David Cullinane (Waterford, Sinn Fein) | Oireachtas source

I have a couple of questions that follow on from my previous questions. I just did not get through all of the report. I also have a number of observations on responses that were given.

An Teachta O'Connell made a number of points earlier that I do not agree with, which shows that members have different opinions in this area. I remember when we first examined this, we were told by some in this sector of spin-outs and that we did not understand. We do and I am clear that commercialising IP is good. Others might have a different opinion and the interests of the State and the institute have to be protected but the concept is good. It is not morally or ethically wrong for anybody in an institute to have a shareholding in a company. If someone is a vice president for research, it is probably best not to be a shareholder because I would see that as protecting the individual, the office and the institute. If I was developing policy I would probably have that as a requirement because if one is the office holder of the policy, which Dr. Donnelly is, it is better not to be involved. I do not cast any judgment on Dr. Donnelly but that is my opinion of how it should work. In many respects, the glass is half full because we have had the report from KTI-HEA and recommendations have been made on foot of us and the Comptroller and Auditor General examining this issue and improvements have been made. All of this is not about making sure that we have exchanges such as this; it is about making sure that policies are robust and that they protect the third level institutions and the taxpayer. That is what we want and that is what the Comptroller and Auditor General considers when he examines process.

On the jobs that are created, everybody accepts that jobs were created as a consequence of this spin-out and others. That does not justify any weaknesses in the system. We are not here to make judgments on how many jobs are created. We can accept that. We are here to look at how we can improve weaknesses where they are present and to accept learnings. It is good that WIT has accepted all of the Comptroller and Auditor General's recommendations and that they are being implemented. Let us collectively mark that down as an achievement and then I will go on to some of my other questions.

Dr. Donnelly and I were not having a disagreement but there were questions around what the institute received. There is a breakdown of when the company was sold in section 4.1 of the Comptroller and Auditor General's report. The Comptroller and Auditor General was given this breakdown. Dr. Donnelly's view was that we need to be careful that we do not put inaccurate information into the public domain and I certainly would not want to find myself in that position. The Comptroller and Auditor General is saying that when the company was sold, the institute received €1.59 million. Is that correct?