Innovation is key to that and a top priority of the Executive as reflected in today’s announcement of a new Innovation Fund within the budget.
The visit of the European Commission’s Director General for Research and Technological Development, Mr JM Silva Rodriguez, is the latest development in the work of the special EU taskforce set up last May.
Mr Rodriguez is Europe’s leading official on research and technological development policy and is expected to provide help and guidance on how we can make best use of money from both European funding programmes and the local budget.
Junior Minister Ian Paisley Jnr said: “It’s a real honour to have Director General Silva Rodriguez taking time to visit Northern Ireland and share his knowledge and expertise.
“Today’s visit shows once again the level of commitment and support the EU Commission has for our mission of building a peaceful and prosperous society as well as a dynamic, thriving economy.
“The budget announcement today includes a new £90million fund over next three years and our own EU funding programmes are expected to spend some £450million on innovation here over the next seven years. We want to add to that from the EU wide Innovation Programmes such as the 7th Framework Programme and to do all we can to make sure we spend the money as effectively as possible,” Mr Paisley Jnr added.
Junior Minister Gerry Kelly said they also hoped to explore ways that the Executive and local companies could take a more innovative approach to business.
“The Executive has set the development of a dynamic and competitive economy as a top priority and the key to delivering that is innovation.
“We will be looking to the Director General to share best practices on innovation and competitiveness, from across Europe, with us to make sure our money is best used.
“Innovation means constantly looking for new ways to meet the needs of customers while ensuring you have a competitive edge. It covers every aspect of business performance and can come with changes such as how you market and manufacture your products as well as how you train people.
“Another vital aspect is looking at how we transfer the specialist scientific research and development knowledge in our universities to the business community to ensure they stay ahead of the competition,” explained Mr Kelly.
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