UK Research and Innovation (UKRI) has released a report showing that Northern Ireland has seen a bigger percentage increase (43%) in investment in research projects than elsewhere in the United Kingdom.
Comparing the level of investment from 2021-22 to 2023-24, NI experienced the greatest proportional increase of any UK area. Total investment in the region increased from £61 million to £87 million over the same period.
UKRI invested over £9.1 billion in the UK’s research and innovation system in 2023-24, meaning NI businesses have access to a vast pool of untapped innovation funding opportunities.
Recent UKRI investments in NI include:
- Centre for Secure Information Technologies – first established in 2009 as one of seven innovation and knowledge centres, it now comprises more than 125 companies employing approximately 2,750 cybersecurity professionals in the Belfast area, supporting over £237 million gross value added to the Northern Ireland economy.
- EPIC Futures is working towards a prosperous and sustainable future for Northern Ireland, a partnership bringing together business, academia, policymakers community and voluntary sector to tackle local challenges.
- Smart Nano creates advanced prototyping and smart manufacturing methods, leading to new technology – it has already attracted more than £20 million in private investment and early successes include a less invasive way to test for breast cancer.
- Decarbonisation of Marine Transport is building on Belfast’s maritime heritage to develop zero emissions hydrofoil ferries, helping to make Belfast Harbour one of the world’s most environmentally friendly regional ports. The project is expected to create more than 1,000 new jobs in the region over 10 years and boost the local economy by £129 million.
Find innovation support for your business
There is a range of resources to help your business on its innovation journey on the nibusinessinfo.co.uk website and with other local organisations.
