Background

Maritime: Despite being an island nation with a strong dependency on the sea and the largest ocean to land mass ratio of any EU State, the Irish maritime economy is deemed to be in its infancy, with significant potential for growth. Innovation is required to maximise new opportunities from areas identified in the national Sea-Change Strategy such as offshore energy, maritime transport and marine technology.

Energy: Ireland’s energy infrastructure and dependency profile are such that change is required if Ireland is to develop a lower carbon economy, optimise the export potential from energy engineering and attract significant foreign direct investment as a consequence of innovative R&D in the energy sector. A move towards more sustainable energy technologies coupled with a drive to enhance R&D in these technologies as well as in renewable energy is key.

The maritime and energy sectors offer unique opportunities for significant investment and growth. They share a requirement for industry led R&D to realise their potential to contribute substantially to Ireland Inc. Common issues, such as the need to reduce emissions from shipping and to develop offshore wave energy installations, can realise economic benefits in both areas.