An expert group is seeking contributions from individuals on strategies to safeguard Ireland's economic future. The Technology Foresight Initiative, established by the Irish Council for Science, Technology and Innovation (ICSTI), will release a report by Christmas determining the science and technology requirements likely to yield the greatest benefit to Ireland 17 years from now.

The task force, established last March, divided the economy into eight sectors and assigned a panel of about 20 industry, academic and government experts to each. The panels meet monthly and, by asking strategic questions - encompassing best and worst case scenarios - the members work to devise strategies that will be sustainable in 2015. According to Mr Brian Sweeney, chairman of the Technology Foresight Task Force and chairman of Siemens Ireland, the panels are very keen to get the opinions and feedback of anyone involved in the science and technology area.

"Our current goal is focusing limited national resources on the greatest benefits for our economy. Despite rapid growth here, the tail will not wag the dog. Ireland is not going to conduct a reverse takeover of the world; we have to plan ahead."

A number of common recommendations are emerging from each panel, particularly the importance of embedding multinational investment in Ireland by basing critical research and development activities here. Biotechnology has also been identified as a key growth area that could give Ireland considerable competitive advantage. And a robust broadband telecommunications infrastructure is seen as critical.

A rapid response regulatory system needs to be implemented to avoid investment deals being lost through red tape delays. This would be especially important in the area of planning and telecommunications.

There is also an apparent need to heighten the public perception of science and technology. The ICSTI believes that if this can be achieved it may go some way towards addressing the current skills shortage.

The ICSTI's report is likely to call for the establishment of an innovation investment fund. Building on the growing trend towards public-private partnerships, competitive tenders would be invited for the practical application of recommended projects. The level of funding received would be directly proportional to the perceived importance of the project.

The eight panels include: chemicals and pharmaceuticals; natural resources; transport and logistics; materials and manufacturing; computer hardware, software and telecommunications; health and life sciences; construction and infrastructure; and energy. Details of the Technology Foresight Initiative are available on the Forfas website http://www.forfas.ie