The first North-South network for the health technology and biotechnology industries was unveiled in Dublin today.
BioMedIreland is a joint initiative by the Irish Medical Devices Association (IMDA), the Irish BioIndustry Association, (both affiliated to IBEC), BioBusinessNI and InterTradeIreland, and it aims to exploit the growth in these sectors by developing cross-border business networks.
IMDA chairman Mr Michael O'Neill said the network will provide an "all-island focal point" for the sector, which will enable improved networking, sharing of knowledge and models of best practice.
BioMedIreland will produce an all-island database and detailed economic impact studies for the sector, and it will facilitate the organisation of a series of seminars, study visits, workshops and conferences.
On the island of Ireland, the health technology and biotechnology sector employs over 27,000 people in 250 companies, with exports in excess of €4.2 billion per year.
With most of the world's leading multinationals are located here, combined with a rapidly expanding indigenous sector, biotech has been identified as one of the key strategic growth areas for future economic development.