If anyone is interested in testing the proposition below, let me know. I think that Professor Prondzynksi hits the nail on the head. However, nobody has conducted a serious statistical study rigorously examining the extent to which research funding causally impacted the development of multinational investment and indigenous start-ups in Ireland, and how the Irish experience compares internationally.
"For example, the IDA (Ireland’s inward investment agency) has stated several times that its recent successes in generating foreign direct investment have overwhelmingly dependent on and been based on our research investment and the existence of a serious research community in Ireland, as this was a vital factor for the companies contemplating Ireland. Similarly, indigenous start-ups increasingly tap into our research capacity."
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