Ireland’s 13 institutes of technology have collectively spent €273 million on research and development over the past five years, according to a new report published today.
The 2009 Institutes of Technology Research and Innovation Yearbook shows that investment in research, development and innovation by insitututes has risen from €18 million to €62 million per year since 2004.
The report also shows and a considerable escalation in the number of peer-reviewed academic publications, generation of intellectual property and successful patent applications.
A total of 68 patents have been granted to incubation centre companies and research groups over the past five years. During this time, the institutes of technology have supported over 850 entrepreneurs in developing start-up enterprises and undertaken over 300 collaborative research projects with industry.
In addition, €38 million was invested to establish incubation centres on institute campuses through Enterprise Ireland’s Campus Incubation Programme.
These 14 centres are currently host to 249 indigenous companies, of which 52 are identified by Enterprise Ireland as high performance start-ups.
"The figures in the yearbook clearly show that State investment in research and innovation in the institutes of technology is delivering results that benefit both the economy and society
as a whole," said Institutes of TechnoIogy Ireland (IOTI) director of research Dr Richard Thorn.
"The enhanced research capacity in the institutes has been of critical importance in translating knowledge and technology into jobs. The institutes are producing the graduates and post-graduates who are equipped to lead our economy on its path to recovery,” he added.
