Tyndall’s income drops nearly 5%

The UCC-affiliated Tyndall National Institute saw income slip by almost 5%, last year.

The institute’s newly published annual report for 2013, shows a dip in annual income from €32.2m to just under €30.7m.

The centre’s annual grant from Government dipped from just shy of €3.8m in 2012 to €2.9m last year. Income from research was down marginally, at just under €25.7m and UCC’s funding contribution was pretty much flat at a little over €2.1m.

Tyndall — jointly established by UCC, the Department of Jobs, Enterprise and Innovation and Science Foundation Ireland — celebrates its 10th anniversary this year and has grown into one of the leading research centres in Europe, specialising in ICT hardware research, commercialisation of technology and the education of next-generation researchers.

Under new chief executive, Kieran Drain, the institute’s management has put in place a five-year strategic plan aimed at setting out a clear strategy to derive economic impact from research excellence.

“The plan is focused on generating employment and building capacity within the technology space across Ireland,” Mr Drain said in the report. He added that the institute was “actively engaged in recruiting for key new leadership positions”.

Mr Drain added that the first year of the new five-year plan had provided real progress.

“As well as making a number of structural and organisational improvements, we have seen significant advances in all our core research areas,” he said.

According to chairman, Dr Alastair Glass, Tyndall is increasing its focus on new ICT-led research opportunities for the med-tech sector and is becoming an important contributor in attracting new foreign direct investment via the sector. Last year saw Tyndall’s expenditure fall by nearly €2m to €30.6m, with remuneration costs stable at just over €17m. But spend on equipment and infrastructure was down by nearly €4m at €2.9m. In May, Tyndall and Cork Institute of Technology renewed their research partnership, which has already won €75m in funding for nearly 300 projects.

The partnership is playing a major role in the Government’s target of winning €1.2bn worth of funding from the EU’s €70bn Horizon 2020 R&D initiative.

More in this section

Lunchtime News Wrap

A lunchtime summary of content highlights on the Irish Examiner website. Delivered at 1pm each day.

Sign up
Revoiced
Newsletter

Our Covid-free newsletter brings together some of the best bits from irishexaminer.com, as chosen by our editor, direct to your inbox every Monday.

Sign up