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Research and innovation 'crucial to any recovery'

THE Government must continue to invest in research and innovation if Ireland is to remain competitive, EU Commissioner Maire Geoghegan-Quinn has warned.

The former Fianna Fail minister and now Commissioner for Research, Innovation and Science, said the best way for the economy to be competitive was for countries to invest in research and innovation.

"If you look at the countries that have weathered the economic crisis best, they are the countries that have continued to invest substantially in research and innovation," she said.

Ms Geoghegan-Quinn made her comments at the Lero Industry Research Day at the University of Limerick.

Professor Mike Hinchy, director of the Lero, the Irish Software Engineering Centre, said that Irish business needed to prepare now if it was to benefit from a €72bn EU research initiative which begins in January.

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