Oireachtas Joint and Select Committees
Thursday, 24 January 2019
Public Accounts Committee
Special Report No. 104 of the Comptroller and Auditor General: Waterford Institute of Technology - Development and Disposal of Intellectual Property in FeedHenry
9:00 am
Professor Willie Donnelly:
The company spun out. We need to be careful. There was huge investment in the company between the time it spun out and the time it was sold. In ordere that people do not become confused, it was not the case that IP produced in the college was worth €63 million; not in the least. The actual valuation of the IP spun out from the institute at the time was determined by auditors to be €240,000.
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