David Cullinane (Waterford, Sinn Fein) | Oireachtas source

I am saying this to you, a Chathaoirligh. The president has told us he was a shareholder in a number of companies - three companies or possibly four. These were spin-out companies or private companies co-located in the institute. Some, if not all, of these companies received various forms of grants from the State or the European Union. One of those companies was sold for very significant money and the president would have financially benefited from that. I am not alleging that was wrong; I am just saying, as a matter of fact, that is what happened.

He was also the policy owner. He was sitting on the commercialisation committee. The commercialisation committee always reported back to the president. The policy states that all conflicts of interest have to be declared; we can assume that they were.