As seen in the Irish Times by Tuesday Sep 12 2023
Most Irish businesses say they understand how important innovation is to their company but a third have yet to put a strategy in place, a new survey has found.
The research, carried out by Amarach Research for the Innovation Exchange, found that cybersecurity, sustainable operations and increasing profitability are among the top concerns, with artificial intelligence and machine learning also among investment priorities for a third of companies.
The main obstacles cited were budget, time and the expertise for implementation. Although 90 per cent of companies said they were open to collaboration with third parties, long procurement processes are a barrier to that for SMEs and large corporations.
‘Clear rationale’
Ireland continues to perform above the EU average in corporate innovation, it found, with 80 per cent of large organisations expecting it will become more important to their business in the next one to three years.
But more than a third of large businesses do not have a defined innovation strategy, with some 45 per cent not expecting to have one in place in the short term.
“There is a very clear rationale for why companies need to take an innovation agenda,” said Conor Carmody, programme director at the Innovation Exchange. “The threat and the response required to cybersecurity and protection of your business is a key driver of innovation. Also the streamlining of processes … it is all about this move to automate a lot of what’s manual at the moment.”
Mr Carmody said innovation was not necessarily about the latest and greatest invention or technology, but was more likely to be driven by process changes than product development.
More than 200 businesses took part in the survey, including 46 SMEs that are part of the Innovation Exchange.
“Companies have the day-to-day focus on keeping the lights on, keeping the business going,” said Mr Carmody. “People understand that the world is changing. They understand that businesses need to adapt and continue to grow. And the challenge they talk about is where do they find the time, and how do they prioritise those challenges? Then there’s the budget piece, and what we found at the Innovation Exchange is not that they must build new products and services themselves, but that collaboration with innovative SMEs and Ireland to have these solutions ready to go is a route that should be considered.”
Innovation Exchange
The Innovation Exchange, a collaborative ecosystem that facilitates work between companies and innovators, was established in 2022 to help overcome barriers to innovation. The initiative, which is an initiative of Skillnet Ireland, connects large companies with digital transformation challenges and technology companies that can offer solutions.
“Our focus at Skillnet Ireland is on driving business success and enabling innovation within both multinationals and SMEs,” said Skillnet Ireland’s Mark Jordan, chief strategic officer. “The Innovation Exchange has been very powerful in doing exactly that, by connecting large firms seeking business solutions with SMEs that can provide them. This will add greatly to driving innovation across a wide range of areas including digitalisation, climate and advanced manufacturing.”
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Ciara O’Brien
Ciara O’Brien is an Irish Times business and technology journalist
For further details or to speak to a member of The Innovation Exchange please email at info@theinnovationexchange.ie
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As we close out 2025, we are proud of the ambition, collaboration, and real-world impact demonstrated across the Skillnet Innovation Exchange network. From landmark deals and regional expansion to new industry-led initiatives, this year has shown what’s possible when industry, innovators, and researchers come together with purpose. Thank you to our members, partners, and collaborators for driving this momentum—we’re excited to build on it in 2026. Check out this 2025 Skillnet Innovation Exchange summary message from our Programme Director, Conor Carmody. None of this would be possible without the continued support of our regional partners—Platform94, RDI Hub, Ludgate Hub, Republic of Work, GreentechHQ, and The Mill Enterprise Hub Drogheda. Thank you for your collaboration and commitment throughout 2025. Deals Largest Deal to Date A major milestone: the signing of an €800,000 contract between two of our members: Nuálach Automation (Cavan) and The Nest Box Egg Company (Monaghan). Read more here. Regional Expansion Skillnet Innovation Exchange announces Southern expansion in Cork to Support Businesses. Read more here. Minister Niamh Smyth announces Skillnet Innovation Exchange Expansion in Co Cavan. Read more here. Industry Initiatives Launched in October 2025, Digital for Sustainability is already delivering results. Ballymaloe Foods published the first Digital for Sustainability challenge, and we’re delighted to share that less than six weeks later, a contract has been awarded. The winning solution came from Reverve, whose energy-monitoring solution perfectly met Ballymaloe’s needs. We were pleased to welcome Guaranteed Irish as our first Digital for Sustainability partner. As one of Ireland’s most trusted business organisations, representing over 2,000 Irish businesses, Guaranteed Irish brings a strong national network and a clear commitment to sustainable and responsible business growth. Delivered in partnership with Research Ireland under the National Challenge Fund, Discovery Exchange is designed to spark meaningful collaboration—creating a structured space for industry leaders and researchers to connect, share insights, and explore opportunities to co-develop solutions to Ireland’s most pressing societal challenges. This year, we completed three cohorts, engaging 84 participants across 28 National Challenge Fund research teams. Milestones Skillnet Innovation Exchange Facilitates €5 Million in Deals Done A major highlight of the year was the launch of the Skillnet Innovation Exchange Impact Report, showcasing the tangible progress achieved since inception. Read more here. We hosted our first Innovation Summit in Galway, welcoming almost 200 innovators and entrepreneurs. Watch Innovation Summit Summary here.
