Business First December 2017 December BF Digital | Page 40

INTERTRADEIRELAND
€16.6m of funding now available for
SMEs through the Co-Innovate
programme
M
ore than 1,400 SMEs are set to benefit
from €16.6 million of new investment
aimed at encouraging research and
innovation in businesses across Northern
Ireland, in the border counties of Ireland and
areas of western Scotland.
The five year Co­Innovate project,
supported by the European Union’s
INTERREG VA programme, managed by the
Special EU programmes Body, was launched
recently in Co Monaghan.
Co­Innovate is focused on increasing the
proportion of small and medium enterprises
(SMEs) and micro­businesses involved in
cross­border research and innovation
collaboration from 22 per cent to 33 per cent.
It brings together these regions’ key
development agencies to deliver a
programme aligned with each government’s
strategic priorities, led by cross­border body,
InterTradeIreland, in partnership with
Enterprise Northern Ireland, East Border
Region, Local Enterprises Offices in the
border reg ion, Scottish Enterprise and
Highlands and Islands Enterprise.
Welcoming the funding at the Co­Innovate
launch, Dr Andrew McCormick, Permanent
Secretary for the Department for the
Economy, said: “I’m a firm believer in the
power of innovation to act as a catalyst for
economic growth and prosperity.
“With Co­Innovate, we have a unique
opportunity to drive innovation capacity
among our small and medium enterprises.
“SMEs are fundamental to the economy in
Northern Ireland, representing 75 per cent of
our private sector turnover and employment;
significantly more than for the UK as a whole.
“Co­Innovate will provide practical
assistance to our SMEs enabling them to work
towards turning innovative thinking into
noticeable results which will generate a
tangible legacy for years to come.”
Match­funding for Co­Innovate has been
provided by the Department of Business,
Enterprise and Innovation in Ireland, the
Department for the Economy in Northern
Ireland, Scottish Enterprise and Highlands
and Islands Enterprise.
It is one of 60 funding programmes across
the European Union that have been designed
to help overcome issues that arise from the
existence of borders.
Speaking at the launch event, Gina McIntyre
Chief Executive Officer of the Special EU
Programmes Body, said: “The Co­Innovate
project will allow the region to make a
significant contribution to the achievement of
38 www.businessfirstonline.co.uk
Boost for Business: Neil Ryan (Co‑Innovate Programme Director), Minister Heather Humphreys TD,
Gina McIntyre (Chief Executive SEUPB) and Andrew McCormick (Permanent Secretary, Dept of the
Economy) pictured at the launch of the Co‑Innovate Programme. Led by InterTradeIreland, the €16.6m
scheme aims to increase the number of SMEs involved in research and innovation to 33 per cent over
five years. It is open to companies in the border region of Ireland, Northern Ireland and parts of western
Scotland.
the European Union’s 2020 target of
increased investment in research and
innovation.
“The region, as a whole, is still
characterised by low levels of innovation
activity. Cross­border co­operation can
however be used to help address this issue,
by encouraging new partnerships between
business and relevant research institutions.
“By working together through the Co­
Innovate project, on a cross­border basis,
participating businesses will become
‘innovation active’ and thereby more
competitive and profitable.”
Co­Innovate gives companies the tools and
tailored support to help businesses innovate,
differentiate and compete successfully.
The programme offers graduated levels of
support including free workshops, individual
business health checks, detailed innovation
audits, sectoral networks, project
management placements and one­to­one
expert mentoring.
Neil Ryan, Co­Innovate Programme
Director, said: “Every company’s innovation
needs are different so each company’s
journey through Co­Innovate will be unique.
“Over 1,400 businesses will receive support
at Co­Innovate workshops over the next
number of years.
“These workshops are aimed at
demystifying innovation and helping firms
understand how it can drive their company’s
growth and profitability.
“Companies who complete our workshops
and subsequent assessments will be selected
to take part in advanced programme
supports. These advanced supports are
designed to help develop detailed innovation
delivery plans: bringing ideas to fruition.”
Companies in Northern Ireland interested
in participating in the programme should
visit www.co‑innovateprogramme.eu for
further information on how to register their
interest and a list of free local half day
workshops.