New Report Shows Employing PhD Graduates Benefits Irish Enterprise

While only 29% of R&D active firms employed PhD researchers in 2007, these companies accounted for 70% of business expenditure on R&D. The report, the Role of PhDs in the Smart Economy, highlights Ireland's need to maintain a competitive output of PhDs in relevant disciplines in line with other developed countries and sets out a list of recommendations to maximise the development of 4th level education in Ireland and its critical relevance to enterprise and society.

Launching the report, Conor Lenihan T.D., Minister for Science, Technology and Innovation said: "This report on the Role of PhDs in the Smart Economy is timely in that it highlights the benefits that PhD graduates bring to firms and sheds much light on the role they can play as we strive to build Ireland's knowledge economy.

"The confirmation of ongoing STI investment announced in last week's Budget reaffirms Government's continued commitment to the flourishing of the knowledge-based economy on this island. A supply of PhD qualified researchers with skills closely aligned to broader economic and social needs will best position Ireland to take advantage of the global upturn."