Menu
05/09/2002
R&D investment to strengthen NI's knowledge base
Over £80m is expected to be leveraged by a new Research & Development (R&D) investment in centres of excellence in the province.
Speaking at the opening session of the US-Ireland Business Summit in Washington, Sir Reg Empey said that the funding would be used to assist companies and universities in Northern Ireland develop innovative products for global markets.
Sir Reg said the new R&D centres of excellence initiative is being created with European Union backing to strengthen the knowledge base of the Northern Ireland economy.
The Minister said support for the R&D drive is being provided by European Union PEACE II Programme through the Departments for Enterprise, Trade and Investment and Employment and Learning “to undertake commercially-focused R&D aimed at increasing company competitiveness.”
Sir Reg said: “This new investment in R&D reflects our recognition that innovation, knowledge generation and technology transfer are the key drivers of the modern economy.
“We anticipate that the funding support from the EU and Northern Ireland Departments will leverage a total investment in excess of £80 million over the next three years as participating companies develop the innovative products and processes required to achieve faster growth.
“Commercial and market orientated collaboration between industry, academia and government is essential and is central to the creation of a modern, knowledge-led economy.
“The new centres will sharpen the technical capabilities and overall competitiveness of our companies by adding substantial value to the commercial activities of these businesses,” he added.
The Minister said the investment in R&D was a further demonstration of the Northern Ireland Executive’s focus on initiatives, including the creation of the Northern Ireland Science Park, to strengthen and broaden the knowledge base of the local economy.
Sir Reg was speaking at the Summit’s opening session with Secretary Don Evans, US Department of Commerce and Mary Harney, the Republic of Ireland’s Deputy Prime Minister and Minister for Enterprise, Trade and Employment.
Over 300 senior representatives from industry, academia and the public sector in the US, Republic of Ireland and Northern Ireland are taking part in the three-day business Summit which ends on September 6.
(SP)
Speaking at the opening session of the US-Ireland Business Summit in Washington, Sir Reg Empey said that the funding would be used to assist companies and universities in Northern Ireland develop innovative products for global markets.
Sir Reg said the new R&D centres of excellence initiative is being created with European Union backing to strengthen the knowledge base of the Northern Ireland economy.
The Minister said support for the R&D drive is being provided by European Union PEACE II Programme through the Departments for Enterprise, Trade and Investment and Employment and Learning “to undertake commercially-focused R&D aimed at increasing company competitiveness.”
Sir Reg said: “This new investment in R&D reflects our recognition that innovation, knowledge generation and technology transfer are the key drivers of the modern economy.
“We anticipate that the funding support from the EU and Northern Ireland Departments will leverage a total investment in excess of £80 million over the next three years as participating companies develop the innovative products and processes required to achieve faster growth.
“Commercial and market orientated collaboration between industry, academia and government is essential and is central to the creation of a modern, knowledge-led economy.
“The new centres will sharpen the technical capabilities and overall competitiveness of our companies by adding substantial value to the commercial activities of these businesses,” he added.
The Minister said the investment in R&D was a further demonstration of the Northern Ireland Executive’s focus on initiatives, including the creation of the Northern Ireland Science Park, to strengthen and broaden the knowledge base of the local economy.
Sir Reg was speaking at the Summit’s opening session with Secretary Don Evans, US Department of Commerce and Mary Harney, the Republic of Ireland’s Deputy Prime Minister and Minister for Enterprise, Trade and Employment.
Over 300 senior representatives from industry, academia and the public sector in the US, Republic of Ireland and Northern Ireland are taking part in the three-day business Summit which ends on September 6.
(SP)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
26 November 2001
Minister consults on open-ended investment companies
The Minister for Enterprise, Trade and Investment has pledged a commitment from his department to providing a modern financial services regulatory framework in Northern Ireland relevant to the needs of local investment firms and investors.
Minister consults on open-ended investment companies
The Minister for Enterprise, Trade and Investment has pledged a commitment from his department to providing a modern financial services regulatory framework in Northern Ireland relevant to the needs of local investment firms and investors.
11 March 2002
Minister outlines tourism vision for North
At the recent Northern Ireland Tourism Awards, Minister for Enterprise, Trade and Investment Sir Reg Empey set out his vision for the potential of the tourism industry in the province.
Minister outlines tourism vision for North
At the recent Northern Ireland Tourism Awards, Minister for Enterprise, Trade and Investment Sir Reg Empey set out his vision for the potential of the tourism industry in the province.
06 December 2001
Empey details budget allocation for department
Sir Reg Empey, Minister for Enterprise, Trade and Investment, has detailed how his Department intends to spend its budget allocation for 2002/03. Commenting on the budget, Sir Reg Empey said his department’s provision of £256 million would allow the Department to meet its Programme for Government priorities and Public Service Agreement targets.
Empey details budget allocation for department
Sir Reg Empey, Minister for Enterprise, Trade and Investment, has detailed how his Department intends to spend its budget allocation for 2002/03. Commenting on the budget, Sir Reg Empey said his department’s provision of £256 million would allow the Department to meet its Programme for Government priorities and Public Service Agreement targets.
10 April 2002
SME sector is “backbone of Northern Ireland economy”
Small and medium sized businesses are the single greatest source of job creation in Northern Ireland the Stormont Minister for Enterprise, Trade and Investment has said. Speaking in Downpatrick on Wednesday April 10, Sir Reg Empey told a business conference that SME’s are the backbone of the Northern Ireland economy.
SME sector is “backbone of Northern Ireland economy”
Small and medium sized businesses are the single greatest source of job creation in Northern Ireland the Stormont Minister for Enterprise, Trade and Investment has said. Speaking in Downpatrick on Wednesday April 10, Sir Reg Empey told a business conference that SME’s are the backbone of the Northern Ireland economy.
07 August 2001
Empey highlights importance of enterprise economy
Minister for Enterprise, Sir Reg Empey, has highlighted the importance of an enterprise economy at the official opening of an extension to a concrete plant in Ballymena.
Empey highlights importance of enterprise economy
Minister for Enterprise, Sir Reg Empey, has highlighted the importance of an enterprise economy at the official opening of an extension to a concrete plant in Ballymena.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
