Innovation can spark 120,000 jobs, report says
10th March 2010
If Ireland revamps itself into a centre of innovation, the result can be some 120,000 new jobs, says a report from the Government's Innovation Taskforce to be published tomorrow.
The final draft report says “we need a sea change in attitudes – in public and private sectors – towards innovation and entrepreneurship, to recognise that they involve risk, and occasionally result in failure”.
Highlights of the Government's Innovation Taskforce report
The report:
- Supports the introduction of bonus CAO points for maths in the Leaving Cert, to increase student interest.
- Proposes major investment in upgrading broadband capability (but makes no proposal on new capital funding in this area).
- Supports having changes made to bankruptcy laws.
- Commits the Government to investing at least 3pc of gross domestic product in research and development until 2020.
- Envisages senior civil servants taking placements in major companies in order to gain practical experience of business.
- Backs further collaboration between third-level colleges, such as the TCD-UCD Innovation Alliance and the NUI Galway-University of Limerick Strategic Alliance.
- Indicates support for student tuition charges saying, “we must develop sufficient revenue streams to sustain excellence in our third level colleges.”
- Seeks the establishment of a new national intellectual property (IP) protocol. Firms and entrepreneurs need to find and access IP created in universities to turn it into products and services that fulfil customer demand.
- Seeks new actions to develop and market Ireland as an International Innovation Services Centre offering global IP management, licensing and trading services.
- Calls for transformation in the scale and nature of the Irish venture capital environment by attracting top-tier venture financing to Ireland so as to successfully scale innovative companies.
- Ireland branding itself as an innovation hub through attracting the European headquarters of private US companies via a European accelerator programme.
- Recommends that the current Strategy for Science, Technology and Innovation (SSTI) 2006-13 should continue until 2020.
Photo: Ireland, as a centre of innovation, can create up to 120,000 jobs, a report by the Government's Innovation Taskforce says
