Minister Martin announces Enterprise Ireland fund of ¤30m to strengthen Technology Transfer offices
Minister for Enterprise, Trade and Employment, Micheál Martin T.D., today (Monday 29th May 2006) announced the provision of a new ¤30m fund designed to build a stronger and more professional Technology Transfer function within Higher Education Institutions in Ireland. The funding, which will be provided through Enterprise Ireland, will ensure better economic returns will be gained from R & D investment, through the development of better systems, procedures and expertise in Technology Transfer Offices.
Making the announcement, Minister Martin said “Over recent years the State has committed very significant investment into Higher Education R & D through various Government Departments and State agencies. This R & D investment will have a major impact on the development of Ireland’s skill base and is essential to driving the economy forward. It also has the potential to make a more direct economic impact through the commercialisation of research results that have real market potential. This will only be achieved if new technology is transferred effectively from the higher education sector to industry, either through the creation of new start-up companies or through the introduction of new products and processes into existing industry.
“Technology transfer must become the expected “3rd stream” of legitimate activity for researchers across the innovation system and the Higher Education Institutes themselves. This will require a radical change in systems, procedures, culture and skills. Following the announcement today, higher education institutions, with significant research activity, will be invited to apply through competitive tender, for support to hire skilled people with expertise and experience, particularly industrial experience, in technology transfer, licensing and relevant aspects of business development and their associated costs. The funding will ensure that Technology Transfer Offices in research performing institutions will be strengthened to form the backbone of the national commercialisation infrastructure”, Minister Martin said.
Frank Ryan, CEO of Enterprise Ireland said “Increasing the transfer of R & D from higher education institutions to industry is a key element of Enterprise Ireland’s Strategy Transforming Irish Industry. There are already strong established relationships between Technology Transfer Offices and Enterprise Ireland. It is envisaged that Technology Transfer Offices will continue to work in partnership with Enterprise Ireland in the promotion and commercialisation of funded research and resultant technologies. Enterprise Ireland’s role will be to support the rapid development of the technology transfer function in the colleges, to be a source of very specialist skills and to operate across colleges to bring added value to their efforts. We will use our position to capitalise on our close relationships to the industrial, service and international sectors to add significant value and leverage to the Technology Transfer offices”.
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Notes to editors
- The call for proposals will be open to single institutions or to collaborations between institutions. In order to be eligible applicants must have a significant flow of research funds, and demonstrate that the addition of resources will lead to a radical enhancement of the Intellectual Property protection, transfer of technology and technology commercialisation arising from research.
- A significant level of research is carried on within the hospitals affiliated to Universities. Universities and their affiliated hospitals will be encouraged to develop joint proposals which ensure effective and active technology transfer out of the hospital research base into industry in Ireland.
- Technology Transfer is taken to mean the formal transfer of rights to use and commercialise discoveries and innovations resulting from scientific research to another party.
- Commercialisation brings wide-ranging benefits to the economy as a whole:
- To the institution, Technology Transfer gives the academic community the opportunity to have a positive impact on the marketplace. As well as an economic role, Technology Transfer can enrich training, provide a basis to develop and deepen industrial linkages and collaborations and increase an institutions’ profile;
- To the industrial community, technology transfer gives the private, for-profit sector the means to tap the very significant world of new discovery found in the academic laboratory, a process that should also have a positive influence on research strategies within institutions; and
- To the economy as a whole, investment in high quality research can bring tangible benefits above and beyond the supply of quality graduates and post graduates.
ENDS
Last modified: 29/05/2006
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