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C. Flower
23-06-2010, 10:39 PM
Dublin Dilettante today had a look at the Dail register of Interests and noticed this -




The most striking entry belonged to Ruairi Quinn, and is notably absent from the profile on his website (http://www.ruairiquinn.ie/?page_id=2). In the Dáil register, we find the following:

8. Remunerated Position ……. Chair, Fund Advisory Committee: 4th Level Ventures, 75 St. Stephen’s Green, Dublin 2.
4th Level Ventures was a new one on me, so I took a toodle to Google and found the following depressing glimpse into the future of education (http://www.4thlevelventures.ie/aboutus.html).
The website’s masthead reads “Commercialising Academic Research”, and the company identifies its role thus:

4th Level Ventures is a €20 million Venture Capital Fund managed by Dolmen Securities. Founded in 2002, we are focused exclusively on investing in companies whose Intellectual Property arises from third level education institutional research. We are sector neutral, our expertise lies in the commercialisation of technology.
Our primary objective is to commercialise the business opportunities that arise from university research. In Ireland, this output is being boosted by Government investment of €2.5bln for science research from 2002-2006.
Ruairi Quinn is Labour Spokesperson on Education and Science.


Oh dear.

Ireland (http://en.wordpress.com/tag/ireland/), Politics (http://en.wordpress.com/tag/politics/), Principles of Political Economy (http://en.wordpress.com/tag/principles-of-political-economy/).

Béal na Bláth
23-06-2010, 11:36 PM
Venture Capitalists = parasites. Ask eircom - whatever's left of it. Is there even one of our cossetted TD's that is happy to be just a TD, without the fingers in all the feckin pies?

PaddyJoe
24-06-2010, 02:00 AM
Ruari is only in the halfpenny place compared to brother Lochlan. Former chairman of AIB, a stake in the Merrion hotel and Chateau de Fieuzal, a €45-million Bordeaux vineyard and office buildings in the IFSC in Dublin. Appointed chairman of ESB in 2008 by current government.

Sam Lord
24-06-2010, 04:27 AM
Venture Capitalists = parasites. Ask eircom - whatever's left of it. Is there even one of our cossetted TD's that is happy to be just a TD, without the fingers in all the feckin pies?


No. They are TD's because it helps them get their fingers in the pies.

eoinmn
24-06-2010, 10:20 AM
Eircom weren't taken over by Venture Capitalists, just regular capitalists.

VC companies typically invest in small innovative start-ups.

C. Flower
24-06-2010, 10:22 AM
Eircom weren't taken over by Venture Capitalists, just regular capitalists.

VC companies typically invest in small innovative start-ups.

Which is why they are relevant here. Very substantial amounts of public monies are being invested in university-based "4th level" research.

R. Quinn's financial engagement with something so close to his own portfolio is seriously displeasing.

antiestablishmentarian
24-06-2010, 11:08 AM
Wow, talk about caught with his pants down...

Captain Con O'Sullivan
24-06-2010, 12:05 PM
Major conflict of interest I'd say. Another example of the 'forked tongue' nature of Irish politicians?

Béal na Bláth
24-06-2010, 12:12 PM
Eircom weren't taken over by Venture Capitalists, just regular capitalists.

VC companies typically invest in small innovative start-ups.




Australian venture capitalists Babcock & Brown Capital have a master plan for Eircom. They want to split it up, sell the retail arm and be left with a stable utility in a monopoly position generating a relatively stable cashflow. But with so much at stake, Comreg, the regulator, won’t be rushed into deciding whether to give its approval to the scheme.


http://www.independent.ie/business/irish/ringing-up-a-storm-on-phone-lines-1289260.html

C. Flower
24-06-2010, 12:14 PM
Major conflict of interest I'd say. Another example of the 'forked tongue' nature of Irish politicians?

At very best, a major lack of cop on.

eoinmn
24-06-2010, 04:46 PM
Australian venture capitalists Babcock & Brown Capital have a master plan for Eircom. They want to split it up, sell the retail arm and be left with a stable utility in a monopoly position generating a relatively stable cashflow. But with so much at stake, Comreg, the regulator, won’t be rushed into deciding whether to give its approval to the scheme.Kinda proves my point.

Anyway, yeah conflict of interest.

C. Flower
26-06-2010, 03:03 PM
More from Dublin Dilettante on this sorry business

http://www.deti.ie/press/2004/20040512a.htm



'Intellectual Property key asset' - Harney

Mary Harney, Tánaiste and Minister for Enterprise, Trade and Employment, today (Wednesday 12th May) launched a €20 million Venture Capital fund focused exclusively on investing in companies whose Intellectual Property arises from third level education institutional research. Enterprise Ireland has committed €8.6m to the fund which is being managed by 4th Level Ventures, a subsidiary of Dolmen Securities Limited.

