A long-misunderstood interpretation of Chinese script holds that the word for crisis is the same as the word for opportunity. It may not be quite so simple, but for Jack Dorsey, the founder of Twitter, Ireland’s currently economic troubles are the perfect backdrop for real entrepreneurial spirit.

Dorsey was speaking at the Dublin Web Summit, where nearly 600 people came to speak about the possibilities of technology, the internet, and business. Dorsey cagily suggested that Twitter was indeed working on a new business model, but refused to elaborate.

His sentiments, though, were supported by Barry O’Neill, who founded web company Other Ventures, who said that Ireland could carve out a niche for itself in the gaming sector.

“Gaming jobs already in Ireland are great but they are transient,” he said. “Research and development labs and creative studios are what’s needed to create a viable and vibrant industry in this country.”

O’Neill suggested that Ireland needed to change its tax regime to attract developers.
He was supported in this by David Coghlan, managing director of gaming company Havok, who said that the Irish school system could be used to encourage students to seek careers in game development. 

“Perhaps there is a role there for the industry to show that these subjects are not abstract but can be used to create very compelling images on the screen,” he said. “If we do that we can also earn kudos from the likes of Government in tackling what is a very serious problem.”