More to academic research than bottom-line returns The Irish Times Mon Jan 11 2010
INNOVATION: IN THE IRISH Times last Monday, the case for increased investment into IP commercialisation was argued. Although there is significant merit in the development of a more strategic approach to research investment, with funding to be provided for the commercialisation of intellectual property, the return from university research needs to be assessed by what it delivers to the country and the economy.
The specific example of Trinity College Dublin (TCD) was highlighted where a research budget of €71 million in 2008 was compared with royalty income of €130,000. While recognising that this is a proxy example for the sector as a whole it fails to articulate the multifaceted return to Ireland of investment into university research.
At a time of unprecedented financial constraints for Government funding it is vital that the return on research investment to the State is properly analysed and understood.