Oireachtas Joint and Select Committees

Thursday, 24 May 2018

Public Accounts Committee

Financial Statements 2016: Higher Education Authority, University College Cork and Cork Institute of Technology

9:00 am

Photo of Catherine ConnollyCatherine Connolly (Galway West, Independent) | Oireachtas source

Yes, there is a disclosure to tell us what it was sold for. However, in the context of what came back and what was sold in the first place, it was set up with 100% of public moneys under the Tyndall National Institute. The intellectual property - whatever that is - is developed and then it is sold on. We are then told it is a marvellous story, there was this return and 100 jobs. I do not know. I am concerned that public institutions throughout the country are being used in a particular way. Then I see that UCC also got the most money from research and development. It was €10 million. Was that in one year?

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