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Bruton announces €55million in R&D initiatives

Enterprise Minister Richard Bruton today announced €55million in initiatives aimed at commercialising R&D and turning ideas into businesses which create jobs.

The Minister announced five initiatives as part of his speech to the Irish Internet Association's annual conference. Included in the initiatives are:

  • A €5million applied research centre in cloud computing
  • A €6million research centre in energy/smart grid
  • €44million in funding for Principal Investigator research teams in life sciences, ICT and energy
  • Funding and supports for 25% more high-growth and high-potential start-up companies

The Minister's full speech can be viewed below...

Speaking today the Minister said...

If we are to develop the companies of the future in Ireland, we must not only fund high-tech research in our universities and support high potential start-up companies, but also crucially address the gap in between the two -commercialisation. The Programme for Government commits to addressing that

gap in order to develop ideas into workable businesses so as to create the jobs of the future and get the economy growing again. Applied research centres and principal investigator teams are highly advanced models which partner researchers with both universities and industry partners, to ensure that commercialisation can happen.

The Minister also commented on the investment in cloud computing...

In particular, cloud computing is an area which the Programme for Government identified as a key priority. According to a recent report by Microsoft, Ireland’s cloud computing industry could be worth €9.5billion per annum and employ 8,600 people by 2014. The new applied research centre announced today, which will connect both multinationals and Irish enterprises with researchers, can see Ireland

take the lead in this crucial high growth area.

The full press release can be read here and includes an appendix with details on the measures announced.

The Minister also did a doorstep interview with journalists and the soundfile can be heard below.