Minister for Enterprise, Trade and Employment, Michael Martin today opened the Innovation Value Institute (IVI), a multi-disciplinary research and education establishment co-funded by Intel Ireland and National University of Ireland Maynooth. The IVI will research and develop ways for IT and business executives to get better value from IT investments and innovation. It is located on the NUI Maynooth campus and will be supported by a consortium of members from academia, industry and professional associations.

Speaking at the official opening, Minister Martin said, “I am pleased to see further evidence of Intel’s commitment to Ireland through the funding of this institute and particularly that it is in the area of R & D for developing IT innovation in a broad range of application areas. I consider the Innovation Value Institute here as both a great opportunity and complement to Maynooth University.”

In June of this year, NUI Maynooth President, Professor John Hughes and Martin Curley, global director of IT innovation and research at Intel announced their intention to formally establish the IVI at the inaugural IVI chartered members meeting which was held on the NUIM campus.

NUI Maynooth President, Professor John Hughes is delighted to see this project come to fruition, “NUI Maynooth is delighted to be involved in the launch of this venture with Intel. The IVI will deepen our research relationship with Intel, who are our near neighbours in Kildare and who are also the largest inward investor in Ireland. It is vital for the future of the Irish economy that multinationals cooperate with our universities. This is a fine example of what can be achieved in that regard.”

Using open-innovation, the IVI Consortium will provide the opportunity to achieve results far beyond what any one organisation could achieve on its own. By operating at the intersection of academia and industry and alternating inductive and deductive methods, the consortium will leverage best practices to design for success.

Justin Rattner, Intel chief technology officer sees the establishment of IVI of considerable importance to Intel and other organisations looking for better ways to manage IT. He said, “I have great confidence in the Innovation Value Institute and its ability to significantly impact the future of IT, and in doing so help enterprises and governments worldwide maximise the value of their IT investments.”

IVIC will initially focus on extending the development and utilisation of the IT Capability Maturity Framework (IT-CMF) and IT Capability Maturity Model (IT-CMM). Further frameworks and models / methodologies will be developed and disseminated in related areas, for example; an IT Innovation Framework and IT User Experience Design Framework are currently in development.

IVI will advance these methodologies through collaboration with a broad set of Consortium members. To this end, there are multiple levels of membership available to public and private sector organisations wishing to support and participate in the development and implementation of IVI’s vision and mission.

The benefits of membership include the opportunity to influence the definition of new standards, the reduction of costs through cooperative standards development, a convenient forum for discussion of industry issues and the solving of shared problems. Members will influence research, receive early access to results as well as have intimate interaction with researchers and peers from other organisations. For further information please log onto http://ivi.nuim.ie/ or refer to the IVIC Research Agenda.

Intel, the world leader in silicon innovation, develops technologies, products and initiatives to continually advance how people work and live. Additional information about Intel is available at www.intel.com/pressroom.

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