An Tanaiste and Minister for Business, Enterprise & Innovation Frances Fitzgerald, today announced the launch of the BioExel Accelerator at NUI Galway.
Supported by Enterprise Ireland, the centre will further enhance the medical technology sector start-up ecosystem within Ireland and attract global talent to the Galway region.
Partnership sponsors for the accelerator include the Western Development Commission, the Galway University Foundation and the Bank of Ireland Seed and Early Stage Equity Fund.
The programme is open to applications from teams or individuals both in Ireland or overseas, working in the medtech sector. There are up to 14 slots available within the Enterprise Ireland supported Accelerator Programme over two cohorts with the first to commence later this year.
Successful applicants will receive membership and a place within NUI Galway for six months, where teams will be able to build and validate their technologies by working with existing entrepreneurial networks and mentors.
The programme is part of Enterprise Ireland’s strategy to increase the number and quality of start-ups that have the potential to employ more than 10 people and achieve €1 million in export sales within three years.
Announcing the launch of BioExel, An Tanaiste Frances Fitzgerald said: “Ireland is recognised as a key hub for medical technology and innovation and the launch of this new accelerator is an opportunity to further build on our strong international reputation for excellence and innovation in healthcare and medtech.
“The Accelerator programme located at NUI Galway and supported by my department through Enterprise Ireland will further enhance the High Potential Start-up (HPSU) ecosystem and develop start-up capability, infrastructure and capital investment within the Galway region.”
“The vision here is to create innovative medical technologies which are affordable and transformative for patients with both acute and chronic conditions,” said Prof Lokesh Joshi, Vice-President for Research at NUI Galway. “The BioExel Accelerator will bring us closer to this patient-focused vision, while also stimulating innovation and job creation though high-potential start-ups.”
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