The life sciences sector is booming in Ireland. It involves solvent companies that offer competitive salaries and have well defined goals. For this reason, they attract and retain talent.
The medical device eco-system in Ireland is the best such system in an English speaking area within the favourable European regulatory regime. So, there is no better place in the world today for Life Science start-ups. Why locate a life science start-up in Ireland? Because the world’s top 10 pharmaceutical companies, 24 out of 25 of the world’s top biopharma companies and 18 of the world’s top MedTech companies have a presence in Ireland.
Large technology companies such as Google and Apple have taken the step of entering healthcare and life sciences. This is evidence of the trend towards values-based healthcare and a shift in research towards single treatments rather than chronic treatments.
On the other hand, NIBERT and Tyndall are government-funded research institutes, a vital component of the industry’s success and part of the reason why Ireland is “punching above its weight” according to Tim Cotter, life sciences leader for Grant Thornton’s business consulting team.
“We have clusters developed not just in the main centres of Dublin, Galway and Cork but emerging in the north-west and in Limerick now too,” he says.
Reasons to start your life science start-up in Ireland
- The first and main one is the low corporation tax: 12.5%.
- You could have young, highly educated and highly skilled workforce.
- Ireland’s location is considered one of the best in Europe, as it is the gateway to the Middle East and America.
- The prestige of having headquarters in Ireland, as well as large companies such as Google, Facebook or Apple.
10 interesting Irish life sciences start-ups
- ATXA Therapeutics
- AuriGen Medical
- Genomics Medicine Ireland
- Kite Medical
- Loci Orthopaedics
- Metabolomic Diagnostics
In conclusion, if you as an entrepreneur, are in the process of expansion and you are currently doing a market study, Ireland is a good destination.
In ISEA we can help you resolve any questions or concerns about starting your business in Ireland. Contact us and we will be happy to help you.