A new €30 million fund is being made available to encourage stronger and more professional technology transfer functions within higher education institutions.
The fund is part of a drive to generate better economic benefit from research and development in higher education institutes through the increased commercial application of its outcome.
Institutions with significant research activity are to be invited to apply for support to hire people with expertise and experience, particularly industrial experience, in technology transfer, licensing, relevant aspects of business development, and their associated costs.
"The funding will ensure that technology transfer offices in research-performing institutions will be strengthened to form the backbone of the national commercialisation infrastructure," said the Minister for Enterprise, Trade and Employment, Micheál Martin.
The funding is to be provided through Enterprise Ireland. Collaborations and university-affiliated hospital applications are to be encouraged.
Mr Martin said the significant State expenditure of recent years in higher education R&D would have a major impact on the development of Ireland's skills base.
"It also has the potential to make a more direct economic impact through the commercialisation of research results that have real market potential.
"This will only be achieved if new technology is transferred effectively from the higher education sector to industry, either through the creation of new start-up companies or through the introduction of new products and processes into existing industry."
Increased technology transfer would require a radical change in systems, procedures, culture and skills, he said.
The chief executive of Enterprise Ireland, Frank Ryan, said increasing the transfer of R&D from higher education institutions to industry was a key element of Enterprise Ireland's strategy.
"It is envisaged that technology transfer offices will continue to work in partnership with Enterprise Ireland in the promotion and commercialisation of funded research and resultant technologies," Mr Ryan said.