New Initiative Gives Irish Business a Competitive Edge on Sustainability
Skillnet Innovation Exchange, Ireland’s marketplace for innovation, has launched Digital for Sustainability — an industry-led initiative designed to help Irish businesses meet the growing demand from large customers and procurement teams for reliable sustainability data. As sustainability reporting becomes a critical factor in winning contracts and maintaining competitiveness, Digital for Sustainability leverages Skillnet Innovation Exchange’s proven challenge framework to connect organisations with innovative digital solutions — including automation and analytics tools — that make sustainability reporting faster, more reliable and more cost-effective. The launch follows the publication of a new report from Skillnet Innovation Exchange showing that the initiative has generated over €5 million in SME deal flow since its launch three years ago. The national platform supports both large and small businesses by connecting corporates facing innovation challenges with SMEs that can deliver fast-track solutions. To date, 70 innovation challenges have been published and 30 deals completed, with that figure expected to grow significantly by year-end. Digital for Sustainability has already achieved its first success, with Intersport Elverys publishing a challenge to source a sustainability dashboard to manage energy, water, and waste data. Innovation Exchange member Energy Elephant pitched for and won the contract. More recently, Ballymaloe Foods published a sustainability challenge on the platform, with the process expected to conclude in the coming weeks. Recent deals facilitated by the marketplace for innovation include: · The Nestbox Egg Company & Nualach Automation — the largest deal to date, valued at €800,000 · Cycling Ireland & Fit2Trade — a partnership signed within ten days of the initial pitch · Cork County Council & Driver Focus — a product solution meeting internal compliance requirements These join a growing list of successful partnerships that demonstrate the Exchange’s ability to turn innovation challenges into commercial opportunities, including: · Intersport Elverys & Energy Elephant — first Digital for Sustainability deal · Astellas & Pro-Reliability Solutions — a unique partnership delivering compliance services · Horsesport Ireland & Miagen — a Digital for Sport collaboration The Innovation Exchange is now open to help businesses of all sizes turn their sustainability data management challenges into a competitive advantage. · For business with a sustainability data challenge: Email oonagh@theinnovationexchange.ie to explore the benefits of joining Ireland’s marketplace for innovation. · For solution providers: Join the marketplace at www.theinnovationexchange.ie ENDS For media queries contact: Oonagh Fox, Skillnet Innovation Exchange Tel: 087 8554406 Email: oonagh@theinnovationexchange.ie About Skillnet Innovation Exchange Skillnet Innovation Exchange is an Irish innovation platform that brings together large corporations undergoing digital transformation with scaling SMEs that offer innovative solutions. Launched in 2022 in partnership with Furthr, the programme bridges the gap between the demand for new technologies and the supply of agile, homegrown tech capabilities. Corporates, present real-world transformation challenges. In turn, scaling Irish SMEs—referred to as “solution providers”—pitch solutions, fostering practical and impactful collaborations. The programme operates nationally, supported by regional hubs such as Republic of Work in Cork, The Mill in Drogheda, GreenTechHQ in Wexford, Platform94 in Galway, RDI in Kerry and the Ludgate Hub in Skibbereen. This ensures SMEs from across Ireland have the chance to engage with corporates and scale their businesses. Since its launch, in excess of 70 innovation challenges have been issued, resulting in successful commercial partnerships. By facilitating direct engagement between corporate leaders and tech innovators, The Innovation
Skillnet Innovation Exchange Facilitates €5 Million in Deals Done
