Government hopes that the largest investment in research, in the history of the state, will revive economy
The Taoiseach(Prime Minister), Brian Cowen TD, announced a 359 million euro investment plan for research and innovation last Friday at Dublin’s Grand Canal Theatre. The latest investment is expected to create jobs and new enterprises, and to drive Ireland’s economic recovery.
This current cycle of funding (Cycle 5) is part of the Government’s Programme for Research in Third-Level Institutions (PRTLI) which focuses investment in “physical infrastructure and research projects” in higher education institutions in Ireland.
As part of “Cycle 5” the Government will invest €296.1 million, with €62.6 million coming from private non-Exchequer sources over a period of 5 years starting from 2011.
At the launch, the Taoiseach spoke about his recent trade visit to the United States where he said he emphasised that “Ireland’s recovery was underway.”
“We have taken the difficult decisions and we are coming out of the crisis. Our focus now is on maximising sustainable growth and job creation,” said Mr Cowen.
A €500 million Innovation Fund, launched in New York last week by Mr Cowen, seeks to attract top-tier venture capitalists to Ireland, which the Government says is part of their strategy to support Irish start-ups and attract overseas entrepreneurs to Ireland.
It was the Taoiseach’s opinion that over the past decade, Ireland had established a strong research environment and built scientific excellence in strategic areas.
Nonetheless, the Innovation Taskforce which was setup by the Government to help position Ireland as an International Innovation Development Hub and to assist in making the Smart Economy a reality highlighted the need to translate investment into sustainable jobs and economic growth.
“We need to strengthen links between our research institutions and industry to ensure that we develop, transfer and apply knowledge in productive ways,” said Mr Cowen.
Largest investment in research in history of state
Minister for Enterprise, Trade and Innovation, Mr Batt O'Keeffe TD, said that Ireland’s five-year plan for R&D was the largest investment in research in the history of the State, and would help to create ‘smart’ jobs and make Ireland Europe’s innovation hub.
“It [the €296 million investment] will transform Ireland’s research landscape and lay the foundations for prosperity based on sustainable high-quality jobs.
“By investing in research, buildings and people, we can continue to make our higher education institutions among the best in the world and drive a new culture of innovation that will create smart jobs for smart people,” said Mr O'Keeffe.
“The new higher education infrastructure will allow Enterprise Ireland to embed industry-led competence centres and enable Science Foundation Ireland (SFI) to build world-class research capacity in areas linked to industry,” said Minister O'Keeffe.
Director of Policy & Communication at the SFI, Dr Graham Love, said his organisation was delighted with the Governments’ re-commitment to the scientific agenda. “We were worried that there was a little bit of a wobble with the economic crisis over the past couple of years, this and the re-commitment to SFI, I think Ireland can maintain its path.”
Commenting on Irelands’ scientific progress over the past thirty years, Dr Love made the point that great progress has been made since the 1980’s, when Ireland was ranked below Bangladesh, to recently breaking into the top twenty in the world.
The SFI representative was hopeful that the new commitment from the Government would enable Ireland to progress further up the world rankings.
Dr Love also thought that the Governments announcement was proof of their long term commitment to R&D. The funds that would be made available to researchers would enable them to equip themselves with the high tech resources needed to attract and retain companies like Microsoft, Google and HP.
“We also want to help develop more high tech indigenous industry ... I think this [Cycle 5] is real and will continue, we were worried but we are pleased now,” concluded Dr Love.
Trinity College to “realize their ambitions”
Dr John Hegarty, Provost of Trinity College Dublin, told The Epoch Times that the announcement was wonderful news. “The last year we were all wondering whether the Government would hold its nerve on supporting R&D, we were worried about our international reputation, this really puts all that to bed.”
The Provost had not seen the full details of the new funding for Trinity College so was unable to comment in detail, but he thought that TCD had done “quite well” and the new funding would help them “realize their ambitions.”
Direct commercial outputs from research are accelerating
According to the Department of Enterprise, Trade and Innovation, “since 2006, invention disclosures have doubled and patent licences issued to companies have trebled.”
Another highlighted, positive aspect of a healthy R&D environment was the fact that last year, half of IDA Ireland’s foreign direct investment wins were in research, development and innovation and valued at €500 million.
UCC President, Dr Michael Murphy said he was delighted with UCC’s performance in securing competitive funding in the key areas of energy, life sciences, technology and health, all of which are crucial to Ireland’s economic future. “UCC welcomes the steadfast commitment of Government to support its long term strategy for research and innovation in these difficult economic times. Today’s announcement is a statement of confidence in the capacity of our academic staff to generate new wealth and employment opportunities for our society.“
