Speech by Minister John McGuinness at the FUSION Graduation Ceremony

18^th September 2008

Ladies and Gentlemen, I am delighted to be here today in UCD to celebrate the graduation of so many high calibre graduands from the FUSION programme.

The development of the all-island economy is a priority for my Department, which supports actions to enhance North/South economic co-operation and co-sponsors InterTrade Ireland, the all-island Trade and Business Development Body.

InterTradeIreland was established in 1999 as a result of the Good Friday Agreement, 1998. Its role is to enhance the global competitiveness of companies North and South to mutual benefit. Its programmes and activities are unique in that they are implemented across the two jurisdictions on an all-island basis.

The FUSION programme supports the development of businesses on the island of Ireland by transferring and embedding knowledge on a cross-border basis between industry and academia. It is the only all-island industry-academia initiative of its type.

The FUSION programme develops and supports 3-way partnerships and projects between Companies, Academia and Graduands. Partnerships are driven by company need. Within each 3-way partnership, the partners work collectively to develop and implement a solution to a technology need within the company.

Companies are getting the benefit of working with academics that may hold the key to unlocking the company’s true business potential. Academics are getting the opportunity to translate their work to real world business settings, where their theories can be tested in order to generate new ideas. I welcome that level of co-operation, and understand that every single company participating in the programme has indicated a desire to continue with formal innovation activity as part of their forward plans.

The graduands here today have been employed by those progressive companies, contributing to their research and development activities. They have worked with and learned from the leading academics in their fields, and have served as links between the academics and the companies.

These graduands have put their academic training to good use. Faced with various business challenges, they have found solutions through carrying out original research and development. They have not only achieved practical results for their employers but have also undertaken a Post Graduate Diploma in Management Practice through the FUSION programme. Well done to each one of you.

I am also very pleased to note the geographic diversity of the companies that have participated in FUSION projects this year. From Belfast to Kilkenny, Fermanagh to Galway FUSION raises the profile of entrepreneurial activities in all the communities where it is located, and creates productive networks of businesses and research centres.

I believe that the InterTradeIreland FUSION programme is helping us to meet many of our shared objectives. As the island of Ireland faces what may be difficult economic times, we must remain committed to a knowledge economy. But the knowledge economy is not just a slogan. It requires even closer co-operation between academic and research institutions and the private enterprises with the ability to commercialise new technology. In the 21^st century, the knowledge economy can deliver sustained economic growth and high quality jobs.

The FUSION programme facilitates this knowledge economy and ensures that its benefits are shared across the island of Ireland. The lasting partnerships formed through FUSION create opportunities to further ensure that knowledge and research can consistently be applied in commercial environments in order to increase productivity and efficiency at Irish companies, North and South.

I congratulate this year’s InterTradeIreland FUSION graduands. Their hard work and expertise has benefited their affiliated companies and academic institutions. I am conscious of how their efforts also help the economy on the island of Ireland. I know that they, and future FUSION participants, will continue the free flow and exchange of scientific ideas and business expertise, ensuring that Ireland’s economic success continues into the future.

Thank you very much for inviting me to be part of the celebrations here today.