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Wednesday 18th October 2023: Enterprise Ireland client companies including, Oneview Healthcare, Prodieco, and MagrowTec today signed significant deals valued at over €15 million with US partners during Enterprise Ireland’s trade mission to the USA this week.
Minister for Enterprise, Trade and Employment, Simon Coveney T.D. is leading the joint Enterprise Ireland and IDA Ireland Trade Mission to Illinois, Indianapolis and Michigan this week, to boost trade relationships with key IDA client companies and promote world class Irish companies in the Mid-West region.
With Illinois being a major medtech hub in the US and representing significant collaboration opportunities for Irish medtech, pharmaceuticals, and healthcare companies, Enterprise Ireland companies announce significant new deals and partnerships with US healthcare leaders in the region, including:
Chicago Headquartered, Socius Ingredients and its Irish subsidiary Fusion Specialty Ingredients, announced their new R&D investment in co-operation with Teagasc Moorepark, Co Cork. Socius ingredients will partner with Teagasc and other Irish and International companies to develop added value ingredients.
During the trade mission, Minister Coveney will also meet with Illinois based, CoreFX Ingredients, a science-driven innovation company with strong Irish roots to explore potential collaborations between the company and Ireland’s highly innovative and collaborative R&D ecosystem.
Irish agtech company, MagrowTec announces a multi-million-dollar contract with Nicholson Tec of Rochester, Minnesota resulting in the company’s single biggest order to date. Nicholson Tec will distribute the MagrowTec Magnetic Assist Sprayer Boom Kit across 13 states in 2023, with plans to expand to 40+ states throughout 2024.
Welcoming today’s announcements, Minister for Enterprise, Trade and Employment, Simon Coveney T.D.,said: “This three-day trade mission has provided an unrivalled platform to engage with US companies and accelerate the business growth of Irish companies in the US. Ireland is producing world-class innovators, and there is huge appetite in the US to do business with Ireland and for US companies to tap into Ireland’s R&D innovation ecosystem and pipeline.”
Leo Clancy, CEO of Enterprise Ireland said: “Demand for Irish innovation in the US is at an all-time high, with Enterprise Ireland clients achieving record exports of €5.5bn in 2022, up 13% on the previous year. Today’s announcements are a great reflection of the market opportunity that the US represents, with North America being Enterprise Ireland clients’ third largest export market.
“I welcome the announcement of US food ingredients business, Socius Ingredients R&D investment in Ireland, in co-operation with Teagasc Moorepark, Co Cork. It is a great testament to Ireland’s world leading position in food and beverage innovation.”