ACADEMIC RESEARCHERS are to face scrutiny from international venture capitalists, entrepreneurs and company directors, as part of a major overhaul of how scientific research is funded by the State.

The changes are outlined by Prof Mark Ferguson, the newly appointed director general of Science Foundation Ireland, in an interview today with The Irish Times.

Under the proposals, academic researchers will be required to provide an impact statement in their applications for funding, alongside the traditional research proposal.

Prof Ferguson, appointed director general in January, said the new proposals were part of the agency’s focus on ensuring scientific research has “impact and relevance”. Science Foundation Ireland is one of the main funders of scientific research in the State, distributing about €150 million to 3,000 researchers annually.

While applicants for funding will still be required to submit a rigorous academic research proposal which is internationally peer-reviewed, they will be required to write an impact statement.

“This will also be internationally peer-reviewed, but by a panel of venture capitalists, entrepreneurs, and R&D directors from major companies,” Prof Ferguson said.

“We already have excellence in academic and scientific research; we are now trying to get increased economic and societal impact from that research excellence.”

Science Foundation Ireland is the main agency responsible for funding third-level research in the fields of biotechnology, information and communications technology and sustainable energy and energy-efficient technology. It employs 40 people.