C. Flower
08-09-2010, 12:44 PM
Ruairi Quinn, campaigning for abolition of Fás, has his own educational interests.

PaddyJoe
27-09-2010, 07:46 PM
Ruari really is anxious that Mary gets in her trip to the US. It has got something to do with education and training links, hasn't it?

C. Flower
27-09-2010, 08:43 PM
Ruari really is anxious that Mary gets in her trip to the US. It has got something to do with education and training links, hasn't it?

This is one not to forget in case we are looking at a future Minister for Education.

PaddyJoe
27-09-2010, 10:01 PM
So going back to the OP it seems that Ruari is the
Chair, Fund Advisory Committee: 4th Level Ventures, 75 St. Stephen’s Green, Dublin 2.


4th Level Ventures is a €20 million Venture Capital Fund managed by Dolmen Securities. Founded in 2002, we are focused exclusively on investing in companies whose Intellectual Property arises from third level education institutional research. We are sector neutral, our expertise lies in the commercialisation of technology.
Our primary objective is to commercialise the business opportunities that arise from university research. In Ireland, this output is being boosted by Government investment of €2.5bln for science research from 2002-2006.
The investors on the website are named as Enterprise Ireland and Dolmen Securities.
Does Ruari have a vested interest in ensuring that this trip by Mary Coughlan goes ahead?

DCon
27-09-2010, 10:07 PM
The investors on the website are named as Enterprise Ireland and Dolmen Securities.
Does Ruari have a vested interest in ensuring that this trip by Mary Coughlan goes ahead?

That is the pertinent question.

Lots of conflicts of interest from what I can see..

disability student
27-09-2010, 10:27 PM
I think there is a valid question to ask between R Quinn with his own vested interests and that of M Coughlan. One is Enterprise Ireland who often go out on the limb for any aspiring businessman just like a friend of mine who went to Japan with them.

Perhaps real reason for his solo run??

Mick Tully
28-09-2010, 12:45 AM
We had Mr Quinn as Minister of something at one stage and what did he do.

DCon
28-09-2010, 08:22 AM
I think there is a valid question to ask between R Quinn with his own vested interests and that of M Coughlan. One is Enterprise Ireland who often go out on the limb for any aspiring businessman just like a friend of mine who went to Japan with them.

Perhaps real reason for his solo run??

IF I was involved with a VC company that aimed to commercialise third level research, it would be in my interest to have as many students in Irish Universities as possible, and also have a wide variety of students from different nationalities and backgrounds.

C. Flower
28-09-2010, 09:43 AM
Ruari really is anxious that Mary gets in her trip to the US. It has got something to do with education and training links, hasn't it?

It's a Career Advisor's conference, according to RTE news this morning.

It's being billed as a "job generating" trip - but the most relevant aspect would seem to be the potential for harnessing Careers Advice to channel US students to Ireland - as we are surely not in the position to be offering jobs to US school leavers.

jmcc
28-09-2010, 09:46 AM
Venture Capitalists = parasites. Ask eircom - whatever's left of it. Is there even one of our cossetted TD's that is happy to be just a TD, without the fingers in all the feckin pies?Eircom was taken over by asset strippers - quite different from Venture Capitalists. VCs supply funding to mid stage startups who want to go public. They are, in some cases, a necessary evil in the business process.

Regards...jmcc

jmcc
28-09-2010, 09:51 AM
IF I was involved with a VC company that aimed to commercialise third level research, it would be in my interest to have as many students in Irish Universities as possible, and also have a wide variety of students from different nationalities and backgrounds.Having as many students in Irish universities as possible is a great idea for keeping people off the dole with pseudoscience courses. However a lot of third level research is not easily monetised and some third level educational operations have a vastly overrated opinion of the junk that they pass off as research. Their joint venture terms also suck. Most of the people in third level research are there because they are psychologically and intellectually incapable of working in the high-stress business environment that comes with a startup. EI has tried to identify and grow potential businesses and convert academic lifers to innovators and business people but you can tell from one look in their eyes that the vast majority of them do not have what it takes to survive in a startup.

Regards...jmcc

bokonon
07-03-2011, 04:09 PM
Did Ruari write this part of the Programme For Government?


The critical gap between basic research promoted and funded by Science Foundation Ireland and third level institutions and its subsequent development into commercial opportunity for investors can only be closed by making new technologies ‘investment ready’. We will establish a network of Technology Research Centres focused on applied technological research in specific areas, to be linked to appropriate higher education institutions. The centres will accelerate exploitation of new technologies by providing infrastructure that bridges gap between research and technology commercialisation. We will initially establish 3 additional centres foccussing on biotechnology, nanotechnology and high value manufacturing. Further centres from a number of other areas will be selected at a later time


From the 4th Level Ventures website:


Our primary objective is to commercialise the business opportunities that arise from university research. In Ireland, this output is being boosted by Government investment of €2.5bln for science research from 2002-2006.
...
A unique aspect of our fund is that we work on campus with the university commercialisation teams. We also work with academics at an early stage to help them evaluate propositions and make commercial decisions.
http://www.4thlevelventures.ie/aboutus.html


Let's see if Ruairi gets the Education portfolio (or Enterprise/Innovation).

