Matrix - Northern Ireland Science Industry Panel

MATRIX, the Northern Ireland Science Industry Panel, today welcomed details of the 'Grant for R&D' programme unveiled by Enterprise Minister Arlene Foster, describing it as a "significant, forward-thinking initiative" that will help to encourage the development of a sustainable and innovative knowledge economy in Northern Ireland.

Professor Damien McDonnell, Chair of MATRIX, said:
"MATRIX welcomes today's launch by the Minister of a new, more accessible programme of R&D support for companies across Northern Ireland. This is a helpful step in our goal to create a world-class, knowledge-based economy focused on seizing emerging global market opportunities.

"Northern Ireland is brimming with ideas, talent and skills and we believe that this Invest NI initiative will help to harness these in a constructive and meaningful way by making it easier to access public sector support for R&D investment.

The MATRIX panel looks forward to working closely with Invest Northern Ireland in the months ahead as we continue to seek ways to improve the effectiveness and competitiveness of our economy over the medium to long term."

Invest Northern Ireland's 'Grant for R&D', which is part-funded by the European Regional Development Programme, will make it easier for companies to access financial support from the £50 million allocated by Invest NI, to promote investment in innovation-focused projects from 2008 to 2011.

MATRIX, which has brought together more than 80 of the biggest names in local business including Bombardier Aerospace, Randox, DuPont, Almac and Moy Park, is a business-led expert panel, formed in February 2007. It was set up to provide advice to Northern Ireland's Enterprise Minister on how best to maximise commercial and economic gains from the exploitation of Northern Ireland's R&D and science and technology strengths over the next decade and beyond.
 
In the intervening 18 months, MATRIX - and its future-focused Horizon sub-panels - developed an eight volume report which sets out a series of complementary sectoral and macroeconomic recommendations for the Minister's consideration. The report has been welcomed by the Minister.