Eight directors of Enterprise Ireland had interests in companies and funds that received financial assistance from the State body last year.
The 2006 annual report of Enterprise Ireland, which supports indigenous industry, shows it provided supports worth €20.7 million to such companies. A schedule of board members' interests obtained from Enterprise Ireland reveals that chairman Pat Molloy, a former chief executive of Bank of Ireland, had an interest in five entities that received more than €9 million in financial assistance from the body last year.
These included Bank of Ireland Kernal Capital Partners; Delta Equity Fund II Ltd Partnership; Irish Management Institute (IMI); Trinity Venture Capital Fund 2B and Trinity College.
The IMI was also approved for further supports worth €180,600.
Heather Ann McSharry, general manager of Reckitt Benckiser Healthcare (Ireland) Ltd, and Kieran McGowan declared an interest in University College Dublin, which received supports in excess of €4.4 million last year.
Aran Technologies, a company in which Mr McGowan and Mr Molloy both had an interest, was also approved for funding worth almost €405,000.
Margaret Daly had an interest in Limerick University (Biomass Collaborative Research Group), which benefited from supports exceeding €6 million from the Enterprise Ireland last year.
John Connolly, the marketing manager at SWS Group, declared an interest in Cork Institute of Ireland, which received supports of with €1.137 million.
Financial assistance of €15,000 was approved for SWS Management Ltd, a company in which Mr Connolly also has an interest.
Gus Fitzpatrick, who retired as a board member in July 2006, had an interest in Richard Keenan & Co, a Carlow-based agri-business which received €47,500 in financial assistance in 2006.
Brian Kearney had an interest in Ireland Kernal Capital Partners and Delta Equity Fund II, and Mr Kearney and Veronica Perdisatt were connected with Trinity Venture Fund 2B.
The report states the relevant directors did not participate in discussions on transactions where a potential conflict of interest arose.
