2014 Launch: National Health Innovation Hub for Medical Breakthroughs

National Health Innovation Hub to Support New Companies

A national health innovation hub with the potential to support hundreds of new companies will be established in 2014, the Government has announced in publishing the 10th Action Plan for Jobs Quarterly Progress Report.

Access to the Health System for Irish Healthcare Innovators

It said the new National Health Innovation Hub would be “a win-win for businesses, the health system – and most importantly, for job creation.”

In essence, it means that innovative Irish healthcare companies will, for the first time, be able to quickly gain access to the health system to test their products and services, increasing the chances of developing commercial ideas and creating jobs.

The hub will aim to support Irish businesses in the pharmaceutical, medical devices, and ICT sectors – which together account for over €140bn in annual exports.

Q2 2014 Progress Report Highlights

The Action Plan for Jobs progress report shows that 123 out of 144 measures earmarked for completion during Q2 2014 have been implemented.

Among the other Q2 measures delivered is the launch of a national trading online scheme and new measures to make it easier for SMEs to access procurement opportunities.

Streamlining Enterprise Supports and Promoting Entrepreneurship

In addition, 35 City and County Enterprise Boards were legally dissolved, and 31 Local Enterprise Offices were to provide first-stop shop-for-enterprise supports in every county.

Applications also opened applications for the €2m X-Factor style county-based competition to find Ireland’s Best Young Entrepreneur as part of a drive to encourage more people to start their businesses.

What Exactly Are National Innovation Hubs?

A National Health Innovation Hub is an initiative typically established by a government, often in partnership with private sector companies, academia, and healthcare providers. Its primary goal is to foster innovation in the health sector. These hubs act as an intersection point where various stakeholders – researchers, clinicians, entrepreneurs, and policymakers – come together to develop, test, and implement innovative solutions to health-related problems.

The specific functions and goals of a National Health Innovation Hub can vary, but they often include things like:

  1. Promoting and supporting research and development in healthcare.
  2. Facilitating collaboration between various stakeholders in the health sector.
  3. Providing resources and support for health startups and entrepreneurs.
  4. Implementing and disseminating innovative health technologies and practices.
  5. Influencing health policy to support innovation.

Please note that such hubs’ names, structures, and functions may vary by country.