ENTREPRENEURSHIP &
EDUCATION
Incubating
potential
The North West Regional Science Park (NWRSP)
is up and running and the two locations in Fort
George, Derry~Londonderry and Letterkenny,
Donegal are using world-class facilities to build
innovation ecosystems to help the region’s
knowledge-based economy prosper.
I
n conjunction with Northern
Ireland Science Park (NISP) in
Belfast, the Innovation Centre
in Derry~Londonderry and
CoLab at the Letterkenny Institute of
Technology (LYIT), Donegal bridge
the gap between higher education
and commerce by making the
process of going from graduation
to startup as seamless as possible.
With office space that ranges from
hot desks for budding entrepreneurs
to bespoke offices for multinationals,
tenants can avail themselves of all
the support needed to bring their
ideas to life.
The ecosystem that grows
around the juxtaposition of startups
and multinationals is perfect for
innovation, says Paul Hannigan,
President of LYIT and who, along
with Dr Norman Apsley, is one of the
primary drivers of the NWRSP. “Our
innovation centre, CoLab, has built
a strong brand over the years and
now that we’ve expanded with the
NWRSP, we’re the biggest incubation
centre in the country.
“We’ve had a number of
multinationals set up here in
Donegal, employing many of our
graduates over the past 10 to 15
years, but we saw the need to attract
people who wanted to start up their
own businesses. Building up the
innovation ecosystem and offering
exciting new jobs and opportunities
creates a lot of energy. Startups are
exposed to established companies
while those working at multinationals
might spin out their own businesses.
We can see them all feeding off each
other.”
“Getting the support system right
was very important,” says Dr Apsley,
Chief Executive of the NISP. “We
say that we are only two degrees
of separation from anybody or any
‘body’ that would-be entrepreneurs
need to know. Using the CONNECT
Dr Norman Apsley, OBE, Chief Executive, Northern Ireland Science Park
model, which originated in
California, our team of facilitators
develops a network relationship on
behalf of entrepreneurs so they don’t
have to. Ultimately, it means that an
entrepreneur’s business model has
been tested almost to destruction
to be sure that they have found the
right way for their particular idea to
reach the market before it gets near
an investor.
“We have become known for
companies who can go anywhere in
the world and make the best pitches
because they completely understand
their business function and the
opportunities available. We also
have an organisation, Halo, that trains
new high net worth Angels in what to
expect from a new startup and vice
versa and teaches them how to talk
to each other.”
The future
Paul Hannigan, President, Letterkenny Institute of Technology
Page 10
10-11.indd 10
“What Paul and I are finding, is that
the companies that the government
calls foreign investors are changing
how they work in the region,” Dr
Apsley continues. “Before the
Science Park, they would come to
the area, buy an empty factory or
office and bring in staff, but they
wouldn’t have the deep roots to
ground it in the region. Now, they’re
coming to buy companies that
we’ve started so the deep roots are
already there in the knowledge and
experience of the people. These
foreign investors are now acquiring
talent, not just a foothold in the
market, and that locks that company
here.
“At the moment, the knowledgebased economy accounts for 1 in 10
jobs here, but I think we can reach
1 in 3, but that requires a workforce
as widely qualified as possible and
that’s down to education teaching the
necessary skills, including computer
literacy, early on so that everyone
can take part.”
“Nationally, this region is punching
above its weight in the business
incubation and innovation sector
at the moment,” says Mr Hannigan.
“With the facility that’s here and the
work we’re doing, it’s recognised
by the people in the community as
something that can benefit everyone,
not just the Institute.”
Nationally, this
region is punching
above its weight
in the business
incubation and
innovation sector
at the moment
The North West Regional Science
Park partners and stakeholders were
delighted to receive the prestigious
‘Sail of Papenburg’ Cross-Border
Regions Award 2015 on 12 November.
This award is bestowed annually by
the Association of European Border
Regions (AEBR), and is awarded to
border and cross-border regions
showing outstanding programmes
and projects that are an exemplar of
cross-border cooperation.
GEN Magazine Ireland
29/11/2015 6:57 p.m.