Research commercialisation hubs receive €64m from government and EU
Minister for Further and Higher Education, Research, Innovation and Science, James Lawless today announced a multi-annual ‘Accelerating Research to Commercialisation’ (ARC) Hub investment programme to fast-track the commercial potential of scientific research across Ireland.
The new programme establishes two new Research Ireland ARC Hubs – the ARC Hub for Therapeutics and the ARC Hub for ICT. With funding from the European Regional Development Fund (ERDF) and the Government of Ireland, the two hubs have been awarded a combined budget of €63.84 million.
Speaking at the announcement, Minister Lawless said: “The Research Ireland ARC Hubs for Therapeutics and ICT represent a new model for regional innovation and entrepreneurial training that will catalyse a step-change in the translation of cutting-edge, publicly-funded research towards impact at a regional level. The ARC Hubs will enhance and accelerate the commercialisation of research to create new products, processes and services.”
Led by Prof Vincent Kelly of Trinity College Dublin, in collaboration with University College Dublin, RCSI University of Medicine and Health Sciences, and involving investigators from research bodies throughout Ireland, the ARC Hub for Therapeutics will accelerate translational research in the fields of small molecule therapies, biological therapies, biomaterials, biomarkers with therapeutic potential and in advanced therapy medicinal products.
The ARC Hub for ICT under the leadership of Prof Sarah Jane Delany of TU Dublin will accelerate translational research in ICT and AI to commercialisation, aiming to drive digital transformation across healthcare, education, infrastructure, sustainability, and data management
Research Ireland Interim CEO Celine Fitzgerald said: “The Research Ireland ARC Hub Programme is a gamechanger in terms of driving regional development through commercialisation of research. The two ARC Hubs unveiled today – Therapeutics and ICT respectively – will create regional entrepreneurial ecosystems in two critically important sectors for the Irish economy. Accelerating the overall journey to impact will be achieved by enabling researchers with novel ideas to become future entrepreneurs, with the Hubs providing an integrated approach to research funding, entrepreneurial training and access to networks and supports.”
The ARC Hubs are co-funded by the government and the European Union through the Southern, Eastern and Midland Regional Programme 2021-2027, one of two ERDF programmes in Ireland. The ERDF aims to promote economic, social and territorial cohesion across all European regions.
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