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March 11th, 2010
Ireland cannot have a smart economy unless it has courageous entrepreneurs who operate in a culture where risk is accepted and failure tolerated. Without risk, there can be no rewards.
Ireland has invested hundreds of millions of euro in its science infrastructure and the hope is that our universities will produce spin-out companies that will generate jobs.
One such example is the CRANN Institute at TCD, which is focusing on nanotechnology.
CRANN director Prof John Boland argues that the challenge is finding the funding vehicles to help the spin-outs and that our bankruptcy laws and societal attitudes to failure are out of date.
"The goal is to create companies that will come out of entities like CRANN. It's a slow process, a lot of it is about learning to create companies; we don't have the history here.
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