireland’s drive to develop the diverse and best in class talent needed to support the future success and competitiveness of the global medtech hub in Ireland.”
Key stats
- More than 1,000 researchers have worked in CÚRAM SFI Research laboratories. A total of 303 researchers, collaborators and research support staff now work in CÚRAM;
- CÚRAM has funded 87 academic leads across 11 partner institutes;
- CÚRAM has a gender balance of 52.5% male, 47.5% female across all staff, who come from 70 countries. Of the 1169 staff that have come through CÚRAM, 47% are Irish and 53% non-Irish;
- The centre has generated more than 1,357 original data publications, 397 review articles and 256 refereed conference publications that have contributed to the advancement of knowledge in medical devices;
- The centre has seen numerous scientific breakthroughs that contribute a significant advance in knowledge for treating clinical needs. Examples include mapping the spatiotemporal expression of the human glycome in PD and intervertebral discs, developing a hydrogel for hard to heal wounds and breakthrough delivery of therapeutics for respiratory disease;
- CÚRAM has collaborated with more than 47 companies, from project-based engagements to multi-year, multi-site research programmes;
- CÚRAM has created an award-winning public engagement programme that has built relationships with local and national communities and reached audiences of more than two million people through film, art public exhibits;
- More than 400 teachers have taken part in CÚRAM’s Teachers in Residence programme that supports both primary and secondary school teachers in science education. The initiative is designed to bridge the gap between scientific research and the classroom to foster science education.
CÚRAM was established in 2015 with an initial commitment of government investment of €64.8m through Science Foundation Ireland.