Press release, Dublin, 23 October 2025: A new report from Skillnet Innovation Exchange has revealed that the national initiative, which provides support to businesses both large and small by connecting larger companies facing innovation challenges with SMEs that can fast-track solutions, has generated over €5 million in SME deal flow since it was launched in February 2022. The findings of the independent impact assessment, authored by KHSK Economic Consultants, shows that Skillnet Innovation Exchange has delivered 6,000 training days and established a nationwide footprint through a regional partner network, forming the basis of a vibrant innovation ecosystem. Skillnet Innovation Exchange is Ireland’s marketplace for innovation connecting companies facing digital transformation challenges with innovative SMEs. The findings were unveiled at The Innovation Summit, Skillnet Innovation Exchange’s national gathering held in Galway, where more than 200 members of Ireland’s innovation community met to explore collaborative innovation, competitiveness and digital transformation. Speaking at the event, Ken Finnegan, Chief Strategy Officer, Skillnet Ireland, said: “Skillnet Innovation Exchange is playing a vital role in strengthening Ireland’s competitiveness by equipping SMEs with the skills, capabilities, and connections they need to innovate and grow. 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. The impact highlighted in this report demonstrates how this model is driving real economic value, fostering collaboration, and helping to future-proof Ireland’s innovation ecosystem.” Conor Carmody, Director of Skillnet Innovation Exchange, said: “We are delighted to release this Impact Report at such a pivotal point for our initiative. Skillnet Innovation Exchange has shown that it can make a meaningful contribution to Ireland’s competitiveness by supporting innovation development and accelerating its adoption. 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.” According to the assessment, Skillnet Innovation Exchange provides SMEs with access to significant growth opportunities and exposure to prospective customers, while enabling larger organisations to discover and adopt cutting-edge solutions more efficiently. The report concludes that Skillnet Innovation Exchange is well positioned to scale further, driving national competitiveness and ensuring that more innovation and employment are created and retained in Ireland. To date, 30 deals have been completed through Skillnet Innovation Exchange, with that number expected to grow substantially by year-end. The total value of these collaborations stands at approximately €5 million, with further follow-on agreements already under discussion. Three new deals were facilitated by the marketplace for innovation in this quarter: These join a growing list of successful partnerships that demonstrate the Exchange’s ability to turn innovation challenges into commercial opportunities, including: Launch of ‘Digital for Sustainability’ With it becoming increasingly clear that reporting of sustainability data is now a critical factor in winning contracts and staying competitive, Skillnet Innovation Exchange launched Digital for Sustainability, a new industry-led initiative designed to help Irish businesses to meet growing demands for ESG data from supply chains, procurement teams, investors and regulators. Digital for Sustainability applies Skillnet Innovation Exchange’s proven challenge framework to connect organisations with innovative digital solutions, including automation and analytics, that make sustainability reporting faster, smarter and more cost-effective. Expanding Regional Network According to the KHSK Economic Consultants Impact Report, Skillnet Innovation Exchange is playing an important role in implementing regional policy and it strengthens the existing regional economic developing organisations. Skillnet Innovation Exchange has a strong national footprint and expanding regional network, currently involving six innovation hubs – Republic of Work in Cork City, The Ludgate Hub in Skibbereen Cork, Platform 94 in Galway, The Mill, Drogheda, the RDI Hub in Kerry and GreenTech HQ in Enniscorthy – which allows it to roll out over 50 national and regional events per annum, facilitating training and networking for members. It has strategic partnerships with Sport Ireland (Digital for Sport) and Research Ireland (Discovery Exchange). The outcomes outlined in the Impact Report reflect strong alignment with national priorities in competitiveness, digital transformation, sustainability, talent development entrepreneurship as well as regional growth. Scale-ups and corporates in the region are being encouraged by Skillnet Innovation Exchange to sign up at www.theinnovationexchange.ie. ENDS For media queries contact: Oonagh Fox, Skillnet Innovation Exchange Tel: 087 8554406 Email: oonagh@theinnovationexchange.ie About Skillnet Innovation Exchange Skillnet Innovation Exchange is an Irish innovation platform that brings together large corporations undergoing digital transformation with scaling SMEs that offer innovative solutions. Launched in 2022 in partnership with Furthr, the programme bridges the gap between the demand for new