Development Commission approves record €7m investment across the region

That’s according to end-of-year figures which revealed that the WDC Investment Fund approved new investments for 44 businesses and community projects across the seven western counties under its remit over the past twelve months.

The investments approved are across a wide range of high-tech sectors from artificial intelligence, fintech, medical devices, ICT as well as more traditional sectors such as food and tourism.

In Galway the WIF invested in Atrian, an NUIG spin-out company developing a new non-thermal, non-scarring ablation technology for treating Atrial Fibrillation.

It has also approved loan finance for BIA Innovator Campus which plans to create 360 jobs within three years from over 40+ businesses and which will see 2,400 individuals receive training, development and support from the founding partners and wider stakeholders.

WDC CEO Tomás Ó Síochán said that last year’s total commitment ‘builds on more than 20 years of investment in the region’.

“In 2020 we have committed to additional investment in key sectors over the long term, to ensure the region continues to grow. Creating opportunities for those who live in the west and want to move or return to the west remains a core focus for the WDC,” he said.

Other investments across the region include Cora Systems, a global software company based in Leitrim, and Ovagen Group Ltd in Mayo, who are providing the world’s first commercially produced germ-free eggs for the pharmaceutical industry.

For more, read this week’s Connacht Tribune.

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