WIT to review arrangements relating to spin-off research firms

A review is being undertaken by Waterford Institute of Technology (WIT) into arrangements relating to spin-off research companies based there.

The situation was outlined at the Dáil Public Accounts Committee, which heard that the Department of Education expects to hear shortly about the findings.

Sinn Féin TD David Cullinane raised the issue and asked if it is appropriate that the college received just €1.3m of the €64m sale price of a company co-located at WIT.