nisp connect overview - stakeholder lunch 06-2014 (v2)

NISP CONNECT

The Vital 6%

Partner Thank You!

Review and preview June 2014

Professional & Strategic Partners

Capital Providers

New Company Creation Process

NISP CONNECT Vision

The transformation of Northern Ireland into one of the most entrepreneurial knowledge

economies in Europe by 2030.

Knowledge Economy Targets

Source: Oxford Economics. Targets generated at the NISP CONNECT knowledge economy stakeholder conference Feb 2012

Baseline Most recent data 2011 or *

denotes 2012

Aspirational Trajectory

2009 2015 2020 2030Knowledge economy – Total employees 30,600 33,370 41,030 57,500 71,250Number of innovation businesses 2,100 2,415 2,940 3,920 7,000

New innovative start up companies required annually 200 295 260 320 500

Venture capital invested annually £12M 2* 21 34 £90mTotal expenditure on R&D £500M 520 600 730 £1,050mScience and technology grads 57,300 73054* 60,980 64,230 71,250

Understanding the BlockersRisk Capital

NI’s current model of risk capital intervention is too small in scale and ineffective in operation to achieve the 2030 KEI investment targets.

Talent

We need stronger management teams to form and grow start up companies

and…

There is a mismatch between demand required to grow innovative companies and supply of key talent disciplines.

Culture

We need our kids to aspire to be successful in the knowledge economy, not the professions

and…

We must foster a culture where businesses collaborate to compete.

Source: Blockers identified at the NISP CONNECT knowledge economy stakeholder conference Feb 2012 and researched in the Tiger Team stakeholder analysis throughout 2012

Achievements- DETI Innovation Strategy

2014 collaborations - NICEP @ University of Ulster- FSB

- Common data: Matrix, Momentum, Invest NI

Ideas for 2015- Collaboration with InvestNI – unite the clans- DETI Communications strategy

PROGRAMME CHANGES• Innovation Assessment• Core Programme changes

– Intake panel enhancement– Additional panels

• Marketing• Financial

– Final panel review• Recommendations incorporated

• Capital Competition– Objective (marked) business review– Introduction to risk capital

PROGRESS FY14/15

Companies in Process = 17 Graduates = 2Pipeline = 33

Achieved-92 applications, unprecedented exposure for innovators

2014 collaborations (promotion, judging)- Momentum - IET

- Digital Circle - NIFDA

- ADS - BioBusiness

-Sentinus, LEAs, QUB SU, CultureTech, NI CONNECTIONS

Ideas for 2015- LEAs: Competitive @ local level- Annual homecoming for the Diaspora- The INVENT Retreat (the world’s top 100 inventors)- Broadcast media

Achieved

- 3 forums (beer and pizza)

- 26 founders presented to 50 potential co-founders

2014 collaborations (promotion, judging)

- Engineering: ADS & IET & NIACE

- Life sciences: Biobusiness

- Tech: Momentum

Ideas for 2015

- Need more co-founders

- Need more founders

Achieved

The Night of Ambition

2014 collaborations

Young Enterprise Northern Ireland

CultureTECH / Generation Innovation Conference

Careers Teachers conferences

SentinusBTYSE

Institute of Physics

Ideas for 2015- A peer driven movement of Northern Ireland’s most ambitious young people- Hackathons, bootcamps, mentors- Unite the clans

- YENI, Sentinus, W5, CultureTECH, BTYSE, Fablabs,, BringITon, ASE, Farset Labs, School Employer Connections, FE/HE, Creative Learning Centres

Achieved

- 16 workshops

2014 collaborations- Content: IOD, BioBusiness- Hosting: CIDO, NIACE, CultureTech

Ideas for 2015

- University On-Campus

We supported

• IET – prestige lectures– Honouring Bombardier– Wrightbus

• IOP• Friday Night Mashup• Momentum• Tech City National Cluster Alliance• #BrandNI