Mary Coughlan (Donegal South West, Fianna Fail)

I agree that we want to achieve a situation where we can take a thought process and commercialise it. We can do this through indigenous companies, which have done very well. Last year there were 70 HPSUs and the target is for another 70 next year through Enterprise Ireland and its supports. The innovation task force will come to the Taoiseach fairly soon and that will examine new ways in which we can develop innovative ways to support research and development. The tax credit is of great importance. The development of intellectual property in this country is new and different. In the context of tax policy we are working on refocusing our offerings for foreign direct investment or for indigenous companies. The clear message is that if we work towards economic growth and potential thereof, the collaborative work between third level institutes, those involved in business and the Government is of great importance. Science Foundation Ireland is looking at new innovative ways in which this can be expanded. We need a matrix, to see where the spend is and whether it will provide jobs. It is fine to spend the money but if we are not in a position to analyse its worth, we would be failing in our duty. The matrices are being set down on that basis. Any information available will be given to the Deputy.

See this speech in context