Insight SFI Research Centre worth over €1bn to economy
Insight, the Science Foundation Ireland (SFI) Research Centre for Data Analytics, is celebrating its tenth year with the release of an economic report.
The report put Insight’s value to the Irish economy at €1.1 billion, building on ten years of public investment of €80 million, supported through SFI.
Hosted across Dublin City University, University College Cork, University College Dublin and University of Galway, the centre specialises in research in data analytics and artificial intelligence (AI), including sensors, data engineering and governance, human computer interaction, smart cities, climate AI and digital health.
The report outlines Insight’s economy-wide impact, estimated at 5.54 times that of Insight’s own direct economic activity, with a total economic impact of €1.108 billion.
Its annual funding tripled from just under €8 million in 2013 to €24.2 million in 2022.
With over 400 researchers actively involved in the Centre, Insight has produced 1,087 research alumni over the last ten years. It also partners with Maynooth University, Trinity College Dublin, Tyndall National Institute and University of Limerick.
It has directly funded 238 graduated Masters/PhD students and is currently supporting 141 PhD/Masters students.
Prof Phillip Nolan, director general of SFI, said: “The Insight SFI Research Centre has a strong track record of generating high quality research and supporting world-class talent. Alongside its work in education and public engagement to promote digital wellbeing, the Centre has trained the next generation of data scientists and attracted over €100 million in additional investment from industry and EU sources, further highlighting the value of publicly funded research to the Irish taxpayer.”
“In 2013, Insight was established as a national research endeavour, co-led by multiple HEIs, at a scale of undertaking never before attempted in Ireland,” said Prof Noel O’Connor, CEO of the Insight SFI Research Centre. “As these figures demonstrate, this has proven a resounding success for Irish research, the economy and most importantly the taxpayer. This is thanks to the collaborative ethos and the collective vision of our excellent scientists; ably supported by a shared national research management infrastructure. It demonstrates that a small nation like ours can punch above our weight by committing to the maxim that we are better together.”
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