Staff with PhDs 'good for business'

Irish R&D firms which employ PhD researchers have rates of patenting which are 2.5 times that of other companies, according to a new study.

The report from the Advisory Council for Science, Technology and Innovation (Acsti), also reveals that those firms with staff who have PhDs also have higher collaboration rates with higher education institutes and othercompanies.

The Role of PhDs in the Smart Economy study shows that while only 29 per cent of R&D firms employed PhD researchers in 2007, these companies accounted for 70 per cent of business expenditure on research and development.

Launching the report earlier today, M inister for Science, Technology and Innovation Conor Lenihan said the study's findings were timely given the situation the country finds itself in.

" A supply of PhD qualified researchers with skills closely aligned to broader economic and social needs will best position Ireland to take advantage of the global upturn,” he said.

The full report can be downloaded from the Advisory Science Council website, www.sciencecouncil.ie