Irish SMEs ‘must strive to become innovation leaders’

Ireland received a clear warning that it must spend more on research and its SMEs must be much more progressive if it is to create the kind of jobs and growth needed to emerge from the crisis.

The country kept its place as having the tenth most innovative environment for business in the EU according to the score card released by Commissioner Máire Geoghegan-Quinn.

But its performance in the different areas were erratic. It was in the top three in human resources and employment in knowledge-intensive activities, but floundered in the bottom third for public sector spending on research and development, access to venture capital and having progressive SMEs.