What Ireland needs to compete in a global innovation economy

Ireland’s innovation success is built on more than tech - it's about equipping people with the skills to thrive in tomorrow’s economy, argues Stefan Dobrev, Chair of EIT Governing Board, in this new article for the Irish Independent.

As a small, open economy, Ireland has long understood the benefits of being part of a large, dynamic ecosystem. The Celtic Tiger's success was built on the nation’s ability to connect the talents of its citizens to global demand, attracting jobs and investment.

To enhance competitiveness, this connectivity needs to extend to innovation. In its latest report, the National Competitiveness and Productivity Council highlights the potential of the European Single Market to enhance growth and scaling for Irish firms. The challenges of building and retaining a skilled labour force; and the opportunities afforded by technological change and innovation.

Bridging gaps through innovation

Realising this potential and addressing these challenges relies on close collaboration between entrepreneurs, industry and academia within Ireland – but more importantly, across Europe and beyond. Such collaboration is not easy, there are gaps in business culture, risk appetite, priorities and information, but we must overcome them.

The European Institute of Innovation and Technology, through its nine thematic Knowledge and Innovation Communities, mobilises public and private resources to bridge such gaps. Galway-based Luminate Medical accessed a global network of mentors and prospective users across Europe and the United States to fine-tune its quality-of-care-enhancing device and attract investors and customers. Dublin-based Wellola created a patient-facing digital platform and partnered with Fisiolink in Italy to jointly offer a complete cloud-based medical solution.

Skills for a shared future

On a larger scale, Trinity College Dublin and the University of Galway are training workforces across Europe in medtech, pharma and digital health as part of EIT Health’s Pact for Skills. Generation Ireland, as one of 12 Irish members of the EIT Deep Tech Talent Initiative, is helping a million people build skills in cloud services, cybersecurity and data engineering.

Twenty-first-century innovation is so complex that no country or organisation can succeed alone in developing the required range of knowledge and skills and scale them to market. Yet, by collaborating, we can turn innovation into a true driver of competitiveness.