Matt Shanahan (Waterford, Independent) | Oireachtas source

I thank our guests. On scale, and I am not sure if this is being done already or if there are plans to do so, I refer to providing a kind of driver's manual of how to set up a company. Many SMEs take the approach where they first set up a small limited company. Down the line then, the way the company is incorporated becomes a barrier to trying to sort out bringing in additional investment. I refer to the employment and investment incentive scheme, EIIS, and whether this aspect is being examined and if there is a dashboard for it. This advice is needed by early-stage companies.

Regarding companies in a position where they have intellectual property, IP, generated, the best way to try to protect it may be patenting. The problem they run into here very early on is that the patent costs start to get legs. It is hard sometimes because if the patents are very robust, investors may decide to get in and seek ownership of them as security for putting in investment funds. How companies should be supported in this context should be examined. My experience is that the patent costs especially are seen as a kind of a dirty cost in terms of a business and nobody wants to pay for them. However, they are part of IP protection.

I am aware of the projects the witnesses from ISIF referred to in Waterford. We are very grateful for where this may lead us. Hopefully, ISIF will stay well engaged and active in this regard. On the planned offshore wind development signalled to be developed off the south coast, and especially that off the coast of County Waterford and east Cork, does the ISIF have plans to intersect with some of the businesses that might have to provide services and infrastructure? Is this aspect being explored? Does it have any plans in respect of trying to provide roadmaps as to how we might use the excess electricity that may be generated? I refer in particular to a hydrogen strategy.