#CancerHasNoBorders Event at MIT
- Seán Carter
- 2 days ago
- 4 min read
Researchers call for an Oncology Innovation Cluster to transform cross-border health and deliver economic impact on the island of Ireland
At a showcase event at the Massachusetts Institute of Technology (MIT) last night (18th March), facilitated by Cranmore Executive Search, leaders from across the island of Ireland and the US came together to determine how best to take advantage of the significant opportunity prompted by the All-Island Cancer Research Institute (AICRI) commissioned industry report Evaluating the current landscape and economic potential of precision oncology and digital health on the island of Ireland,
The oncology and digital health sectors have huge economic potential, experiencing considerable growth since the 1990s. The global cumulative revenue of all companies operating on the island of Ireland which offer oncology and digital health products and services, reached just under €2.4 trillion in 2022. It is projected to soar to over €10.7 trillion by 2032, a rise of nearly 350%.
Paul Rooney Vice Consul, Consulate General of Ireland, Boston, USA said:
"I am delighted to welcome international experts to Boston to highlight the enormous opportunities that the US and the island of Ireland can embrace together in the oncology and digital health sectors."
Professor Mark Lawler, Associate Pro-Vice-Chancellor and Professor of Digital Health at Queen’s University Belfast and co-lead of the All-Island Cancer Research Institute (AICRI) highlighted at the MIT event how the island of Ireland has become a crucible for innovation in the oncology and digital health domains.
“The work we have done, captured in this Industry report, emphasises the transformative economic impact that a well-functioning oncology and digital health ecosystem could have on the island of Ireland. It is fitting that we are congregated here tonight in Boston, a hotbed for innovation, to explore how to fast-track transformative progress in these important sectors.”
“We have a huge opportunity here to deliver something truly unique on the island of Ireland, through a cross-border approach that enhances both the health and wealth of our citizens and societies. We call out for the establishment of an All-Island Oncology Innovation Cluster so that we can realise the enormous potential that our island can offer. As the strapline for this event indicates, #CancerHasNoBorders. Current initiatives such as the Future Medicines Institute, Momentum One Zero, Accelerating Research to Commercialisation (ARC) Hub, combined with the All-Island Oncology Innovation Cluster proposed in this report can be game changers, driving innovation and acting as magnets to attract foreign investment to the island of Ireland.”
The report, funded through an InterTradeIreland Synergy Grant, predicts the economic benefit that can be delivered in oncology and digital health, by fostering an ecosystem that is underpinned by research and innovation in these two prominent and inter-related sectors. It recommends the creation of an All-Island Oncology Innovation Cluster to deliver three distinct benefits. The first is to fast-track the delivery of new business opportunities between industry and academia. The second is to foster all-island and international collaboration. The third is to help create high value jobs and attract investment, including venture capital, across the island of Ireland.
Dr. Victoria Manax-Rutson, Chief Medical Officer & Partner at Eckuity Capital, and a speaker at the event said:
“Its wonderful to highlight international healthcare markets and come together to recognize academic excellence and innovation. The expertise demonstrated at the event underscores the robust research culture embedded within Northern Ireland’s healthcare system. Moving forward, Northern Ireland is well-positioned to further elevate its international research profile, solidifying its reputation as a leading center for collaboration and clinical excellence.”
Grainne Lennon, International Funding and Collaborations Broker, InterTradeIreland and a panellist at the event said:
“We are delighted to support this report which highlights the value of cross-border collaboration and working together to address shared challenges and take advantage of growth opportunities. InterTradeIreland has been an enthusiastic supporter of the work of the All-Island Cancer Research Institute in creating all-island opportunities to date. There is great opportunity ahead and I am positive that future partnership and collaboration will lead to more cutting-edge research, projects, jobs, productively and ultimately enhanced health for the people across this island.’’
The report highlights how Northern Ireland has a thriving indigenous sector with a focus on diagnostics and digital enterprises, a higher proportion of university spin-outs and how investments through the Belfast Region City Deal such as the Momentum One Zero Innovation Centre and vision for future industry cluster development could be transformative, while Ireland has a high concentration of large multinationals, with a focus on drug manufacturing and digital health, supported by a strong research ecosystem.
Sean Carter, CEO of Cranmore Executive Search said
“We are delighted to be here at MIT to explore The Industry Report, which highlights the transformative economic potential of a robust oncology and digital health ecosystem on the island of Ireland. Collaboration and people lie at the heart of this vision, and we are fortunate to have such an exceptional group as AICRI driving it forward. An All-Island Oncology Innovation Cluster can create high-value jobs, attract investment, and strengthen the economy while improving health outcomes for everyone. None of this is possible without the collective drive and energy of all involved.”
Dr. Brian Flatley, VP of Consulting Services, S3 Connected and Chair of the Event said
“Delighted to be part of this event hosted in Boston, a region renowned for healthcare innovation, to share insights and forge partnerships with Academic, Industry and Government representatives. The proposed All-Island Oncology Innovation Cluster represents a unique opportunity to leverage our complementary strengths in precision medicine, creating not just economic growth but meaningful improvements in cancer care across the whole Island of Ireland. This initiative has the potential to establish Ireland as an international hub where cutting-edge research translates directly into life-changing therapies for patients worldwide.”
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