Vol. 420 No. 6
48 Mr. Quinn asked the Minister for Industry and Commerce if his attention has been drawn to the shortages of venture capital in Ireland for small and medium sized enterprises; the action, if any, he proposes to take in response to this problem; and if he will make a statement on the matter.
The Industrial Policy Review Group Report (Culliton) reviewed the Provision of seed/venture capital for Irish industry. Specifically the Culliton report notes that at the small to medium firm level "seed capital is definitely in short supply".
The Group went on to consider how gaps in the financial market might be addressed in the context of a restructuring of the development supports for indigenous industry. I am informed that this aspect of the Culliton report is at present being examined by the Moriarty Task Force and I propose to consider how the issue can best be dealt with when I receive the Task Force's report in the matter shortly.
