The eight arriving are David Panter, who is currently away with Ireland Under-20s at the Junior World Championships, back row James Connolly, lock Conor Kindregan, back row Rory Moloney, prop Saba Meunargia, versatile forward Sean O'Brien, centre Rory Parata and prop Jacob Walsh.
"We now have a duty to do everything we can to develop these young men and help them reach their full potential," Carolan said.
"We had a good year with the Connacht Academy. Obviously the rapid progression of Robbie and Kieran to the senior team was fantastic.
"But we also had our first year in the British & Irish Cup competition and we took a lot from that. Next year Connacht will once again compete in the Heineken and British & Irish Cup and with the demands of the Rabo, we need depth in our squad.
"I'm very much looking forward to seeing what we can do with our new blend of signings."
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