Oireachtas Joint and Select Committees

Thursday, 6 April 2017

Public Accounts Committee

2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014

9:00 am

Professor Willie Donnelly:

The process of bringing software to the market requires the development of the market and development of the product, which requires investment. Investment was sought. The initial investment was €500,000 and at that stage the IP was assigned to the company, which was an independent private company. It sought then to get funding to allow for the development of the software. The company needed to employ people and to continue to develop the software and to develop markets.

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