|
Last Updated: Dec 19th, 2007 - 13:17:15 |
The Minister for Enterprise, Trade and Employment, Micheál Martin TD, today outlined the details of the Government’s new Strategy for Science, Technology and Innovation 2006-13 to key stakeholders from enterprise and academia, at an event held in Wyeth’s campus at Grange Castle, Clondalkin, Dublin.
 |
| Purification train at Wyeth's new biotechnology campus at the Grange Castle International Business Park in Clondalkin, Dublin, Ireland Photo: Pharmaceutical-technology.com |
The audience comprised some of Ireland’s top researchers and our top research-performing firms, both national and multinational. All of the state’s research funding agencies and Departments were also represented.
Outlining the vision of Ireland as a leading knowledge economy by 2013, the Minister told stakeholders that the Strategy, which was launched by the Taoiseach and five Cabinet colleagues on 18 June to wide support, is driving industrial policy by simplifying the R&D Grants Scheme and a providing a new IP Commercialisation Fund for Irish Universities, both being taken forward by his Department and agencies. The Strategy is pro-business, pro-education and pro-academia. “There will be no losers if all stakeholders sign up for the full delivery of this Strategy” the Minister said. “The impact on competitiveness and on the economy as a whole will be positive”.
Minister's timeline is optimistic
Briain Maccaba founder of FX technology company Cognotec, recently told Finfacts that the company will have revenues of $100 million before contemplating an IPO.
Maccaba welcomed the Government's July announcement that the State will invest up to €3.8 billion in R&D in the period to 2013.
"We've been unable to produce scalable tech companies because of the lack of depth in scientific research. A comparable country like Israel, has over 70 companies on Nadsaq," he said.
Top Irish-owned Tech Companies
| Company |
2005 |
| |
Revenue |
Profit |
| Iona |
$66.8m |
-$0.8m |
| Trintech |
$48.6m |
-$3.0m |
| Datalex |
$28.5m |
$0.6m |
| Norkom |
€18.1m |
€3.3m |
| Fineos |
€21.5m |
€1.9m |
| Cognotec |
$28.1m |
$3.7m |
It will likely take Ireland up to 20 years rather than 7 to achieve the level of Israel in relation to the development of home-grown knowledge intensive firms.
On Tuesday, July 25th, Hewlett-Packard announced its agreement to acquire Israeli software company Mercury Interactive, which has annual revenues of $800 million and was founded in 1989.
Foreign firms were responsible for 87% of Irish exports in 2005 and it is expected that the current level of Foreign Direct Investment in the Irish economy will fall over the next two decades.
Chipmaker Intel and top PC maker Dell, are Ireland's biggest manufacturing employers.
Lord Leverhume, who as William Hesketh Lever (1851 - 1925) , manufactured Sunlight Soap, famously said: "I know half my advertising is wasted, tell me which half!" The same could be said of public R&D spending.
There is a danger that academics could be the ones who reap the material gains while using Ph.D students on public funding as mules working on research that has little likelihood of being commercialised. Enterprise Ireland already provides funds for Ph.D research where part of it is used for research at overseas universities, which would have control of intellectual property rights.
University Technology Transfer offices to be strengthened
Martin said that “new in-company research and development initiatives will bring together for the first time, under a single heading within each Agency, financial supports for company-led research projects by the Agency clients, providing an integrated and unified approach capable of meeting their needs flexibly and efficiently,” the Minister stated and “ it is anticipated that, when these schemes are launched, they will not only facilitate companies in embedding a sustainable culture of innovation in their own organizations, through in-house R&D activity, but will, thereby, allow Ireland to reach its targets for increased R&D expenditure set out under the Strategy” he added.
The Minister also explained how “a scheme has been developed to strengthen Technology Transfer offices in our colleges and thereby facilitate greater take-up of IP and innovation by the industry base in Ireland.
On May 29th, I launched a fund of €30 million to strengthen and build a stronger and more professional Technology Transfer function within Higher Education Institutions in Ireland. This funding, which will be provided through EI, should ensure that better economic returns are gained from R & D investment through the development of better systems, procedures and expertise in Technology Transfer Offices. EI issued the first call for proposals under this Scheme in June 2006 with a closing date at the end of this month and the first awards will be announced later this year.”
Martin said that that “Excellence is what this is all about and we have already embarked on this journey towards excellence and I want to take this opportunity now to exhort you, the stakeholders, to drive this challenge. This Strategy is about more than government, it requires a concerted and focused effort across the whole national system of innovation. That is why we are here today. We are all part of this continually evolving endeavour, to advance Ireland’s knowledge economy, an economy with world-class people and enterprises, such as this one here at Wyeth, with the drive, the commitment and the resources to succeed. I invite you to join me in delivering on that vision.
The Minister was joined on the platform by Dr. Reg Shaw, Managing Director of Wyeth, Mary Cryan, Chair of the Advisory Science Council, which represents stakeholders, and by Professor Ferdinand Von Prondzynski, President of DCU, representing the Irish Universities Association, IUA.
© Copyright 2007 by Finfacts.com
Top of Page
|
