Ireland's research and development spend 'tiny'

IRELAND'S research and development (R&D) spend is tiny in comparison to other countries, the IMI Management Conference was told over the weekend.

IMI chairman Dr Chris Horn pointed out that the Government has earmarked approximately €3 billion for R&D out of a €52 billion five-year national development plan to 2006 using a combination of public and private funding.

However, he said the world wide research and development spend for 2004 alone was roughly €500bn.

Dr Horn, who is chief executive of Iona Technologies, asked how can Ireland's €3bn over five years really make a significant impact against €500bn in a single year of global R&D? Can €3bn in R&D build sustainable economic growth for Ireland, he asked.

Dr Horn said Ireland must stick to its strengths, invest in specialist technology areas for which the country already has competence and a track record.

"We are investing in R&D where we believe Ireland already has channels in place to bring commercial results to a global market.

"But allow me to argue that there is a further clear opportunity for us all as much R&D world wide is inefficient, with duplication and repetition, lack of focus, poor stewardship of people and ineffective leadership."

Dr Horn believes that efficient and professional management can greatly multiply the effect of Ireland's €3 billion R&D spend.

He said Ireland's €3bn national investment to 2006 could be worth considerably more if the country strives to build a world standard for R&D investment.

Dr Horn said Ireland was at a crossroads and that decisions taken now would impact on our success as a nation in the future.