Investing in innovation during a tight economy could provide a leg up for funders and start-ups once the turnaround comes, a Science|Business conference heard.

Academic entrepreneurs from across Europe were named last night as the winners of the inaugural Academic Enterprise Awards 2008, at a ceremony in Stockholm, Sweden.

IBM is to set up a computing research “collaboratory” in Dublin, creating 40 jobs at IBM and local universities, supported by the Irish government through IDA Ireland.