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Catalyst launches Open Innovation Service to help companies ‘innovate at pace’

Science and technology hub Catalyst has today launched their Open Innovation service, designed to help companies of all sizes, across all sectors […]

March 19, 2024

Science and technology hub Catalyst has today launched their Open Innovation service, designed to help companies of all sizes, across all sectors in Northern Ireland and the northwest region of Ireland to unlock their innovation potential.

Catalyst believes that in the face of demand for delivery today, many companies are not investing enough in innovation for the future, and in some cases do not invest in it at all.
The Open Innovation team at Catalyst aim to make it easy for ambitious organisations to innovate at pace, by helping them navigate the innovation landscape and collaboratively leverage R&D options and Catalyst’s expertise to solve real problems and create new opportunities.

Its team will collaborate with public bodies and companies at all stages of growth, from tech start-ups, through to SMEs and multinational corporations – helping them to maximise their internal innovation potential, harness external networks and cultivate a collaborative mindset.

Adrian Johnston, Director of Strategic Business Development at Catalyst, said: “For businesses that are ambitious, seeking to scale and gain a competitive advantage, innovation is crucial. But innovation is hard and very few companies possess the resources to meet all of their innovation needs internally.
“In the current landscape, it’s imperative to provide companies with the necessary support for innovation, particularly when it comes to addressing pressing global issues like the environmental impact of Artificial Intelligence (AI) for example. While AI is celebrated for its transformative potential, it’s crucial to recognise the significant regulation and carbon footprint associated with its development, maintenance, and disposal.”

“Through Catalyst’s Open Innovation service, we will offer business growth support and help companies access that competitive advantage by opening the doors to collaborative external networks, mentors and the resources they need to build their next service, product or process.”

He added: “Innovation is about more than taking time, space, and resources to come up with ideas. It’s only fully unleashed when there is the right network and the right partnerships in place.
“Our unique proposition is to make it easy for companies across all scales and sectors to innovate at pace by acting as an extension of their team and leveraging the power of our network to get things done.”

The Open Innovation team at Catalyst has already engaged with several companies, applying their methodology and expertise to understand their business and map innovation pathways.

Additionally, Catalyst is actively collaborating with various industry clusters and participating in global innovation zones to foster cross-sectoral innovation and facilitate knowledge exchange on a global scale. Catalyst is deeply involved in the development and implementation of regulatory technology (regtech) solutions, aiming to streamline regulatory compliance processes and enhance operational efficiency for businesses across different sectors.

Visit our Open Innovation page to learn more.

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