Innovation challenge for business in NI

Every business in the North was challenged today to take a look at what they do and see how they can do it better.

Launching Innovation Week 2007, Enterprise Minister Nigel Dodds said innovation was central to making companies grow and increasing profits.

An extensive programme of events is being held right across the North throughout the week to encourage businesses to explore innovative ways of doing things.

Just because ways of doing something have stood a company in good stead for years, doesn’t mean they can’t be improved on will be the message of the week.

“We are trying to urge local companies to embrace innovation to improve their competitiveness,” said Mr Dodds.

Innovation did not necessarily involve massive investment in technology, the minister stressed.

He added: “In terms of Northern Ireland low costs and low wages are not going to work. So we are encouraging companies to focus on how they can do things better, make things better and add value to what they do.

“They should look at things like better and more efficient processes, being better at making product, improving management practices.”

Every company, big, small or somewhere in the middle should seek to innovate, said Mr Dodds.

Innovation Week has been designed to promote innovation and its benefits, by demonstrating how even simple measures can help businesses remain competitive in modern, fast moving global markets.

Practical advice will be given on how to unlock hidden potential and help local firms realise how innovation can deliver increased profits, new market opportunities and success.

Central to the week will be a three-day innovation exhibition held at St George’s Market in Belfast – demonstrating world class examples of innovation, product design and creative thinking.

Practical workshops will be delivered by industrial experts including Italian designer Alberto Alessi, Formula One’s Gary Anderson and Michelle Mone, boss of lingerie company Ultimo.

Mike Harris, the founder of Egg and local explorer and architect Dawson Stelfox make up the team of experts.

The three-day exhibition will be complemented by a series of events in Belfast which will focus on young people, business education partnerships, women and the benefits of design.

A roadshow will also travel to Omagh, Newry, Derry and Ballymena to showcase world class products and services created by local innovators, all to help more companies unlock their potential.

Tracy Meharg, MD of innovation and capability development at Invest NI which has organised Innovation week, said every local company could increase their profitability through innovation.

“Innovation isn’t just about high level research and development. Innovation can be as simple as identifying areas for improvement in everyday processes and implementing straightforward changes, cutting costs and increasing competitiveness,” she said.

Ms Meharg added: “We will demonstrate how local firms can make innovation an integral part of their business operations and how they can stimulate creative thinking in their staff. This can result in more streamlined processes and can produce ideas which lead to new products.”