The Ocean Energy Development Unit in the Sustainable Energy Authority of Ireland (SEAI) was established to take forward the ocean energy sector in Ireland. SEAI operates a Prototype Development Fund aimed at stimulating the development and deployment of ocean energy devices and systems and developers may apply for funding under the scheme.
Prior to the introduction of the Prototype Development Fund, SEAI considered a variety of ways to incentivise industry to develop innovative products, seeking to introduce a level playing field for all product developers/inventors.
Developers/inventors often require support at the very early stage of their project to be able to bring their products to a workable design level. A concern with the proposal outlined would be that only those companies that already have initial development funding in place would be able to avail of such a scheme. The suggestion of the state taking a stake in patent rights is complex and would require in-depth analysis. It would also likely involve the state in the product on an ongoing basis, perhaps well beyond the lifetime of the scheme.