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Taoiseach Enda Kenny welcoming US$16M collaboration between Mayo Clinic and Enterprise Ireland

A collaboration between Enterprise Ireland and Mayo Clinic, USA will see the commercialisation of up to 20 novel medical technologies in Ireland over the next 5 years with the aim of creating several high value medical technology spin-out companies.

Welcoming the announcement the Taoiseach said:

Ireland is delighted to support the work of Mayo Clinic to develop medical technologies that will benefit patients worldwide and this project fits well with the medical technology strategy supported by the Government’s Action Plan for Jobs. There is great potential for job creation in 10 ‘spin-out’ companies Enterprise Ireland aims to create from this collaboration.

The Irish Government will provide up to €11.7M through Enterprise Ireland’s Commercialisation Fund for the co-development and licensing of novel medical technologies developed at Mayo Clinic U.S. into Ireland where they will be commercialised.

Jeff Bolton, VP Mayo Clinic said:

This collaboration with Enterprise Ireland provides a unique way of furthering the research and development of novel technologies that have high potential to make a difference in patient care, alleviating the burdens of human disease. We expect that this collaboration will pay dividends in the United States as the commercialized technologies will be sold in the US for the benefit of patients.