The 2018 Knowledge Report has set out the huge difference the knowledge economy could make to the overall economy by 2030. For a fifth consecutive year NI is the second fastest growing of the UK regions, but growth is slowing.
The report highlights skills, increasing innovation within business and creating an environment in which we can support start-ups to get to market and accelerate growth as the main factors that must be addressed.
The research shows that if we achieved the aspirations for the knowledge economy, there would be circa 80,000 jobs and £3.2bn GVA added to our economy. This will require an additional 2,500 skilled people coming into NI and will only be possible if we focus our efforts and our collective responsibility to act now.
The 2018 Knowledge Economy Report was supported by Bank of Ireland UK and independently produced by Ulster University Economic Policy Centre on behalf of Catalyst.
The Knowledge Economy Index uses key data year-on-year to compare our performance with other regions. It also monitors the availability of capital. The data helps policy makers and trade organisations plan and advocate effectively for sufficient workforce housing, transportation solutions, zoning and availability of resources. The report also serves as a recruiting and retention tool, demonstrating to research, leadership and management talent from around the world that Northern Ireland is a leading centre for innovation.
The NI Deal Tracker Report, produced by Catalyst, covers equity investment into Knowledge Economy businesses across Northern Ireland for 2021. This is the 4th year of the Northern Ireland Deal Tracker report.
In 2021, NI entrepreneurs raised a record £100m, an extraordinary 127% higher than 2020. Investment into new deals was up, larger funding rounds were raised and there were more international investors getting involved in the region for the first time. The challenge stated in previous NI Deal Tracker reports focussed very much around the need to attract more external capital to NI and this happened, with over 75% coming from mainly UK, Ireland and US.
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