Innovation Strategy – Have Your Say

Business views sought on draft Innovation Strategy that aims to stimulate R&D, innovation and creativity across the economy

Enterprise Minister Arlene Foster has today published a draft Innovation Strategy that aims to stimulate research and development (R&D), innovation and creativity across the economy.

The economic importance of innovation

Announcing a 12 week consultation, Arlene Foster said “The Northern Ireland Executive has placed innovation at the core of its drive to rebalance the economy.

“Last year, the Executive published an Economic Strategy that outlines a range of actions designed to increase employment and wealth through building a larger and more export-driven private sector. The draft Innovation Strategy seeks to expand upon this priority to enable Northern Ireland to be recognised as one of the UK’s leading high-growth, knowledge-based regions.

“Innovation is critical to our future prosperity because it drives economic growth. Companies who are innovative have seen their employment and sales grow twice as fast as their non-innovating competitors and they are also significantly more productive. This enables firms to stay ahead of competitors and with global economic conditions remaining challenging, the focus on innovation in Northern Ireland is now more important than ever.”

The Innovation Strategy sets out the key long term actions necessary to ensure that innovation plays its full part in realising the vision of the Economic Strategy. It aims to transform and stimulate the step change needed to drive innovation across the economy.

The Minister continued: “In recent years we have seen record expenditure in R&D and many of our companies are continuing to be world leaders in their sector. However, we need to build on this success and support more local companies engaged in both innovation and exporting activities.

Make your opinion count

“This is an ambitious strategy and the challenge of such a transformation should not be underestimated. Its delivery will require collaboration, partnership and leadership from the Executive, business, academia and the third sector. I invite everyone to consider this strategy and offer views on what actions are needed to help transform Northern Ireland into one of the most innovative regions in the UK.”

All responses to the consultation must be received by DETI by 16 December 2013.

You can access full details on the draft Innovation Strategy and how to respond on the Department of Enterprise, Trade & Investment (DETI) website.