A new bill has been formed by the minister of jobs and the minister of state for research and innovation, which they believe will generate good jobs in near future with good ideas.

The news is talking about the new Irish Innovation bill that has been formed with the efforts of Mr. Richard Bruton, minister for jobs, enterprise and innovation and Mr. Sean Sherlock, minister of state for research and innovation.

The new bill has been announced today during the publication of the Industrial Development (Science Foundation Ireland) (Amendment) Bill 2012, following an agreement by the Government.

The ministers have explained in their statements that the new bill's purpose is to extend the remit of Science Foundation Ireland and enable the agency to further provide funds to the applied research running in to its existing remit to fund oriented basic research.

Both the ministers are promising to soon turn the good ideas into good jobs but with their promises, are they continuing ignoring the evidence of failure? The answer is yes, as many based upon the facts of last March when an official taskforce recommended 14 research priority areas to bring an increase in the level of commercialization.

Moreover, many experts believe that Ireland has a small economy in which foreign companies dominate the internationally tradable goods and services sectors, which they fear, cannot serve in creating any jobs engine from research.