Enterprise Ireland’s prestigious Annual Business Results were announced this week by Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar and Enterprise Ireland CEO Leo Clancy at Life Scientific’s headquarters in Dublin.
This visit to the offices and laboratories of the ground-breaking generic agrochemical manufacturer at Founders District, adjacent to the UCD campus in Clonskeagh, follows on from the recent incredible success of Life Scientific CEO Nicola Mitchell in the Ernst and Young (EY) Entrepreneur of the Year competition. Nicola was overall winner for the Irish competition and went on to represent Ireland at the virtual global event.
The EY Entrepreneur of the Year Awards were established 23 years ago, to promote entrepreneurship across the island of Ireland and empower entrepreneurs. The programme not only ensures national and international recognition for successful finalists and Alumni but also provides invaluable networking and business opportunities.
Mr Varadkar said of Nicola’s EY win “to have won it last year takes a special type of entrepreneur.” He congratulated all of the Life Scientific Team on their performance throughout the pandemic.
Nicola said she was proud of to be a key part of what the Tanaiste referred to as the “incredible resilience” of Irish businesses and the “agility and innovation that’s hard-wired into the Irish business ecosystem.”
Nicola’s motivation to join the EY programme was to provide a platform to share the ground-breaking, innovative science that the Dublin-based company has developed, based on bringing a wider range of valuable off-patent agrochemicals to market more efficiently and faster than ever before.
There is no denying the success of this approach. Today, Life Scientific employs over 80 people: more than 60 at its Clonskeagh base and the remainder in its subsidiary operations in France, UK, Germany and Spain. The Dublin team includes more than 50% scientists from a range of chemistry and life sciences backgrounds.
The benefits of this R&D programme has enabled the company to develop a portfolio of more than 60 registered products sold in 5 countries, achieving 50% revenue growth to €60m in the last financial year, and targeting €250m by 2025.
Enterprise Ireland have been a strong supporter of the business from the beginning. Life Scientific has benefited from participation in the Leadership for Growth and International Selling Programmes, as well as grant funding for RTI and more recently for Lean implementation.