Professor Willie Donnelly:

Ireland is an open economy. We are an economy that relies on the flow of talent and knowledge into the country and the flow of goods and services out of the country. Our economic well-being and our ability even to discuss how much we will invest in research and in social development are a function of our ability to be a leading economic driver in Europe. What I mean by this is that technology by its nature is disruptive. Technology will have major impacts on the economy and how the economy evolves. We, in our commitment to research and innovation, must be at the forefront of innovation, new ideas, new products and new services so that we remain a location of choice not only for multinational companies but also for our own industries. Innovation is at the heart of how we sustain our economy. One of the areas, but not the only area, in which the new agency must focus investment is creating a graduate community of innovators who can go into industry, contribute to industry and drive the economy.