Cormac Gebruers Acting IMERC Director IMERC and “The production of wealth”

I know nothing about economics… Economics: “The branch of knowledge concerned with the production, consumption, and transfer of wealth” IMERC exists to support “the production of wealth” Me & Economics…

1.An IMERC overview 2.Marrying the Marine Renewable Industry’s Business and Research Networks 3.IMERC and Operations & Management R&D What I’m going to talk about…

“To become a research and commercial cluster of world standing, by realising Ireland’s potential in the global, maritime and energy markets of tomorrow”. The IMERC Vision…

University College Cork – Hydraulics and Maritime Research Centre (HMRC) – Coastal & Marine Resources Centre (CMRC) – Sustainable Energy Research Group (SERG) – + Entire UCC Capability & Resources Cork Institute of Technology – (NMCI + CIT) – Maritime Operations Training & Education, Commercial Services & now Research (!) – Extensive, globally significant facilities – + Entire CIT Capability & Resources Irish Naval Service – Largest seagoing agency in the State – Extensive maritime operations knowledge & experience off Ireland’s coasts; – “to be the smartest, most innovative, responsive naval service provider in the world by 2016” IMERC Core Partners

NMCI Naval Base FDI/SME Locations… The IMERC Cluster; a Campus Beaufort Laboratory

SERG The IMERC Cluster; a Network

MARINE ENERGY SHIPPING, LOGISTICS, TRANSPORT MARITIME SECURITY & SAFETY MARINE RECREATION Ocean Engineering Maritime Operations Ecosystem Governance Enabling Maritime Technologies Balancing fundamental with applied and industry led research MERC focus – Innovation & Commercialisation

IMERC is part of the Marine Renewable Energy “execution stage”*, to deliver a viable export focussed industry in Ireland IMERC is facilitating job creation while also creating actual jobs in the Marine Renewable Energy sector in Ireland Two examples of how IMERC is working toward the product of wealth in in Ireland’s nascent MRE sector… IMERC and Ireland’s MRE Sector *Barry O’Flynn, Ernst & Young

Inter-alia, it takes: – Innovators – Entrepreneurs – Teamwork For wealth to be produced, all three need to exist More importantly, they need to be able to interact effectively Connecting Business & Research

Without Innovators, any business or economy stagnates… Without Entrepreneurs, no business ever gets started, no economy grows… The challenge is putting them together successfully to achieve commercial results “Innovators & Entrepreneurs”

Without it, no idea or business sector ever reaches its full potential… Teamwork; –“Most common single point of failure in Enterprise” –Needed at all stages and in all activities – R&D, start-up, growth & in legal, financial, policy activities etc. –Must be facilitated, encouraged & counselled “Teamwork”

Teamwork has been a real problem in “parochial Ireland” in the past… Signs this is changing for the better; –New consenting regime –Renewable Energy White paper –National MRE test infrastructure, Beaufort, Galway, Belmullet etc. There are still significant challenges to overcome however…… “Teamwork”

Bringing together Innovators and Entrepreneurs in the Marine Renewable Energy space Helping them to; –Communicate effectively –Share their problems & potential solutions –Build effective teams –Deliver targeted funded projects –Achieve commercially focussed results IMERC – Facilitating Team building

Importance of O&M R&D: –How O&M is executed will mean the difference between profit & loss –IMERC is uniquely placed in terms of the maritime operations aspects of MRE –IMERC is actively engaged around issues such as: Cost effective communications & data collection Security & safety Installation & maintenance issues Education & training IMERC: Operations & Management

IMERC, its partners and network, will play a central role in delivering O&M capability to the Irish and international MRE industry

IMERC Launch by An Taoiseach, Enda Kenny T.D. November 2011 IMERC Inaugural Conference, March 2012