Enterprise Ireland
Annual Report and Accounts 2007
Annual Report and Accounts 2007
In the context of regional and all-island economic development, Enterprise Ireland is continuing to act for effective cross-border cooperation through a growing number of initiatives and collaborations.
One of Enterprise Ireland’s most significant cross-border collaborations is with Invest Northern Ireland. In November 2006 a Memorandum of Understanding was signed between the two agencies facilitating companies from each jurisdiction to participate in selected international trade missions and trade fairs and to gain access to the overseas office services of the other. During 2007 three Enterprise Ireland trade missions took place with Northern Ireland company participation.
In September 2007 the two agencies launched a new initiative, TRANSFORM - Ideas into Businesses, strongly supported by the Special EU Programmes Body (SEUPB). A year-long programme, this identified 43 new entrepreneurs with ambitious business ideas with the objective of putting them through an intensive business development programme to get their projects ‘investor ready’.
Collaborative activities are also taking place in the development of business networks. Enterprise Ireland and InterTradeIreland continue to fund the Business Angels Network. Additionally, Enterprise Ireland’s Industry Led Networks pilot initiative, involving groups of companies collaborating on industry or sectoral issues, facilitated participation by enterprises from Northern Ireland in 2007. Of eight projects approved so far, three include participation by Northern enterprises.
Also during the year 150 business leaders, researchers and business support agency representatives attended Ireland’s first All-Island Business Networks Forum, hosted jointly by the island’s five enterprise development agencies.
In the area of innovation and R&D, the Innovation Vouchers scheme launched in the Republic in 2007 will extend to the North in 2008 in cooperation with Invest Northern Ireland. Also, Enterprise Ireland’s National Director for the Seventh EU Framework Programme for Research and Technological Development (FP7) and the Northern Ireland Coordinator for the programme are liaising closely on the opportunities for North-South cooperation and this will facilitate more targeted promotional activities on an all-island basis.Ongoing work with InterTradeIreland includes supporting programmes that stimulate cross-border trade, knowledge and technology between industry and academia, all-island collaborative R&D and the development of the equity markets.
Enterprise Ireland has also developed important links with a range of other cross-border bodies, including the International Fund for Ireland, Enterprise Equity and SEUPB.
