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:
- The Nestbox Egg Company & Nualach Automation — largest deal to date, valued at €800,000
- Cycling Ireland & Fit2Trade — a partnership signed within ten days of the initial pitch
- Cork County Council & Decision Analytics – 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 and EnergyElephant — first Digital for Sustainablity deal
- Astellas & Pro-Reliability Solutions – a unique partnership delivering compliance services.
- Horsesport Ireland & Miagen – Digital for Sport deal.
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: @SkillnetIreland
Twitter: @SkillnetIreland
LinkedIn: www.linkedin.com/company/skillnetireland