TotalMayhem
07-03-2011, 04:15 PM
Did Ruari write this part of the Programme For Government?

Honi soit qui mal y pense... :D

PaddyJoe
10-03-2011, 12:51 AM
I assume Ruari will resign this position now that he is Minister for Education?

TotalMayhem
10-03-2011, 12:58 AM
Assumption the mother of all f'ups. ;)

C. Flower
13-03-2011, 11:08 PM
I assume Ruari will resign this position now that he is Minister for Education?

Right you are....



http://www.independent.ie/business/quinn-quits-education-technology-funding-firm-2577761.html

TotalMayhem
13-03-2011, 11:53 PM
Respect!

Dr. FIVE
02-07-2014, 02:57 PM
bump

yes, would be a handy gig for a former education minister to return to

https://pbs.twimg.com/media/Briz8u8CIAA8ywc.jpg:large

disability student
02-07-2014, 04:27 PM
bump

yes, would be a handy gig for a former education minister to return to

https://pbs.twimg.com/media/Briz8u8CIAA8ywc.jpg:large

Mr Quinn has been chairman of the fund advisory committee of the 4th Level Ventures University Seed Fund for about four years.

This fund supports start-up companies that are set up using research by universities, hospitals and Institutes of Technology.
advertisement

Mr Quinn wrote a letter of resignation last Thursday so he could step down from his position with the company.

"I have resigned, in writing, from my position as chairman of the fund advisory committee of the 4th Level Ventures University Seed Fund," he said last Friday.

Mr Quinn's decision to step down from 4th Level Ventures is understood to have been taken to alleviate any concerns that may have arisen about a possible conflict of interest had he continued in his role with the company while Education Minister. The state agency Enterprise Ireland is a major investor in 4th Level Ventures.

Mr Quinn did not have a day-to-day role in 4th Level Ventures, according to a company source. The Sunday Independent understands Mr Quinn chaired two to three meetings a year where investment was reviewed.

One of the companies supported by 4th Level Ventures is Nualight, a Cork company chaired by Eamonn Quinn -- son of Superquinn founder Feargal Quinn. Nualight designs LED lighting to make food look more appetising in supermarkets. It also supports the Cork games company Selatra and Limerick chip firm, Powervation.

The internet pioneer Dennis Jennings, and Ray Naughton, a former managing director of Siemens Nixdorf in Ireland, set up 4th Level Ventures. Dolmen Securities' Ronan Reid is managing director of the company.
- See more at: http://www.independent.ie/business/quinn-quits-education-technology-funding-firm-26713086.html#sthash.jlJhoeFm.dpuf

Dr. FIVE
02-07-2014, 05:46 PM
last line in Irish Times article today


"It would not be a surprise if, on leaving politics, he looks for a further role in education."

PaddyJoe
02-07-2014, 06:24 PM
last line in Irish Times article today

Batt O'Keefe might have soured the milk a bit on that....:D

Dr. FIVE
01-04-2017, 02:52 PM
Well well well


A private school aimed at children of multinational executives to be based in south Dublin looks set to be the most expensive in the State when it opens next year.

It will be operated by Nord Anglia Education, a Hong Kong-based firm which describes itself as the “world’s leading premium schools organisation”. Typical charges for schools it operates in Europe are about €20,000 a year for second-level day pupils.


Former minister for education and Labour TD Ruairí Quinn, who has been hired as a consultant by Mr O’Callaghan, was involved in supporting the bid.

http://www.irishtimes.com/news/education/new-private-school-set-to-be-the-state-s-most-expensive-1.3031285

C. Flower
01-04-2017, 04:09 PM
Well well well





http://www.irishtimes.com/news/education/new-private-school-set-to-be-the-state-s-most-expensive-1.3031285


Now, where is that 'puke' smiley when you need him most ?

Apjp
02-04-2017, 03:57 AM
Well well well





http://www.irishtimes.com/news/education/new-private-school-set-to-be-the-state-s-most-expensive-1.3031285

Out of interest would it be legally possible to ban such schools?

Apjp
02-04-2017, 04:00 AM
It strikes me the only party of the last several govts not 100% driven by money was The Green Party. Maybe the Independent Alliance are just fools but they also do not seem like money men.

Is that what passes for morality in Irish politics? Useful mudguards but not corrupt?