Limerick City & County Council is in the process of establishing a new public-private partnership company, ‘Innovate Limerick Ltd’.
This company will integrate the innovation activities of both the Limerick 2030 Economic Strategy (2013) and the Limerick Regeneration Framework Implementation Plan (2013) and deliver on this socio-economic innovation agenda.
These plans build on previous reports, including the Mid West Task Force Report (2009) and the Forfás Mid West Regional Competitiveness Agenda (2010), which argue that Limerick's innovation ecosystem should be more open and collaborative to help transition Limerick to a high value added economy.
The new company will seek to accelerate innovation in Limerick by providing a supportive environment that will facilitate and encourage higher levels of innovation across the various stakeholders and sectors in Limerick.
Limerick 2030 Economic/Spatial Strategy (2013) calls for the development of incubation space for post incubation, next stage, high potential start-ups, emerging FDI start-ups, corporate ventures, VC funds and sectoral/cluster initiatives and special programme delivery.
Limerick Regeneration Implementation Framework (2013) details plans for the creation of a National Social Innovation Hub in Limerick and details comprehensive plans for the creation of a new ‘medical Village’ for Limerick.
Economic and Social Innovation
In order to address the issues as outlined in the Limerick 2030 Plan and the Limerick Regeneration Framework Implementation Plan, Innovate Limerick Ltd will deliver on two strategic pillars: (1) Economic Innovation and (2) Social Innovation, with key goals across each pillar including:
- Establishing the Limerick Innovation Hub;
- Encouraging innovation partnerships/linkages;
- Establishing the National Social Innovation Centre;
- Developing the Limerick Medical Village;
- Supporting agri-innovation; and
- Doubling the number of firms in incubation and in receipt of new