500 job target set by Irish research centre

A leading Irish research centre has put job creation at the top of its strategic plan along with the opening of spin-out companies and attracting non-exchequer research funding.

The Tyndall National Institute in Cork will also announce this morning a memorandum of understanding with Irish-based company PCH International to support the creation of new high-tech start-up companies in Ireland that can target global markets.

The institute hopes to create at least 500 jobs over the five years covered by its new strategic plan which covers 2013 through 2018. It has also set a target of attracting €20 million in non-State research support each year during the life of the plan.

Tyndall specialises in research into information and computer technology, particularly the development of new materials and advanced electronics. It plans to expand this remit by joining with other sectors including agriculture, health, medical devices and other areas to bring the "smart" technology inherent in ICT to others that can benefit from it, said its chief executive officer Dr Kieran Drain ahead of the launch in Dublin.

Research activity
The institute has about 460 researchers and has links with 200 industrial partners. It brings in research funding worth about €30 million a year, 85 per cent of which is contracted research activity.

It plans to use its research expertise and private sector connections to encourage the formation of more start-up companies in the technology area.

It has linked with PCH International, a private company headquartered here that supports product development and provides management services.