technologies and the supply of agile, homegrown tech capabilities. Corporates, present real-world transformation challenges. In turn, scaling Irish SMEs—referred to as “solution providers”—pitch solutions, fostering practical and impactful collaborations. The programme operates nationally, supported by regional hubs such as Republic of Work in Cork, The Mill in Drogheda, GreenTechHQ in Wexford, Platform94 in Galway, RDI in Kerry and the Ludgate Hub in Skibbereen. This ensures SMEs from across Ireland have the chance to engage with corporates and scale their businesses. Since its launch, in excess of 70 innovation challenges have been issued, resulting in successful commercial partnerships. By facilitating direct engagement between corporate leaders and tech innovators, The Innovation Exchange drives mutual value: corporates access new digital capabilities quickly, while SMEs gain critical exposure, market insight, and commercial traction. It’s a win-win initiative supporting the evolution of Ireland’s digital economy and fostering a collaborative innovation ecosystem. About Skillnet Ireland Skillnet Ireland is the national talent development agency of the Government of Ireland, responsible for advancing the competitiveness, productivity, and innovation of Irish businesses through enterprise-led talent development. Skillnet Ireland partners with 57 industry bodies, supporting over 24,000 businesses and more than 90,000 trainees annually, through its 70 Skillnet Business Networks and five National Initiatives – Skillnet Climate Ready Academy, Skillnet Innovation Exchange, Skillnet MMC Accelerate, Skillnet Offshore Wind Academy and MentorsWork – across most sectors and all regions in Ireland. Skillnet Ireland is funded from the National Training Fund through the Department of Further and Higher Education, Research, Innovation and Science. To learn more about Skillnet Ireland visit www.skillnetireland.ie Skillnet Business Network search tool: https://www.skillnetireland.ie/our-networks/ Facebook:
Minister Niamh Smyth Commends Irish Companies Availing of Skillnet Innovation Exchange Business Supports
Cavan, 19th August, 2025:Today, Skillnet Innovation Exchange is pleased to announce a significant milestone with the signing of a contract worth €800,000 between Nuálach Automation based in Cavan, and The Nestbox Egg Company in county Monaghan. The Nestbox Egg company, which handles approximately five million eggs every week, was seeking to improve efficiencies to build, label, and pack cartons on its production line. Nuálach Automation pitched, and ultimately delivered, a customised solution, the Eggsact Robot Packer, which integrates seamlessly into the Nestbox infrastructure, reducing manual workload while increasing scalability. Commenting on the achievement, Minister Niamh Smyth, said: “Today’s announcement is a powerful example of what can be achieved when innovative Irish SMEs are connected directly with larger companies through initiatives like Skillnet Innovation Exchange. Government supported initiatives like this play a vital role in driving productivity, supporting regional development, and strengthening Ireland’s position as a global leader in enterprise and innovation. I would like to commend The Nestbox Egg Company and Nuálach Automation for using this proven initiative to innovate and build competitiveness for their businesses.” Skillnet Innovation Exchange connects large businesses facing innovation challenges with talented solution providers that fast-track innovation. To date the initiative facilitated the delivery of more than 70 innovation challenges experienced by larger corporates, to its SME member base. Corporate members of the Skillnet Innovation Exchange, which now number over 50, include some of Ireland’s leading companies, like InterSport Elverys, Horse Sport Ireland, Ryanair, Glanbia and many more. Mark Jordan, Chief Executive, Skillnet Ireland, said: “This success highlights the real-world impact of the Skillnet Innovation Exchange in empowering SMEs to win high-value contracts while helping larger businesses solve strategic challenges. Supporting digital transformation is a key focus for Skillnet Ireland, through national initiatives like Skillnet Innovation Exchange and our 70 Skillnet Business Networks. Through collaborative partnerships, we are not only advancing digital transformation but also strengthening Ireland’s competitiveness across multiple sectors.” The Skillnet Innovation Exchange model works by giving SME organisations the opportunity to respond to the challenge presented by the larger corporate company, with those successful in their initial submission selected to meet