Ireland Launches $681 Million Technology Initiative

Last week, Mary Harney, Ireland’s Deputy Prime Minister and Minister for Enterprise, Trade and Employment, announced the establishment of a £560m ($681M U.S.) Technology Foresight Fund to establish Ireland as a location for world class research excellence in niche areas within biotechnology and information and communication technologies. According to Reuters’ reports, funding for the new initiative will be spread over seven years. The Technology Foresight Fund — the country’s single largest investment ever for research, technological development and innovation — was conceived and designed by the Irish Council for Science, Technology, and Innovation (ICSTI), a publicly created organization to advise the Irish government on the strategic direction of science, technology and innovation policy. Separate Task Force panels or subcommittees investigated technology development issues in eight industrial sectors: natural resources; chemicals/pharmaceuticals; health and life sciences; information and communications technology; materials and manufacturing; transport and logistics; construction/infrastructure; and energy. From the panels’ findings, the Task Force advanced several recommendations for consideration by the Ministry of Science, Technology and Commerce. The culmination was the decision for the Technology Foresight Fund to focus its activities on biotechnology and information and communication technologies — sectors identified to hold significant potential for Ireland as it moved to a technology-oriented economy. A new research foundation will be established to evaluate research projects and to manage and allocate funding from the Technology Foresight Fund. The foundation’s objective will be to create a critical mass of world-class research within the biotech and information technology niche areas to be identified by the foundation. The new research foundation, to be established over the next three months, will support researchers in Ireland’s colleges and research institutes through competitive international peer reviewed solicitations. In addition, the foundation will have the authority to established its own laboratories, if necessary, to secure world class performance. More information on the Technology Foresight Fund can be found at: http://www.entemp.ie/pressrel/080300.htm