Competitiveness of the ecosystem
Ireland has become a medtech success story with FDI multinationals and start-ups developing innovative medical technologies while adding investment and creating jobs across the country.
The Irish business model is underpinned by six key characteristics making it a model of substance, namely: the evolution of our economic policies; global footprint serving global markets and attracting FDI investment; full business life cycle; world class globally competitive economy; global hub with the world’s top companies having a base here; and clusters with diversity in the economy. As we plan for the future in the face of global change, smaller countries like Ireland must seek to ensure the global economy retains the open policies that benefit so many, of particular importance are the incentives to support innovation.
We will support Irish medtech to adapt to the evolving global business environment and support improved incentives locally.
To achieve this we will:
- Benchmark Ireland’s current personal tax, tax credits and other incentives and state aid, and collate recommendations on how best to enhance Ireland’s value proposition.
- Monitor the evolving Global Tax Reform agenda and foster open discussions on its implications for current and future Irish business operations to minimise any adverse effects.
We will develop Irish Medtech Association’s sustainability and environmental agenda and understand its impacts on industry practices to better develop longterm value for the sector.
To achieve this we will:
- Support the industry to meet new sustainability, and environmental requirements, and create the necessary competitive advantage to attract investment and talent and build a differentiated customer offering.
- Develop a cross industry strategy for how medtech can unlock the value from Ireland’s future renewable energy supplies.
We will support and lobby for the development of physical and digital infrastructure at both national and industry level, to enable innovation and competitiveness in the future.
To achieve this we will:
- Seek and lobby for private and public investment in innovation through incubators, academies, science parks, technology clusters to foster innovation from early stages.
- Support and lobby for development of national infrastructure that enables connectivity to enable businesses to compete internationally.
- Enhance Ireland’s existing expertise, resource and investment in cybersecurity and establish Ireland as a best-in-class ecosystem that protects data and enables the ethical use of data.