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.