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Enterprise Ireland
Annual Report and Accounts
2006

Membership of the Board and Committees (continued)

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Seed and Venture Capital Committee

Enterprise Ireland launched the Seed and Venture Capital Scheme 2007-2012 in mid-2006. The objectives of the scheme are to: further develop the Irish venture capital sector; provide risk capital to SMEs in the seed, start-up and development stages; leverage private and institutional investment; and develop commercially viable funds. The funding commitment is up to €175 million in commercially focused, private sector venture capital funds. Funding can be up to a maximum of 50% in any venture capital fund. The scheme is a competitive one.

The following member retired from the Seed and Venture Capital Committee in 2006/2007: Kieran Grace, Principal Officer, Department of Enterprise, Trade and Employment.

The Industrial Research and Commercialisation Committee

The Industrial Research and Commercialisation Committee approves funding of up to €1.25 million for Applied Research and Commercialisation involving the universities and institutes of technology, collaborative research, industry led networks etc. It focuses on projects which are either industry led or have potential to lead directly to a commercial outcome in Ireland.

In Attendance:

The following members of the Industrial Research and Commercialisation Committee retired during 2006/2007: Gerry Carroll, Head of Development, Dundalk Institute of Technology; Dr. Colum Dunne, Director Research and Development, Glanbia Innovation Centre; Bob Keane, Office of Science and Technology, Department of Enterprise, Trade and Employment; Prof. Mark Keane, Director General, Science Foundation Ireland; Dr. Mary Martin, Chief Operating Officer, AGI Therapeutics Research Ltd.

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