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Galway 'Startup Island 2020' Forum Keynote - Professor Abhay Pandit CURAM Research Centre - Startup Gathering 2015

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Professor Abhay Pandit Galway Startup Island 2020 Forum - Opportunities for Galway to become a startup hub in the medical devices sector

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Galway 'Startup Island 2020' Forum Keynote - Professor Abhay Pandit CURAM Research Centre - Startup Gathering 2015

  1. 1. www.curamdevices.ie Opportunities for Galway to become a startup hub in the medical devices sector Abhay Pandit 9th October, 2015 Startup Island 2020 Forum
  2. 2. 11% of the world’s 6.9bn people are over 60 22% of the world’s 9bn people are over 60 The World’s Ageing Population In 2050 one person in three will be over 65 and one person in ten will be over 80 2012 2050
  3. 3. MUSCULOSKELETAL DISEASES HEART DISEASE DIABETES Global Burden of Chronic Illness DIABETES 2013 220 million diabetes sufferers worldwide 2050 480 million sufferers worldwide
  4. 4. Global Burden of Chronic Illness
  5. 5. Total US spend on Chronic Disease $1.875 trillion $3 out of every $4 of US healthcare spending is on Chronic Disease Rocketing Health Costs
  6. 6. Rocketing Health Costs U.S. National Health Expenditure as a Share of GDP, 1960-2021
  7. 7. Transformative Technologies Radical Innovation Partnership with Industry and Regulators How will we rise to these challenges? Affordable Solutions The Vision
  8. 8. Galway Munich Boston Minneapolis San Francisco Source: IDA Global Medical Device Hubs Singapore Israel
  9. 9. Medical Device Infrastructure University, IOT PRTLI Funding EU Funding SFI Centre Where are we now? • €7.2 billion in exports • 9% of Irish exports 8/10 top companies • 25,000 jobs • 250 Med Tech companies half of which are indigenous Clinical Research Facility Start Ups Stem Cell Manufacturing Industry Clusters & Venture Capital Hospital Innovation Hub
  10. 10. Our Track recordProven Track Record
  11. 11. 35+ Industry Partners 41 Academic Researchers 7 Clinicians 5 Universities 62 Postgraduate Students 63 Postdoctoral Researchers and Research Assistants 13 Technical/Managerial Staff
  12. 12. Right Time Right Place
  13. 13. Vision 2020 for Galway
  14. 14. Talent Infra-structureFunding Business Development CÚRAM - Engine for Growth in MedTech
  15. 15. Mentors Angels Enterprise Ireland Venture Capitalists Peer Network Legal IP / Accounting Market validation as a sustainable business Corporate Success Exit: M&A / IPO Successful business look to reinvest in the system Money, experience, connections enrich the ideation pool Failure. Many businesses do not make it, and will pivot back into the mix Recycle: Experiencs Talent Ideas 20 start up ideas get seed funding each year Only 10% of funded ideas make it to growth stage The innovation pool is rich with startup nutrients Incubators Corporate labs Entrepreneurs Experienced International Optimistic CURAM Platform Research Accelerators Galway Vision – Emerging Ecosystem

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