Home > Uncategorized > Wealth Creation or Job Creation? Prt1

Wealth Creation or Job Creation? Prt1

Government agencies such as Science Foundation Ireland and Enterprise Ireland as well as those receiving funding from these agencies (researchers, higher education incubators, universities and colleges) are all under pressure to prove that the investment in research and development can now translate into jobs.

The paradox of this situation is that yes, we are producing new start-ups – but they are being bought out before they become the next Google or Microsoft. This poses a problem. Enterprise Ireland can see some return for their venture capital money and Science Foundation Ireland are starting to see some return from their research investment.

But it is possible that these ‘set-up, sell-out’ companies and licensing to larger companies will be the mainstay of research innovation out of higher education in the next ten years. Is this enough? Companies that tend to become larger international players on their own are not research-oriented, such as a Ryanair or NTR. If companies like Jolt or Havok are sold, does it matter once they keep a majority of the employment in Ireland long term, or does foreign ownership mean that they are no different to multinational companies who can leave when the economics make sense?

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