The U.S. healthcare industry, while expanding rapidly, is also saddled with challenges including spiraling patient care costs, growing R&D expenditure, the ongoing struggle of finding well-trained workers and – the bane of the massive healthcare IT sector – the increasing demand for privacy given all the information now being gathered electronically. Underpinning this situation is the expanding role that technology is playing in improving patient outcomes and overall efficiency, which means rapid demand for not just innovative solutions but the tech-savvy personnel needed to create and operate them.
The mission of IDA Ireland has been constant, since its foundation by the government of the day in 1949—to promote the growth and development of industry in Ireland. In the early years of the Irish Republic, the economy was inward-looking, with high tariffs on imported goods, a strategic focus on indigenous industry and limited export trade.
What’s happening in Sligo right now proves that it’s possible to achieve work-life balance without compromising on a career. That’s what more than 320 people discovered on the journey there by train from Connolly Station Dublin to a careers fair dubbed ‘Tech on the Wild Atlantic Way’.
ILC Dover, a global leader in flexible containment solutions for the pharmaceutical and biopharmaceutical industry today announced it is expanding its Irish production footprint by opening a location in Blarney, County Cork, Ireland creating up to 70 jobs over two years.
Biotechnology company Regeneron had two reasons to be cheerful after the inaugural Invest in Ireland Awards in October. The company came away with the Grand Prix and also won the ‘Excellence in Regional Investment’ category. The recognition follows five years of expansion in Ireland since the company first announced its presence here in 2013.
The impending exit of the UK from the European Union has set off deep ripples that are being felt in many directions. With less than 6 months to go until Brexit; it’s looking like it could mean potential disruption for US Tech companies doing business in the EU in 2019. Despite the current Brexit anxiety and changing political situation, US firms still need to craft a game plan for whatever the relationship between the EU and UK will look like in 2019 and beyond. With that in mind, here are some key issues to consider for U.S. companies that are worried about their European business in 2019.
The 29th of March next year is a critical date for U.S. biotech companies because business as usual disappears in Europe as a result of Brexit. Long a favored location for manufacturing and selling pharmaceuticals and devices across Europe, the United Kingdom will no longer be part of the EU and so free trade across Europe will change. American firms with UK operations should have already devised a post-Brexit strategy and begun implementing it given the fact that the changeover is just a few months away.
The Invest in Ireland Awards took place last week at a gala ceremony in the Mansion House in Dublin. The inaugural event honoured some of the most prominent names in Ireland’s foreign direct investment sector.
Ireland can become a haven for remote networking, attracting high-value labour to all parts of the country while easing demand on high-cost housing and rents in major cities. That was the call from the inaugural Grow Remote conference for remote and smart working, which was held in Tralee last week.
For more than half a century, Ireland has successfully attracted foreign direct investment projects that have made a significant contribution to our economic development. By themselves, multinationals contribute 66 per cent of national exports. But the story is so much richer than that.
Think for a moment what might have happened if Ireland had chosen a different industrial policy in 1958. That instead of opening up to the world, attracting foreign direct investment (FDI) and placing strategic bets on international trade, we continued with the status quo. We know from history what the counter-factual looks like: Ireland was a country that was inward looking, protectionist, and poor.
The global investment climate is in flux right now with investors looking to locate in jurisdictions that can offer them stability across the policy and regulatory and talent worlds.
A dairy cow lumbering through a field seems to be the antithesis of high technology but sensors, AI, analytics, connectivity and the other elements of the Internet of Things are beginning to have a significant impact on milk production, which is none too soon. With a world population that will reach 9.7 billion by 2050 -- that's more than two billion additional humans than exist today -- global food production system will be increasingly under siege from forces like urbanization, climate change, less arable land and the ongoing difficulty of finding workers in the United States in this low-paying field.
Technical recruiters are living out the famous Charles Dickens line, "It was the best of times, it was the worst of times." The United States is now nine years into the second-longest economic upswing in history and business is booming but at the same time, finding qualified tech workers has become a virtual Mount Everest achievement, leading to poaching wars, relentless job-hopping, unfilled positions and angst in executive suites. This is coupled by a mounting challenge, the H1-B lottery and slow green card processing are all discouraging candidates. A recent survey of over 3,000 technology leaders by KPMG revealed that 65 percent believe hiring challenges are hurting their business, up from 59 percent who thought so in the previous year's survey.
Ireland is playing India in two T20 cricket internationals in Dublin this week; the first match takes place to-day (27 June) and the second on Friday (29 June), in Malahide.
Interest in artificial intelligence is at ‘fever pitch’, according to the technology market research company IDC. If measured in money, the heat will reach almost 20 billion this year – that’s the dollar amount IDC forecasts that companies will spend on AI and cognitive computing. But in fact, the temperature around these technologies has been rising for some time.
While the American medtech industry is thriving, it still must deal with challenges that include higher production costs, finding skilled staff and the ongoing issues innate to a highly regulated sector. Then there are global concerns such as competition, funding and the high cost of research. With Europe and the United States being the key markets, many U.S. medtech firms have located some of their operations in Ireland in order to take advantage of an established, flourishing life sciences sector, strong governmental support and easy access to the lucrative European market.
With an expected two billion more mouths to feed on the planet by 2050, it's no surprise that the Agtech industry is looking at new approaches today to achieve this goal, searching for lower-cost technology that will deliver higher yields with less environmental impact. American Agtech companies are under increased pressure as the United States recently slipped from first to fourth place in the rankings of most "food-secure" nations worldwide, according to the Economist Intelligence Unit.
If there’s one word that captures the aims of ambitious high-tech companies, it’s scale. It’s about hitting big numbers – whether that’s customers, ARR or valuation – fast. Scale is embedded into the DNA of founders and the VCs backing them with the financial firepower to reach their ambitious goals.
When Keeper Security set up its first European operations in late December, it chose Cork as its location – but its decision wasn’t out of the ordinary. The password management company joined a growing roster of cybersecurity companies operating in the greater Cork area, including AlienVault, Cylance, eSentire, FireEye, Malwarebytes, McAfee, Sophos, Trend Micro and Trustev/TransUnion. You could say that Ireland’s second city is a hidden gem for cybersecurity.
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