with the prospective buyer to pitch their solution. Since launching in February 2022, over 120 SMEs have had the opportunity to pitch directly to a corporate buyer. The programme offers SMEs not only a qualified sales pipeline but a valuable opportunity to engage with prospective customers on industry requirements – providing a clear benefit to solutions providers developing new products for market. Conor Carmody, Director of Skillnet Innovation Exchange, said: “We are delighted that so many businesses are realising the benefits of Skillnet Innovation Exchange and one of these benefits is the sizeable deal announced today. The success of the programme is in large part down to the active engagement of our members – both our large corporate members, which include Ireland’s most ambitious and progressive companies, and our SME members which include some of Ireland’s most talented and innovative minds. Evan Roarke, Co-founder of Nuálach Automation, said: “The challenge presented through Skillnet Innovation Exchange provided us with the opportunity to pitch for this exclusive contract in an efficient and seamless manner. We are proud to partner with The Nest Box Egg Company to deliver the Eggsact Robot Packer — a high-speed, high-volume precision robotic solution for egg packaging. By significantly reducing reliance on manual labour, the Eggsact Robot Packer will not only enhance operational efficiency and packaging precision but also support greater scalability and sustainability across their supply chain.” Eoin McEvoy, CFO, The Nestbox Egg Company, added: “Through Skillnet Innovation Exchange, we have found a partner right here in our region. This automation investment will significantly boost our production capacity while supporting our long-term growth. Skillnet Innovation Exchange gave us access to a pool of talented solution providers and, through its structured process, helped us quickly identify and shortlist five strong contenders. The process is extremely comprehensive and effective, it gave each provider the opportunity to pitch directly to us, allowing for real engagement and helping us build the foundations for a long-term partnership.” Skillnet Innovation Exchange is now welcoming new members. Whether you’re a scaling SME or a corporate seeking solutions, visit www.theinnovationexchange.ie to learn more. ENDS For media queries contact: Valerie Kennedy Skillnet Innovation Exchange Guinness Enterprise Centre, Taylor’s Lane, The Liberties, Dublin D08 YPP9 Email: valerie@theinnovationexchange.ie Tel: 087 6777071 About Skillnet Innovation Exchange Skillnet Innovation Exchange is an Irish innovation platform that brings together large corporations undergoing digital transformation with scaling SMEs that offer innovative solutions. Launched in 2022 in partnership with Furthr, the programme bridges the gap between the demand for new technologies and the supply of agile, homegrown tech capabilities. Corporates, present real-world transformation challenges. In turn, scaling Irish SMEs—referred to as “solution providers”—pitch solutions, fostering practical and impactful collaborations. The programme operates nationally, supported by regional hubs such as Republic of Work in Cork, The Mill in Drogheda, GreenTechHQ in Wexford, Platform94 in Galway, RDI in Kerry and the Ludgate Hub in Skibbereen. This ensures SMEs from across Ireland have the chance to engage with corporates and scale their businesses. Since its launch, in excess of 70 innovation challenges have been issued, resulting in successful commercial partnerships. By facilitating direct engagement between corporate leaders and tech innovators, The Innovation Exchange drives mutual value: corporates access new digital capabilities quickly, while SMEs gain critical exposure, market insight, and commercial traction. It’s a win-win initiative supporting the evolution of Ireland’s digital economy and fostering a collaborative innovation ecosystem. About Nuálach Automation Nuálach Automation is one of Ireland’s fastest growing independent full-service suppliers in the controls, robotics and special purpose automated precision machine building markets. Operating from our modern facility in Virginia, Nuálach Automation is a trusted automation partner for leading global manufacturers across the Food & Beverage, MedTech, Pharma, Automotive, & General Industries. With strong Irish roots and international reach Nuálach Automation specialise in delivering cutting-edge automation solutions that empower our customers to achieve greater efficiency, precision, and scalable growth. As a trusted partner in innovation, we seamlessly integrate advanced technology,
