€56m to develop ‘smart economy’

A €56 MILLION Government investment aimed at developing Ireland’s smart economy will see Cork’s Tyndall Institute play a role.

The Government moved ahead with the opening of competence centres at the country’s universities where firms will work together on research projects.

Tánaiste Mary Coughlan said the move means a departure from the traditional approach to R&D in favour of a collaborative system where firms that might ordinarily be competitors agree to share knowledge, risk and the rewards of pooling their research resources.