Industry leaders from the UK and Galway meet in London to discuss the benefits of Galway as a European base
Galway Chamber of Commerce brought business leaders from the UK and Galway together for a 2-day seminar in London. The event, entitled “Why Galway”, was hosted over the 3rd and 4th of May by the Irish Embassy and Keltie, a London based Intellectual property firm with offices in Galway at Galway Technology Centre and PorterShed.
The purpose of “Why Galway” is to advise UK business leaders on the unique resources that Galway offers as an EU base. The visiting delegation comprised of key business leaders and representatives from Galway Chamber, Galway City Innovation District (GCID), Galway Technology Centre (GTC) and government support agencies including the IDA.
Rated as the Best Micro City in Europe 2016/2017 for both Economic Potential and Business Friendliness by the Financial Times fDi magazine, Galway is home to 9 out of the top 10 medtech companies and 4 of the 5 top ICT companies globally.
“As a Chamber, we are acutely aware of the importance of foreign direct investment to Galway. While we have had significant success in attracting multinational companies, we are committed to ensuring that Galway remains a wonderful location to run a business, to work and to live. Our mission this week will deliver this message to key influencers in London and is the first of several such engagements over the coming years”. Conor O’ Dowd, President, Galway Chamber.
Recognition of the culture of and quality of life of Galway city has been reflected in its designation as a European Capital of Culture for 2020 and Region of Gastronomy for 2018 as well as being nominated the Friendliest City in the World by Travel and Leisure Magazine.
“Together with our sister organisations, Galway Chamber and Portershed, Galway Technology Centre are committed to promoting Galway as the best location in Ireland to base European operations. As the U.K. moves towards a “Hard Brexit” and leaves both the Single Market and the Customs Union it is increasingly likely that many U.K. Companies, particularly Financial Service Companies, will continue to need an EU base to do business. Galway has many attractions such as excellent 3rd level education institutions, world class research centres and a European city of culture. There are many European Cities seeking to attract this U.K business and we in Galway must be assertive in promoting ourselves and this mission is a start in this regard.” Frank Greene, Chair, Galway Technology Centre
Galway has a 28% lower cost of living than Dublin and a student population of 25,000 across two 3rd level institutions yielding 8,000 graduates per annum. This has enabled global organisations such as Wayfair, EA Games and Siteminder to rapidly grow their European workforce.
Applied research centres at these institutions include the Insight Research Centre for Data Analytics, Digital Enterprise Research Centre, the Regenerative Medicine Institute and the Galway Medical Device Technology Centre.
These unique resources have benefitted start-ups and enterprises formed in the region including medical device manufacturer Creganna which was acquired for €821 million and financial services firm Fintrax who were sold for €170 million and later valued at €500 million.
They have also enabled the emergence of a vibrant start-up community in SaaS, Fintech and medical devices such as Blue Drop medical and established international cloud based platforms AltoCloud and OnePage CRM.
“The Galway City Innovation District is part of the vibrant start-up ecosystem in Galway, attracting creators, innovators and entrepreneurs who wish to work in close proximity to others in a supportive and connected environment. We have welcomed a number of FDI companies to the PorterShed our innovation hub, providing work space and networking opportunities. Working with our partners we help companies launch and grow. We are delighted to be part of the launch of “Why Galway”, the heart of innovation in the West of Ireland.” Maurice O’Gorman, Galway City Innovation District Chairman
“The prospect of Brexit led us to choose Ireland as a common-law, English-speaking base in the EU. But we wanted more than just a nameplate in Dublin: we saw the opportunity to build an exciting new business.
The West of Ireland is a hotbed of technologies that match Keltie’s traditional strengths, including medical devices, software, electronics, life sciences, renewable energy and marine engineering.
By opening in Galway, Keltie has not only cemented its place in the EU – it has joined the innovation community of one of the world’s most energetic cities.”