According to the 2006 annual report by Enterprise Ireland, the Irish government’s agency for improving industry, the organization approved 194 R&D projects, worth €52.9 million ($72.3 million) in funding. Enterprise Ireland’s Innovation Partnerships funded 63 collaborations between universities and industry in 2006. To further the creation of links between universities and industry, a €30 million ($41.0 million) fund administered by Enterprise Ireland was announced in May 2006 to improve universities’ technology transfer. The Commercialization Fund assists companies and researchers to move their products through the proof of concept, technology development and business development phases. In 2006, the Fund assisted 155 research projects through the proof of concept and technology development phases with a total of €29.7 million ($40.6 million) in funding, including €5.5 million ($7.5 million) for 14 new biotech research projects. Since 2001, Enterprise Ireland has invested over €40 million ($54.6 million) in biotechnology research.

Source: Enterprise Ireland

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