Welcome to the Finfacts Blog

Monday, March 15, 2010

Irish Innovation Taskforce report

Taoiseach Brian Cowen launched the report of the Innovation Taskforce, in the Science Gallery, Trinity College Dublin on Thursday, March 11, 2010. Picture shows (l to r) Aisling Miller and Irene Mencke as they show the Taoiseach a DNA sample, the two students are Post Grad Science students.

Irish Innovation Taskforce report It may seem strange that the same people who believed that the property bubble had brought Ireland a permanent free lunch,  have now bought into the fairytale that investment in innovation could create up to 215,000 net new jobs by 2010.

After 50  years, the total jobs supported by the State inward investment agency, IDA  Ireland,  may fall to the 1998 level of 118,000 in 2100.   So Brian Cowen, the Minister for Finance during the high point of the property bubble, has got his fairytale marketing brochure and in years to come, we will read of public money being flushed down new sinkholes even more than was wasted during the boom on IT projects and overpriced construction projects.

Anyone wonder why a real knowledge economy like Denmark could implement a broadband system with the best coverage in the world  while despite truckloads of money, we could only limp?

A start-up requiring finance wouldn’t have a chance by producing a business plan replete with just aspirations and pious hopes; no  SWOT (strengths, weaknesses, opportunities, threats) analysis or detail on the markets for the products and competitors.

However, the public policy document does not meet these minimum requirements.

Ireland and leadership at a time of crisis


Innovation Ireland Taskforce's aspirational report; US banks / credit-card companies contribute most money for start-ups - - not venture capital companies



Innovation Taskforce Report


Taoiseach launches Innovation Ireland Taskforce report; Says important marketing message for Ministers to carry abroad for St. Patrick's Day


Innovation Ireland Taskforce: Yet another 120,000 jobs plucked from the air by insiders?; In UK 2,900 high-tech companies in business since 1991 have only 40,000 jobs


Spin cannot hide lack of new thinking on jobs
 - - Irish Times article by Michael Hennigan 

IDA Ireland Horizon 2020 Strategy: Lack of coherence on changes facing existing Irish-based multinationals/ challenges of adapting model for China and India - - Prof. Seamus Grimes


Irish Economy blog threads:

More on the Innovation Taskforce

Innovation Taskforce Report Released


Hennigan on the IDA Strategy