A new initiative from Research Ireland will help to fast track the commercialisation of early stage, cutting-edge health technology research. The Accelerating Research to Commercialisation (ARC) Hub for HealthTech is a collaborative project, which will provide funding, advice and guidance to academic projects in the medtech and connected health sectors to support their translation into products with real world benefits for patients.
This is the third hub to be announced, with the ARC Hub for Therapeutics and the ARC Hub for ICT launched in February.
The new ARC Hub is being established in the northern and western region by Research Ireland, with funding of €34.3 million from the Irish Government and the European Union through the European Regional Development Fund (ERDF) Northern and Western Regional Programme 2021-2027.
The project is being led by University of Galway in partnership with Atlantic Technological University (ATU), and RCSI University of Medicine and Health Sciences.
RM Block
According to Research Ireland head of Enterprise Partnerships Dr Aisling McEvoy, the new hub is focused on accelerating translational research in chronic disease management, primarily in five areas. These are decision support and intervention planning; smart implants; advanced wearables; novel sensors; and algorithms and artificial intelligence and machine learning models.
“The ARC Hub for HealthTech will support the translation of cutting-edge research into real-world applications and equip innovators with the knowledge and entrepreneurial skills needed to bring transformative healthcare technologies to market,” she said.
The hub will leverage the strengths of the regions’ existing research base and thriving medtech sector. “It will build on 20 years of investment in research by Science Foundation Ireland and the Irish Research Council,” said McEvoy. Significant commercial potential exists in that research base and the Hubs are designed to unlock it, she added.
Led by Prof Garry Duffy, of the University of Galway, the operations team for the Hub brings together a group of experts in medtech, connected health translational research and in entrepreneurship. “The team has deep expertise in academic research and commercialisation and many of its members have experience of spinning out their own companies,” said McEvoy.
The hub will deliver a range of support to researchers to help guide their projects to successful commercial outcomes. A key aspect of that support is a comprehensive innovation and entrepreneurial training platform to help the researchers develop commercial acumen and enhance prospects for success throughout the product development life cycle.
“Entrepreneurship is not really on the career radar for researchers at present,” McEvoy said. “The hubs provide an environment that encourages researchers to consider innovation and entrepreneurship as a career. The operations team in the hubs will help the researchers find out if there is a market and demand for their innovations.
“The earlier the intervention the better the product will be. The operations team will guide the innovations efficiently along the pathway to commercialisation. They will ensure the projects are best set up for success from the earliest stage of the R & D journey.”
Twenty-three research projects have been selected for funding and support by the new hub. However, McEvoy pointed out that there is budget available to support additional novel research opportunities that can be accelerated towards commercial impact.
“We are encouraging researchers who think they might have a suitable project to get in touch with Research Ireland or the ARC Hub team. It is also important to note that funding for projects is not limited to the three hubs. There are opportunities for all academic researchers in Ireland to get funding.”
It is intended that the three ARC Hubs will form an ecosystem, with shared learning and resources among the key benefits.
McEvoy said: “A lot of what the three hubs are doing is complementary. We could have instances where a project starts life in the Therapeutics Hub and then takes an ICT turn and benefits from some funding and support from that Hub.
“The potential synergies between therapeutics, ICT and health tech are very exciting.”
The projects may also go on to secure funding from Enterprise Ireland through its commercialisation fund or other support instruments, she noted. “We have been working very closely with Enterprise Ireland on the establishment of the hubs. We have also been collaborating with the technology transfer offices in the universities as well as with industry and venture capital sector.”
Ultimately, the aim of the new ARC Hub for HealthTech is to deliver new health solutions to patients and provide an economic boost to the western and northern regions by generating opportunities, anchoring regional companies, and retaining skilled jobs.
For more information, visit researchireland.ie
