Vol. 542 No. 4
64 Mr. N. Ahern asked the Tánaiste and Minister for Enterprise, Trade and Employment if she has reconsidered the submission made by an association (details supplied) for a £1 million inventors fund; her decision in this regard; and if she will make a statement on the matter. [24683/01]
I am satisfied the existing arrangement for State assistance for inventors with regards to the development of inventions from the initial stage right through to bringing the invention to the marketplace are fair and sufficient.
The investment proposal submitted to the Oireachtas Joint Committee on Enterprise and Small Business, seeking £1 million for an inventors fund and which was subsequently referred to me for consideration, was examined in detail by my Department.
The outcome of that examination was that my Department found no reason to deviate from any aspect of settled policy in this area, particularly in relation to the requirement that no State Agency can allocate funds for any proposal without first familiarising itself with details of the proposal in order to evaluate its prospects of commercial success.
As one of the foundations on which this investment proposal is based requires just such as a departure from policy, I regret to say that I cannot support this proposal. However, I am satisfied that given the vast increase in funds to science and technology under the national development plan, there is ample assistance and encouragement in this area.
