To compete and grow in today’s global economy, Irish industry must be innovative, competitive and show the leadership capability to develop scale and sustain positions in international markets.
Ireland’s economic success depends on it.
The Irish economy has changed radically over the last decade and is now one of the most open and integrated in the world. Irish businesses are operating in a globally competitive environment, and are faced with ongoing and accelerating change.
International markets are increasingly complex, evolving more rapidly and subject to greater global competition.
Economic conditions and markets will continue to be more challenging. To thrive in this environment Irish industry must innovate, internationalise, show strong leadership and build competitiveness and capability.
Driving export growth
Ireland’s economic success is intrinsically linked to Irish industry achieving sales in international markets.
Enterprise Ireland’s core objective is to drive export growth. To obtain increased national and regional prosperity we are setting ambitious growth targets in partnership with Irish industry.
Enterprise Ireland is deeply committed to creating and growing internationally competitive businesses and facilitating entrepreneurship throughout the country, which will in turn have significant input into local communities and regional economies.
In 2008-2010 we will implement a strategy to continue to underpin and grow a strong, sustainable and world-class indigenous business sector. Enterprise Ireland will support Irish companies to secure existing growth, capitalise on emerging opportunities, and position for future growth.
Driving innovation
Innovation will be the single greatest enabler of continued success for Irish industry.
The pace of innovation is accelerating in the globalised economy. Continually evolving and diverse markets are subject to increasing global competition which is underpinned by the mobility of knowledge and capital, and the flexibility of competitor companies. Technological progress and new ways of doing business set new standards and make new demands of firms.
A natural consequence of this change will be the introduction of new business models and the emergence of new markets, such as those related to servicisation. In the future many Irish companies, including those in manufacturing, will gain a greater proportion of their revenues through offering innovative services as part of their business.
Innovation is about the ability to successfully meet these rapid changes with market and customer-led solutions. Consequently, Transforming Irish Industry 2008-2010 is a strategy with innovation at its core, recognising that the focus must be on developing and applying new knowledge and new ways of doing things.
Intrinsically linked to growth and innovation are the management and leadership capabilities of Irish industry. Ireland needs strong management capability to drive the creation and development of innovative companies that can adopt new business models, respond to the ever changing needs of customers and achieve scale.
The development of innovative products and services by start-up companies with a high potential to grow, underpinned by the effective and imaginative use of technology, will be the lifeblood of the Irish economy. Supporting these companies is a key objective for Enterprise Ireland.
Enterprise Ireland will support Irish industry - in rapidly and effectively developing and profitably commercialising new processes, products and services; in acquiring, developing and integrating the technologies and supporting knowledge required; and in developing the leadership skills and capability of company management necessary to drive innovation.
Increasing innovation at all levels of Irish industry, to drive export growth and ensure Irish companies achieve strong positions in international markets, is critical for increased national and regional prosperity.
