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

Photo of David CullinaneDavid Cullinane (Waterford, Sinn Fein) | Oireachtas source

I wish to make a point if Deputy Connolly will allow it. There is a bit of talking around the issue because with respect to Dr. Love, no one is disagreeing with the merits of commercialising intellectual property. Nobody is disagreeing with the fact that it creates jobs and we all need jobs. We had this conversation earlier. Dr. Love has spoken about what is usual and what is normal. I put it to Dr. Love, rather than anyone in WIT, I do not know of any other institute in the State in which the person who is the policy owner, the head of research and innovation and a vice president had a shareholding in multiple companies. I do not know of any institution in the State where the president of the institute is still a shareholder in companies co-located in the institute. When someone is head of research and innovation, they hold a well-paid job and a demanding role. They should have to make a choice between the management, executive and oversight role and innovation. If they want to go into the innovation space, by all means they should go into the innovation space. While Dr. Love is talking about what is usual and unusual, it seems to me that it is unusual for a person who has a role in respect of governance, oversight and management of intellectual property also to be a shareholder.

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