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A €500m innovation fund to help medium-sized Irish hi-tech
and green companies 'scale up' to become multinationals
will be launched shortly.
The Irish Independent has learned that several foreign
investors have told the Government that they are willing to
invest matching resources in venture capital for fast growing
Irish hi-tech companies.
The report of the Task
Force on Innovation is in the final stages of preparation
and the intention is to bring it to the Government shortly
and release it in time for the key messages to be carried
around the world on St Patrick's Day. Ministers will be told
to get the message across that Ireland is 'open for business'.
The taskforce was set up to see how Ireland can increase
levels of innovation and boost the commercial return from
investment in research. It will put forward specific recommendations
on venture funding for mid-size companies in both the hi-tech
and green-tech areas to assist them to grow faster.
Much attention will be given to structures and links between
institutions in the public and private sectors. Practical
measures will be proposed to boost the TCD/UCD Innovation
Alliance and similar initiatives.
It is also understood that the forthcoming report will stress
the importance of PhD students becoming more familiar with
the commercialisation prospects of their research, suggesting
this should be built in to their studies.
The aim is to ensure that individuals have the skills required
for the workplace - and, in particular, for the workplace
outside higher education.
Source - The Irish Independent
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