Cowen to launch plan to make Ireland innovation hub

12 Jul 2010

The Taoiseach Brian Cowen is travelling to the US today on a three-day visit to launch an ambitious €500m plan to make Ireland a global innovation hub.

He is expected to announce details of the plan at a meeting at the New York Stock Exchange later today.

Speaking on RTÉ’s The Week in Politics last night, Cowen said the new scheme would commence in September. Under the plan, the State will make an investment of €250m over the next three years in Irish businesses, with the other €250m being provided by investment from venture capitalists.

The Taoiseach said that he wanted venture capital companies to not just invest in Ireland but to locate operations here.

During his US visit, the Taoiseach will also meet with the mayor of New York, Michael Bloomberg. He will also meet with the governor of Georgia, Sonny Perdue, and will announce the opening of the first Irish consulate in a southern US state in Atlanta.

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