Science Foundation Ireland, the Director General and the Renovo Debacle

[Kerry Worker]

The new Director General of Science Foundation Ireland has a large skeleton in his cupboard: his spin-off company Renovo has been a disaster - wasting £160 million of taxpayers and investors money while he and his wife pocketed £16million. Read the full story at the Network for Irish Educational Standards wordpress blog.
http://educationalstandards.wordpres...enovo-debacle/

[PaddyJoe]

The new Director General of Science Foundation Ireland has a large skeleton in his cupboard: his spin-off company Renovo has been a disaster - wasting £160 million of taxpayers and investors money while he and his wife pocketed £16million. Read the full story at the Network for Irish Educational Standards wordpress blog.

Could you pop up the link, Kerry Worker?

[C. Flower]

The new Director General of Science Foundation Ireland has a large skeleton in his cupboard: his spin-off company Renovo has been a disaster - wasting £160 million of taxpayers and investors money while he and his wife pocketed £16million. Read the full story at the Network for Irish Educational Standards wordpress blog.

http://educationalstandards.wordpres...enovo-debacle/

I've no expert knowledge of drug research. When it is commercially-driven there is a risk that most money will be poured into minor but common diseases.
Less common diseases will nearly always require a much greater investment per user. We've seen that recently in the controversy over access to the cancer drug known as "ipi."

What do you think is the solution?

[concernedparent]

I've no expert knowledge of drug research. When it is commercially-driven there is a risk that most money will be poured into minor but common diseases.
Less common diseases will nearly always require a much greater investment per user. We've seen that recently in the controversy over access to the cancer drug known as "ipi."

What do you think is the solution?

Like you Cass I have no knowledge of the drug research system, but I would assume that R&D costs can be offset against tax/profits.

Maybe a tiered system of rebates with drugs for common ailments like the cold attracting a lower rate of tax rebate than the drugs for diseases like cancer.

[Kerry Worker]

The main point is the huge risks that can be incurred in rushing to commercialise academic research. SFI has recently moved to only fund science research that can be argued will lead to economic gain - an impossible thing to fortell. The Director's company Renovo is an object lesson in why this is a mistaken policy.

Btw, breast-enhancement scar treatment was the worthy cause, er market, that Renovo pursued. Rank that as you will.

[C. Flower]

The main point is the huge risks that can be incurred in rushing to commercialise academic research. SFI has recently moved to only fund science research that can be argued will lead to economic gain - an impossible thing to fortell. The Director's company Renovo is an object lesson in why this is a mistaken policy.

Btw, breast-enhancement scar treatment was the worthy cause, er market, that Renovo pursued. Rank that as you will.

A sad story, in so many ways.

And very short sighted and misconceived, I agree.

[Spectabilis]

Today Richard Bruton announced the latest SFI funding decisions - €39 million for 30 research projects in the Principal Investigator programme.

I thought the list of associated companies might be of interest here.

List of Companies linking with Researchers
Intel Corporation-Intel Labs Europe; Analog Devices, Ireland and Analog Devices, US; Superlum Ireland; Solarprint Ireland; Equinome (Ire); Opsona Therapeutics (Ire); Polyplus Transfection, France; Trimod Therapeutics (Ire); Fish Antics (Ire); J&J, San Diego; Sigmoid Pharma; Theta Chemicals (Ire); CVD Technologies, UK; Quaternion Risk Management (Ire); Alcatel Lucent (Ire); Hitachi Global Storage Technologies, US.

Details are on the website of the Department of Enterprise

http://www.enterprise.gov.ie/News/Ne...good-jobs.html


Among the areas to be funded are:

· Molecular imaging of cancer
· Obesity
· Inflammatory diseases
· Green transport and communications networks
· Renewable energy generation and storage

[erigena]

This debacle was predicted some time ago;

http://9thlevel.ie/2011/06/14/sfi-an...xpayers-money/

(You may have to go to the cached copy to get the link - it's also at http://seanonuallain.blogspot.com/20...eamh-2011.html and scroll down)

[C. Flower]

Only 4 Irish scientists have got research funding this year - scientists are saying that basic research will not be funded in future - only commercial "economic" projects.

[Spectabilis]

Source?

[Baron von Biffo]

Source?

It was reported on SixOne this evening.

[PaddyJoe]

Source?

Dr Mark Ferguson told RTÉ News he accepted criticism from the European Research Council that Ireland needed to improve its performance in drawing down ERC funds.
Just four Irish projects made the grade in the latest round of ERC funding.

http://www.rte.ie/news/2012/0911/research-science.html

[Spectabilis]

Four projects, not four scientists. That makes more sense.

[PaddyJoe]

Four projects, not four scientists. That makes more sense.

I think the tv news piece referred to four individual researchers though. Pretty shocking

[Spectabilis]

The critical objections from many research sectors on this policy have been around for some time. I haven't looked up the relevant policy documents or journalism., but academics have been very clear in rejecting this policy.

It is, unfortunately, completely in line with policy since, at least , the Bórd Snip Deux report.