Enterprise Ireland has today (6 September 2006) launched a suite of initiatives to enable Irish companies to comprehensively explore the option of technology acquisition as a cost efficient way to enhance technical capability. The flagship tool, the high spec internet portal www.techsearch.ie, will help Irish companies to sell their own intellectual property (IP) in other markets as well as to license IP from overseas firms to create new revenue opportunities. Two guides on the tax and legal implications of technology licensing have also been developed in conjunction with PricewaterhouseCoopers and Beauchamps Solicitors.
The launch of the site reflects the substantial growth in licensing activity in Ireland under the TechSearch programme since 2004. Enterprise Ireland estimates that 35 licensing deals worth in excess of €1 million will be signed in 2006, representing a significant increase on the 2005 figures. In January of this year, Enterprise Ireland became the first government business development agency in Europe to agree a formal partnership with Microsoft IP Ventures to encourage technology licensing, resulting in a significant deal being signed by Dublin based company Vimio, a provider and developer of live television and music content for mobile users, with Microsoft IP Ventures
The site is targeted at the primary sectors of ICT, biopharma, medical devices, food and beverages, engineering, construction, energy and environment. It also includes an IP audit that will help businesses assess their readiness to participate in licensing agreements, a DIY search facility that allows Irish businesses to search for innovative technologies worldwide, as well as downloadable legal and tax guides and a patent search facility.
Speaking at the launch of the initiative at the Enterprise Ireland Innovation Forum currently being held in Dublin Castle, Jim Cuddy, Manager of Innovation and Technology Transfer in Enterprise Ireland said ‘Technology licensing is no longer a specialist activity used by a few firms, instead it has become a vital tool that can be used to complement in-house R&D expertise, increase innovation and maximise revenues.’
‘The rate of international licensing has been increasing year on year since the mid-nineties as global firms continue to seek new avenues to competitive advantage. Several Irish companies, such as Soft Edge, Altracel and NTera have already benefited from the rise in the rate of international licensing of IP by building partnerships with some of the world’s leading global companies. The TechSearch programme was developed to encourage indigenous growth by making licensing opportunities a reality and the launch of www.techsearch.ie takes this process to the next level.’
Enterprise Ireland aims to increase the proportion of Business Expenditure on Research and Development (BERD) spent by Irish companies on technology in-licensing to 10%, or around €100 million, by 2008.
The site has been developed by the Innovation and Technology Transfer division of Enterprise Ireland in collaboration with Dublin based online marketing agency, Inspiration.
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