Economy minister Conor Murphy’s new “economic mission” is ambitious, and last week’s venture capital conference from IntertradeIreland was a great way to kick off. But we need to ensure that commitment and support for innovation in established businesses is quick to follow.
The new strategy from Stormont, aimed at guiding Northern Ireland towards a brighter future, is a forward-looking plan anchored in four critical areas: fostering good jobs, achieving regional balance, enhancing productivity, and committing to the reduction of carbon emissions.
This strategy is more than just another policy document, and it serves as a clarion call to Northern Ireland’s leaders – from across the political spectrum - to adopt a culture of innovation and forward-thinking.
Central to Stormont’s approach is the understanding that today’s challenges demand more than simply trying harder or putting in a few more hours. We need a real shift that places innovation and creativity at up front and central to real progress.
Stormont’s pledge to create meaningful employment opportunities is commendable. To realise this vision, we’ll need to look beyond traditional methods. We need to innovate how we develop our workforce, design training programs, and create jobs, ensuring that emerging jobs are not just robust, but also rewarding and resilient.
To distribute economic growth evenly, we must find different strategies that bolster investment, support local entrepreneurship, and enhance infrastructure across all areas. Collaboration is key to changing anything and promoting innovation hubs and entrepreneurial ecosystems can unleash the potential of every community.
Boosting productivity is essential for economic vitality and global competitiveness. We can’t just keep doing the same thing and hoping for a different outcome. We need to look for fundamentally different solutions to long standing challenges, and we should look at clusters, industry or academia collaboration, and advanced skills training to elevate productivity and to see Northern Ireland as a leader on an international stage.
Combatting climate change will require every business to play their part and to look for alternative ways to deliver products and services. Stormont’s pledge to curb carbon emissions and promote sustainability won’t be achieved by waiting for start-ups, research institutes, or the next generation’s workforce to find a solution. That will simply be too late.
Stormont’s strategy represents a significant desire to transform Northern Ireland, with innovation at its core. Embracing a culture of creativity, collaboration, and continuous learning is vital for converting these ambitions into reality.
We need to get past the hype around the word innovation and accept that it is the key to unlocking the potential of the region, and in leaving a hopeful and prosperous legacy for future generations.
- Charlie Tuxworth is managing partner at innovation consultancy www.celsiogroup.com
