Skillnet Innovation Exchange drives €5m in SME deals, launches Digital for Sustainability, and expands regional hubs to boost Ireland’s innovation ecosystem.
Skillnet Innovation Exchange has facilitated more than €5m in deal flow for Irish SMEs since its launch in February 2022, according to an independent impact assessment published this week.
The report, authored by KHSK Economic Consultants, highlights the initiative’s role in connecting large corporates with smaller firms to accelerate innovation and digital transformation.
“Skillnet Innovation Exchange is equipping SMEs with the skills, capabilities and connections they need to innovate and grow”
The findings were presented at the Innovation Summit in Galway, where over 200 members of Ireland’s innovation community gathered to discuss competitiveness and collaboration.
The assessment shows that the programme has delivered 6,000 training days and established a nationwide presence through a network of regional hubs, underpinning what organisers describe as a “vibrant innovation ecosystem.”
Bridging the gap between enterprise and innovation
Ken Finnegan, chief strategy officer at Skillnet Ireland, said the model is helping to strengthen Ireland’s competitiveness.
“Skillnet Innovation Exchange is equipping SMEs with the skills, capabilities and connections they need to innovate and grow,” he said. “By bridging the gap between enterprise and innovation, this initiative enables larger corporates to address their digital and sustainability challenges while creating tangible growth opportunities for smaller firms.”
Since its inception, 30 deals have been completed through the exchange, with a total value of approximately €5 million and further agreements under discussion. Recent transactions include an €800,000 partnership between The Nestbox Egg Company and Nualach Automation, a rapid deal between Cycling Ireland and Fit2Trade, and a compliance-focused solution for Cork County Council delivered by Decision Analytics.
Conor Carmody, director of Skillnet Innovation Exchange, said the report marks a pivotal moment for the programme. “With a strong foundation, a proven model and a track record of delivery, Skillnet Innovation Exchange is very well positioned to build on momentum achieved to date,” he said.
Other collaborations cited in the report include Intersport Elverys’ engagement with EnergyElephant on sustainability, Astellas’ partnership with Pro-Reliability Solutions, and Horsesport Ireland’s work with Miagen on digital transformation.
Digital for Sustainability
The report also notes the launch of Digital for Sustainability, a new initiative aimed at helping businesses meet growing demands for ESG data from supply chains, investors and regulators. The programme applies the exchange’s challenge framework to connect organisations with digital solutions for sustainability reporting.
Skillnet Innovation Exchange operates through six regional hubs, including Republic of Work in Cork City, The Ludgate Hub in Skibbereen, Platform 94 in Galway, The Mill in Drogheda, the RDI Hub in Kerry and GreenTech HQ in Enniscorthy. These hubs support more than 50 national and regional events annually, providing training and networking opportunities for members. Strategic partnerships include Sport Ireland for Digital for Sport and Research Ireland for Discovery Exchange.
The report concludes that the initiative aligns closely with national priorities in competitiveness, digital transformation, sustainability and regional growth, and is well positioned to scale further.
Top image: Conor Carmody, director of Skillnet Innovation Exchange
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