Tom O'Connor: 'Deeptech' offers new export avenues for Irish business

Indigenous industry can access underutilised global markets, says Cork economist Tom O'Connor

Deeptech application of lifesciences to product development and company spin-outs are anchored in technology centres, research clusters, and business incubators linking businesses to academia, research, and development.

The new reality of US tariffs has jolted Government and business groups to urgently grow more indigenous Irish industry, particularly those with high export potential, and help them access underutilised and new global markets.

There are two key challenges facing Irish indigenous business and government: firstly, to identify indigenous sectors and business areas where homegrown Irish companies have high export potential; secondly, while continuing to export to the US, to also diversify in to new markets outside America, thereby reducing their overall exposure to 15% US export tariffs - tariffs which the Trump administration could increase in future.