The Irish Government today unveiled its plan for a 5 year science and technology strategy, with the intention that it will lead to a substantial increase in funding allocated to research and development in science and technology in Ireland.

Some of the main goals set by the innovation 2020 plan include:

  • Increase total combined State and private sector investment in science and technology R&D in Ireland to 2.5% of GNP.
  • An increase in annual spending in R&D from €2.9bn annually to €5bn annually for the next 5 years.
  • 30% increase in the number of new enrolments in research-based Masters courses and PhDs each year.
  • A 60% increase in the number of research personnel working in business amounting to 40,000 individuals.
  • To encourage 35% of PhD researchers to transfer from Science Foundation Ireland – funded research teams into industry roles.
  • Seek membership for Ireland in three international research bodies: ELIXIR, which enables biological laboratories across Europe to share and store data as part of a network, the European Southern Observatory, and Cern, Europe’s nuclear research centre.

Innovation 2020 was launched by An Taoiseach Enda Kenny today in the National Convention Centre.