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Limerick is looking at options for life science incubators to encourage start-ups

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Limerick City and County Council plans to establish a Life Sciences Innovation Center to provide laboratory space and other facilities to support start-ups in the Midwest.

The City Council has issued a call for tenders for a feasibility study to evaluate potential sites and made a set of recommendations to develop the concept for the Limerick area.

The idea is to create a successful biopharma project in the city of Limerick along the lines of Kinetic Labs in Waterford and The Campus at Cherrywood in Dublin, according to a tender document published earlier this month.

The facility would complement the existing regional research and development infrastructure already in place via SSPC, PMTC, Shannon ABC and the University of Limerick’s Health Research Institute, as well as the many large multinational companies in the Midwest.

According to the Council document, the incubator would help fill a gap in the Limerick area’s science start-up ecosystem by providing a bespoke space where small early-stage companies could gain access to “prohibitively expensive” specialist equipment and laboratory space to accelerate their growth .

“Entrepreneurs and early-stage life science researchers can use the facility to explore their ideas, test them and grow their business,” the document says.

“As part of its regular operations, the center will run regular accelerator and venture development programs for cohorts of life science start-ups, coaching them in entrepreneurial and scientific excellence, advising them on likely avenues to invest and providing an environment for peer learning create .”

The project has a tight schedule, with calls for tender due in the first week of September.

Successful applicants are expected to submit an interim report by November 18 for inclusion in an application for a Regional Enterprise Innovation Scoping Scheme grant.

The entire project is expected to last four months and have a budget of up to €42,000.

The life sciences sector in Ireland supports 50,000 jobs nationwide and produces €45 billion in annual exports for the economy. The industry has grown rapidly in recent years with large equity investments from companies such as Regeneron, Cook Medical, Boston Scientific and Abbott.

Earlier this year, Eli Lilly announced it would invest €400 million in a new manufacturing facility in Limerick that would create 300 jobs.

https://www.independent.ie/business/irish/limerick-seeks-options-for-life-science-incubator-to-boost-start-ups-41926995.html Limerick is looking at options for life science incubators to encourage start-ups

Fry Electronics Team

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