Milestone for state agency promoting social and economic development in the west including Leitrim

An Irish state agency which promotes social and economic development in the west and northwest covering counties Donegal, Sligo, Leitrim, Roscommon, Mayo, Galway and Clare has reached a significant milestone.

The Western Development Commission (WDC), which includes Co. Leitrim, has announced a milestone achievement as it reaches its 50th investment in MedTech and Life Sciences companies, "reinforcing the Western Region’s reputation as a global centre of excellence for medical innovation, research, and manufacturing".

The Western Development Commission (WDC) is a state agency responsible for promoting social and economic development across the Western Region, which includes the counties of Leitrim, Donegal, Sligo, Mayo, Roscommon, Galway, and Clare and it's mandate focuses on supporting regional growth, investment, innovation, and job creation, with a particular emphasis on strengthening rural and regional communities. 

A statement to the Leitrim Observer said: "Established as Ireland’s only evergreen investment fund, the Western Investment Fund plays a uniquely catalytic role by reinvesting all returns back into the region. Over 25 years, the fund has become one of the largest indigenous MedTech portfolios in the country, supporting companies that have collectively spent €420 million on R&D, generated more than 1,000 patents, and produced technologies that treat millions of patients worldwide. "

READ MORE: 'Irish language could be a unifying, rather than divisive factor' - Leitrim/Sligo Senator

It continued: "WIF backed portfolio companies have generated €1.7 billion in revenues (€4.8 billion on an economy-wide basis), created almost 6000 direct and indirect jobs, and attracted more than €400 million in leveraged public and private investment, representing a 13-times multiplier on WIF’s own contribution. A further €600 million has been realised through trade sales and exits, many of which have brought significant foreign direct investment into the region."

Companies supported by the fund include Aerogen, Neuravi, Cambus Medical, Whiteswell, Bluedrop Medical, Amara Therapeutics, Vivasure Medical, Signum Surgical and Aurigen Medical. The companies supported are developing disruptive, patient-focused technologies across acute care, stroke treatment, digital therapeutics, microtissue screening, and vaccine production. 

These innovations have targeted urgent global needs including heart failure, diabetic care, women’s health, infectious disease, and minimally invasive surgical technologies. 

The statement continued: "The WIF’s impact is underpinned by a deep collaborative ethos spanning founders, investors, multinational acquirers, universities, research institutes, and state partners. Its long-standing relationships with University of Galway, the Atlantic Technological University (ATU), Enterprise Ireland, and a vibrant angel investor community have been central to its success. The fund has also helped seed 12 BioInnovate spinouts, supported dozens of ATU iHub companies, and contributed to emerging innovation clusters such as CREW and the AIM Centre."

Allan Mulrooney, CEO of the Western Development Commission, said: 

“Reaching our 50th MedTech investment is more than a milestone; it is a testament to the vision, ambition, and resilience of founders across the West and Northwest of Ireland. These entrepreneurs are developing technologies that save lives, transform patient care, and compete on the world stage. Our role is to back them early, share their journey, and ensure that regional innovation has the funding and support it needs to thrive. This achievement shows what patient, place-based investment can deliver for Ireland’s economy and society.”