Northern Ireland businesses to benefit from new £15m investment fund
Around 1,400 small and medium-sized businesses across Northern Ireland, and elsewhere in the UK, are set to benefit from a new £15m investment fund.
The five-year Co-Innovate project is supported by the EU and managed by the Special EU programmes Body. Co-Innovate is focused on increasing the proportion of small and medium enterprises (SMEs) and micro-businesses involved in cross-border research and innovation collaboration.
Dr Andrew McCormick, permanent secretary for the Department for the Economy, said: "I'm a firm believer in the power of innovation to act as a catalyst for economic growth and prosperity. With Co-Innovate, we have a unique opportunity to drive innovation capacity among our small and medium enterprises.
"SMEs are fundamental to the economy in Northern Ireland, representing 75% of our private sector turnover and employment."