Broadly positive response from key business groups

STAKEHOLDERS' REACTION:THERE WAS a broadly positive reaction from business representative groups, third-level institutions and other relevant stakeholders to the Innovation Taskforce report published yesterday.

The American Chamber of Commerce said the report demonstrated a recognition by the Government that Ireland will need a “step change” in its programmes and policies in order to secure future prosperity. Mike Devane, head of the American Chamber Research Development group, said that in today’s global trading environment, intense competition means Ireland needs to look to new areas of innovation and added value to generate and sustain economic success. “Ireland needs to continue to offer something distinctive,” he said.

Business group Ibec welcomed the report, particularly the commitment to public investment in research. Director Danny McCoy noted such a policy was successfully pursued by Finland in the early 1990s.

Although broadly positive, Irish Taxation Institute president Olivia Lynch said the key tax proposals “must be acted on quickly”. She said Ireland needs to improve the reliefs around tangible assets if it is serious about marketing itself as a global IP centre.

Implementation of the report was stressed by Engineers Ireland. Director general John Power said the Government needed to act immediately on the recommendation that maths education be a top priority. “It is paramount this is not another report that is brushed aside,” he said.

The report received a warm welcome from the TCD/UCD innovation alliance, a research partnership between the two universities launched last year. In a joint statement, TCD provost Dr John Hegarty and UCD president Dr Hugh Brady said it “provides a clear and decisive framework within which the goals of the Innovation Alliance between the two universities can be realised”. The universities announced a €2 million innovation fund which will fund interdisciplinary PhD studentships and postdoctoral awards.

The proposal to increase investment in broadband was welcomed by e|net, the firm which manages and maintains the country’s Metropolitan Area Network (MAN) broadband programme. The firm called for further significant capital investment to upgrade Ireland’s broadband network.

The Arts Council said the report underscored how the arts can be used to drive jobs in the digital economy and creative industries. The council highlighted in particular the success of the video games and online gaming industries.