On Friday, 7 February 2025, the IIEA held the first event in the series of events on the subject of Developing a Life Sciences Vision for Ireland in partnership with Johnson & Johnson. This event, entitled Developing a Life Sciences Vision for Ireland: Lessons from Europe on Economic Strategy consisted of a panel discussion with Michael Lohan, CEO of IDA Ireland; Diana Arsovic Nielsen, CEO at the Danish Life Sciences Cluster; Professor Mark Ferguson, Former Director General of SFI and current Rapporteur and Lead Author for the European Commission High Level Group for the evaluation of Horizon Europe; and Jenni Nordborg, Director of International Affairs at Lif and Former National Coordinator for Life Sciences in Sweden. Contributions from the panellists and the conversation which ensued centred on how strategic collaboration between industry, government, and academia can position Ireland as a leader in the life sciences sector, drawing on insights from European models. The panellists also discussed how a holistic vision for the life sciences can become part of Ireland’s overall economic strategy.

Economic Growth and Competitiveness

The event began with an address by Michael Lohan, who highlighted the importance of foreign direct investment (FDI) for employment in Ireland, with the life sciences sector employing approximately 100,000 people across biopharma, pharma, and medical technologies. Mr Lohan argued that Ireland should focus on maintaining and improving competitiveness, planning efficiency, and infrastructure delivery to ensure that the country remains attractive for such investment and continued growth. In addition to this, he noted the ambitions of the Competitiveness Compass set out by the Commission in recent weeks and how that can build on the advice set out in the Draghi Report. Mr Lohan drew particular attention to the compasses references to innovation, decarbonisation, competitiveness, and increased security and resilience, all of which are welcomed in the life sciences sector and for FDI. Indeed, the significance of economic growth and competitiveness was highlighted by all of the panellists in their interventions.

Speaking after Michael Lohan, Diana Arsovic Nielsen emphasised the need to include small and medium enterprises (SMEs) in discussions about competitiveness, as they play a vital role in innovation. In addition to SMEs, she highlighted the importance of attracting large companies for large-scale investment and scaling within the European life sciences ecosystem.

Mark Ferguson discussed the benefits of learning from European peers and of what can be done at an EU level, pointing to the importance of the additional funding that Member States can receive for research and innovation. Prof Ferguson also focused on the need to mobilise more private capital, particularly from underutilised sources, such as pension funds. He noted that venture capital in Europe remains limited compared to the United States, despite promising steps taken by the European Innovation Council.  

Jenni Nordborg presented the case for Sweden as a prime example for where competitiveness plays a key role in that country’s life sciences strategy. Ms Nordborg emphasised that competitiveness and growth rely on the competencies of Sweden’s workforce as well as on the attractiveness of Sweden as a destination for investment, both of which are pillars of the Swedish Life Sciences Strategy. However, all participants stated that leadership and decisive action is needed at national and EU level to advance the shared strategic vision, pointing to the Strategy for European Life Sciences, which was in its consultation stage at the time of the event.

Research, Innovation, and Risk Taking

Prof Ferguson also reflected on the topic of investment in experimentation and how that can be beneficial in terms of overall economic strategy. He noted the role of the EU in making large-scale projects possible that would be beyond the reach of any single country. Prof Ferguson highlighted opportunities for Ireland to collaborate with actors in the United States and the United Kingdom, including Northern Ireland, citing Queen’s University Belfast’s Momentum One Zero Project, a cross-disciplinary digital innovation hub, which hopes to lead to growth in key areas of the University’s strengths, like Health and Life Sciences, as an example of leadership in artificial intelligence and cybersecurity as part of the broader transformation of the life sciences sector. In this context, he encouraged Irish policymakers to ‘think outside the box’ when it comes to supporting the indigenous sector and working with multinational firms on procurement, which he said is underutilised. While experiments may not always succeed as expected, he stressed that it is essential to advancing innovation in the life sciences. Ms Nielsen also noted that risk aversion is not limited to the public sector and called on the life sciences industry itself to be more open to experimentation and investment in emerging trends. Mr Lohan and Ms Nielsen also acknowledged the importance of a strong indigenous base, which should be considered in the development of a national life sciences strategy, as was done in Denmark. Paired with multinational companies and a strong research base, Mr Lohan posited that we can “…match our ambition to action”. In addition to this, Ms Neilsen discussed the importance of public procurement as a driver of innovation, noting that public health reform in Denmark now includes a mandate to lead and procure innovation. She highlighted that in Denmark, two-thirds of investment in the sector comes from private sources and that any successful strategy must involve industry expertise from the outset.

Lessons on Collaboration

Each coming from an international, non-Irish perspective, Ms Nielsen and Ms Nordborg both highlighted the importance of collaboration when it comes to developing a life sciences strategy. Ms Nordborg described the development of Sweden’s strategy as a cross-ministerial effort that relies on coordination, which was also echoed by Ms Nielsen in her remarks about Denmark’s strategy. Ms Nordborg noted that the Swedish Life Sciences Office includes staff from across multiple ministries, which she recommends for the development of any national strategy, and which can be seen in other countries’ models such as in the United Kingdom. Ms Nordborg explained that after building the necessary foundational core, the next step involves outreach, and collaboration with all regions of the country, in the case of Sweden there are 21 healthcare regions. Ms Nordborg advocated for the establishment of an advisory board like the one in Sweden, which supports the Life Sciences Office and offers guidance on the national strategy. Ms Nordborg emphasised that responsibility hereby does not rest with the government alone but is shared across the entire life sciences ecosystem. Ms Nielsen also emphasised the importance of involving all actors during the strategy development process, noting public-private-partnerships in particular, which helped unite Denmark’s previously fragmented market. Ms Nielsen described Denmark’s life sciences community as tightly connected, which aids cooperation, though she acknowledged that structural incentives are still needed to overcome some of the challenges that exist. Both speakers agreed that based on the development of their own countries’ life sciences strategies, which drew in expertise from different government departments, that this would be the best approach for Ireland’s strategy also.  This was confirmed my Minister Peter Burke, stating that the Department of Enterprise, Tourism and Employment (DETE) will be responsible for the development of the strategy and that they will be working closely  “…with the relevant Departments, agencies, and key industry stakeholders across the Life Sciences sector.”

Conclusion

The panel discussion ultimately outlined the strengths and opportunities in Ireland for the development of a national life sciences strategy. In hearing from representatives from both Sweden and Denmark, countries which have successfully integrated their life sciences strategies with their economic outlooks, it is clear that cross-sectoral collaboration, support for both multinational and indigenous firms, and connections between government, industry, and academia are essential for the creation of a holistic, sustainable life sciences vision. Competitiveness is at the centre of the EU’s economic strategy, and thus, innovation and experimentation as mentioned by all panellists, in particular Prof Ferguson, is a key factor for the life sciences sector in Ireland to be able to support and foster the development of indigenous companies, and to attract FDI, which was also mentioned by Mr Lohan and Ms Nielsen. Funding for such innovation and experimentation needs to be considered as part of any national life sciences strategy. The speakers agreed on the need to lean into new technologies such as artificial intelligence, to increase investment in disease prevention, and to create policy environments that support innovation across all levels. The speakers also concluded that Europe and Ireland are well-positioned to lead in global health innovation, while acknowledging that this would require coordinated action, sustained investment, and a shared willingness to take bold steps forward. It was also acknowledged that an integrated strategy, such as the Strategy for European Life Sciences, which was in its consultation phase at the time of the event, will be beneficial for the prospects of a future life sciences strategy for Ireland*.

* The Strategy for European Life Sciences was adopted by the European Commission in July 2025.