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Founded by Rich Bendis BRIAN Cowen will this morning launch an ambitious €500 million plan on which the Government has pinned its hopes of making Ireland the “innovation hub” of Europe.

Mr Cowen will announce details of the “Innovation Fund” at a meeting with business leaders at the New York Stock Exchange today.

The fund has been Government policy since the smart economy framework was published in 2008 but has been delayed by the recession. Before his departure for New York yesterday, Mr Cowen confirmed the scheme will commence in September, with the State investing €250 million over five years, a sum which he said will be matched by private sector investment.

To read the full, original article click on this link: Cowen launches €500m plan for Ireland as innovation hub - The Irish Times - Mon, Jul 12, 2010