20 November 2024

Northern Ireland sees £4million grant scheme launched to help businesses innovate

Northern Ireland's Economy Minister Conor Murphy has launched The Business Innovation Grant (BIG), a new £4.3 million initiative designed to help businesses across Northern Ireland embrace innovation and boost productivity and competitiveness.

Developed by Invest Northern Ireland and delivered in partnership with Innovate NI, BIG is aimed at micro-businesses, sole traders, and SMEs and will offer grants from £5,000 to £20,000.

Launching the scheme, Minister Murphy said:

"We know businesses that innovate achieve higher levels of productivity and efficiency. Our goal is to make innovation accessible and desirable across sectors, particularly those that have traditionally been less active in this space or who may not have had the opportunity to access support.

"BIG opens doors for more businesses to innovate by removing financial barriers, making innovation more accessible. This support, extends to businesses beyond the Invest NI client base and reflects my plan of building a balanced, resilient economy built on high-quality jobs, productivity, and sustainable growth across every region."

Parliamentary Under-Secretary of State for Northern Ireland, Fleur Anderson, also said:

"It was a privilege to attend the launch of this fantastic initiative that will accelerate innovation for many ambitious businesses across Northern Ireland.

"Economic growth is this Government's number one priority, and we are committed to working with all partners to ensure Northern Ireland continues to be a fantastic place to live, work and invest.

"It is through this commitment that this scheme has received £440,000 from the UK Government through the New Deal for Northern Ireland."

BIG is open to businesses who are not currently Invest NI clients or who have not received Invest NI grants in the past five years.

Alan McKeown Executive Director of Regional Business at Invest NI added:

"BIG is designed to remove key barriers that have held many businesses back from innovating, providing targeted support at vital stages of their growth journey. Today's launch of BIG helps Invest NI diversify and broaden the types of businesses we work with. BIG demonstrates us taking tangible action on this, with the scheme specifically targeted to businesses which are not Invest NI Clients.

"'By working closely with local Councils and enterprise agencies, BIG opens up new avenues to deepen regional partnerships, enabling us to reach and support businesses across Northern Ireland that can truly benefit from this programme."

Pictured (L-R) are Conor Murphy, Minister for the Economy; Fleur Anderson, Parliamentary Under-Secretary of State for Northern Ireland; Alan McKeown, Executive Director of Regional Business, Invest Northern Ireland; Karen Finlay, European & Partner Delivery Manager, Invest Northern Ireland.