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Saturday 10 December 2016

Diageo helps fund €200,000 reward to rescue economy

Colm Heatley

Published 18/02/2010 | 12:58

Guinness maker Diageo is among the companies funding a €200,000 reward for ideas to transform the Irish economy.

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The awards will be given to the top two ideas that “when implemented could secure prosperity and jobs for Ireland,” according to a statement on the organizer’s website.

The country's economy shrank 7.5pc last year and won’t return to growth until the second half of 2010, the Central Bank has said.

The organizers want entries in nine categories, including engineering, and a fund of €500,000 is available to implement each of the winning ideas.

The competition is the “brainchild” of Martin McAleese, husband of President Mary McAleese, Shona O’Neill, a spokeswoman for the organizers, said in a phone interview.

She said Diageo is one of the 30 companies behind the reward.

A “coach” will be assigned to as many as 20 semi-finalists to help them develop their proposals for six weeks.

The finalists will then be decided by “key decision makers,” the website said, without identifying them.

Bloomberg

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