§ Mr. BeggsTo ask the Secretary of State for Northern Ireland what action is being taken to support Northern Ireland's(a) existing and (b) new (i) high technology and (ii) telecommunications industry and entrepreneurs; and if he will make a statement. [128294]
§ Mr. PearsonInvest NI has focused significant resources in these areas in its overall drive to support existing companies to become more innovative and competitive and to encourage the formation of new, entrepreneurial, business starts. Support for existing hi-tech and telecommunications companies during 2002–03 resulted in companies bringing forward business proposals representing a total investment of almost £109 million, against which Invest NI offered £14.3 million in support. In addition, the Agency assisted the formation of 74 new, potentially high growth companies in these sectors.
In driving forward this work, Invest NI uses a broad range of measures designed to help all companies, both existing and new starts, increase their capability. These include fostering greater innovation, increasing levels of R&D, developing external trade and utilising a variety of other business improvement tools.
During its first year of operation, Invest NI played a key role in establishing the Northern Ireland Science Park and it also provided £26 million to assist the establishment of 17 centres of research excellence, the majority of which are focused on high technology sectors. In addition, Invest NI has drawn up a series of Sector Strategies aimed at maximizing the economic development potential for a range of industrial sectors including hi-tech and telecoms.
This work provides an important demonstration of Invest NI's commitment to engage with companies, higher and further education establishments, centres of research excellence, science parks and other research organisations in developing hi-tech start-up businesses. In addition Invest NI is working closely with the education sector and others to encourage entrepreneurship in Northern Ireland.