Irish universities spend over half a billion euros on research

According to Knowledge Transfer Ireland (KTI), Irish universities, technology institutes and other publicly funded research organizations currently spend more than half a billion euros a year on research.

The review of CTI’s spending for 2021 found that research institutes spent 672 million euros on research last year, the highest on record.

This also means an increase of more than a third since the start of the Annual Knowledge Transfer Survey by CTI in 2013.

The number of spin-offs from research organizations also increased slightly in the past year. In 2021, 32 such companies were founded, 2 more than in the previous year.

According to the KTI there are now a total of 143 active companies that have emerged from research activities in Ireland and have been in existence for three years or more. The creation of these companies has also led to the creation of 1,218 jobs.

In 2021 five spin-out companies were acquired bringing revenue of €4 million to research organizations in Ireland.

Irish companies have also sought to partner with higher education institutions for research, development and innovation projects over the past year, completing 80 per cent of R&D deals in 2021. 66 percent of them were also small and medium-sized companies.

“Our 2021 Annual Knowledge Transfer Survey shows that despite the challenges of recent years, the link between publicly funded Irish research and business is stronger than ever,” said Imelda Lambkin, Enterprise Ireland’s Manager of Disruptive Technologies.

“We are seeing continued geographic dispersion in the activities of companies collaborating with the third tier and other government-funded research organizations.” Irish universities spend over half a billion euros on research

Fry Electronics Team

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