Good evening Ladies and Gentlemen.
I think I speak for everyone here when I say how proud we are to have Google here in Ireland.
Google’s presence as a leader of what’s been called Web 2,0 is important to Ireland.
10 years ago only mathematicians knew that the word Googol is the number one followed by one hundred zeroes.
Today anybody who seeks information knows the word google.
Last year it became grammatically acceptable to ‘google’ something when the word officially entered the dictionary.
Google has expanded from its original role as a search engine – to develop new applications: email, online shopping, news media and of course, paid search advertising. The recent acquisition by Google of YouTube is an exciting venture into the emerging video clip market.
Paid search advertising is the fastest growing business in the history of media.
It is the answer to a question that confounded many businesses – how to make real money from the internet?
Google’s answer – sophisticated algorithms enabling more targeted advertising reaching audiences is something companies want to pay for. That’s evidenced by the quality of international companies we see here today.
I wish you well. Partially because we all recognise that Ireland Inc’s continued economic success is entwined with with the success of our enterprises, including Google’.
Google established its European Headquarters here in Dublin in 2003. It is now the largest of its operations outside the US.
It didn’t happen by accident.
We provided a flexible business environment and a highly-skilled workforce that attracted Google and a host of multinationals companies such as Dell, Intel, HP.
However these successes should not breed complacency.
Ireland has to travel up the value chain in terms of research, innovation and, to coin a phrase; Intellectual National Product to retain FDI levels and compete in the globalised economy.
As New York Times columnist, Thomas Friedman points out:
“… the most important rule in today's increasingly flat world is this: Whatever can be done, will be done -- because so many people now have access to the tools of innovation and connectivity. The only question is: Will it be done by you or to you?”
Facing into this new era, in Government, we must ask ourselves the question,
“How can we prepare so that we are ready for the opportunities churned by the maelstrom of change”
Ireland must innovate, is the simple answer.
We must adopt a Moore’s law type approach to innovation – the rate of innovation in our society must increase two-fold every five years.
When I talk to any of the heads of the MNCs here in Ireland, they tell me that their Head offices always ask about what’s going on in innovation and research. Google’s new competition, Microsoft Chairman Bill Gates, only today identified universities as crucibles where innovation takes place.
I believe part of the answer lies on a college campus located in the Californian town of Palo Alto.
Stanford University’s rate of successful innovation springs from its ability to couple research excellence with business.
It is no coincidence that Cisco Systems, Sun Microsystems, Hewlett-Packard, Yahoo and Google all have their beginnings there.
To replicate this model, we in Ireland must attract the best business to our shores and the best people through sensible policy and leadership.
The Government’s new Strategy for Science, Technology and Innovation acknowledges this.
Two interlinked goals will be to double the number of PhD graduates in science and engineering by 2010 and to build a sustainable system of world class research teams.
In tandem, the strategy will carve out a ‘route to commercialisation’ for the transfer of knowledge from researcher organisations into the market place.
In conclusion, I would like to pay special tribute to the all the companies represented here this evening. With your creativity, entrepreneurship and deep appreciation of technology, you possess the qualities that I believe are key to Ireland’s economic future and prosperity.
I wish you all an enjoyable evening and the very best in your future endeavours.
ENDS