UL welcomes Innovation 2020 committing to R&D increase to 2.5% GNP

Innovation 2020

Actions across talent development, STEM and entrepreneurship education and R&D expenditure highlighted as vital to Ireland becoming a global innovation leader.

The University of Limerick welcomes Ireland’s Strategy for Research and Development, Science and Technology - Innovation 2020 which was today (8th December) launched by the Minister for Skills, Research, Innovation Damien English TD, together with the Taoiseach and the Minister for Jobs.

University of Limerick, Vice President Research, Dr Mary Shire said: “We very much welcome the vision of Innovation 2020 which aims to position Ireland as a global innovation leader. This is reflected in the target to increase R&D expenditure to 2.5% GNP by 2020 which will bring Ireland closer in line with other innovation leading economies.”

“Investment in talent which will drive our knowledge economy is furthered through the recruitment of world-class researchers while developing our indigenous talent base through increased research masters and doctoral enrolments.  At UL, we are particularly focused on the quadruple helix model of innovation whereby our researchers/academics are closely linked with industry, community and government driving innovation. In particular, collaboration between enterprise and academia underpinned by the movement of PhD researchers into the SME and MNE sectors has paid dividends in terms of our competitiveness in key sectors such as pharmaceutical, biomedical, ICT.  The commitment to substantially increase funded post-doctoral places is essential in making Ireland an attractive location for researchers.”

“The commitment to recognise the importance of successful industry linkages as a metric of success in the career development of researchers is also key.  Successful knowledge transfer is built upon excellent science coupled with a track-record of sustained industry/academic partnerships which deliver results. Research impact is central to ULs strategy and realisation of impact can only happen through engagement with industry and we are committed to building on our strong record in this space.”

Download Innovation 2020.