Ireland has been called the “Celtic Tiger” in recent history. They earned this name for their innovative ideas and moves. In the 1990’s Ireland prospered with a stable economy, great business climate, and major foreign investments. They also obtained help from the European Union’s Structural Funds to help become a progressive powerhouse. Innovative Ireland is growing again in the 21st century. The country has always been successful in strategy and now they are looking to attract more research expertise and promote home grown businesses.
Innovative Ireland is turning their eyes towards their own shores to find even more success. While they have grown quickly based on foreign businesses innovative Ireland believes it is time to strengthen the businesses that their local residents have. The rate of growth has slowed in the last few years due to world economic issues, but that has not affected innovative Ireland from proceeding with their new strategy.
Education and research are the main components of their new strategy. They want a knowledge based future to help them keep up with the rest of the world, and perhaps even to surpass it. The innovation system is under review constantly. Innovative Ireland does need to strengthen their entrepreneurial culture. At the moment they are behind in this area of business, especially compared to the United States and United Kingdom. Their educational aim is to improve their school system. Ireland has already increased the number of universities they have and introduced more qualified people, but they need to increase the jobs for after graduation to be more successful.