Filling empty premises

TAOISEACH Brian Cowen is keen to establish Ireland as a hub of innovation and is investing €5 billion to that end.

Innovation is defined as “a new method, idea or product”, but too often the prospect of turning an innovation into a profitable reality is daunting.

One simple and cost-effective way of fostering a spirit of innovation in the SME sector in Ireland might be for the state to take over a handful of the premises vacated by failed businesses and offer them at low rents to would-be entrepreneurs and innovators for short-term leases. The benefits include fostering a spirit of innovation, reducing entry-to-market risks, showcasing enterprise ideas to would-be investors and increased footfall to an area.