Protocol to promote private R&D funding

 

THE GOVERNMENT has announced a new protocol for intellectual property to make it easier to commercialise the results of publicly funded research and development (R&D).

Minister for Jobs, Enterprise and Innovation Richard Bruton, announcing the new structures yesterday, said they would encourage more businesses to commercialise R&D. This would ultimately create jobs from ideas developed through publicly funded research, which currently receives funding of €800 million per year, he said.

Mr Bruton’s department will set up a central technology transfer office. It will be hosted by Enterprise Ireland at its headquarters in East Point, Dublin, and the post of chief executive will be advertised in the near future.

The office will liaise with the 10 technology transfer offices that exist at present in third-level institutions, “ensuring consistency” on national IP policy. However, these offices will remain free to do deals with commercial partners.

The Government said “generous commercial terms” would encourage businesses in the private sector to engage.