Job Opening: New heroes
required!
Northern Ireland needs new
Entrepreneurs and Innovators
12th September 2013
Steve Orr, Director, NISP CONNECT
Introduction
Steve Orr
Entrepreneur
NISP CONNECT
New Company Creation Process
Professional &
Strategic Partners
Capital Providers
The Burning Floor
We need to create new products
that people around the world want to buy
“You need to prioritise the creation
of new innovative companies”
New Approach to Economic
Development for Innovation*
Old Industrial Age
New Knowledge Age
Macroeconomics:
Microeconomics:
Infrastructure.
Labour.
Land.
Capital.
Ideas.
Capital.
Talent.
Business-led independent
collaboration with academia
and government.
*Hwang & Horowitt 2012 “The Rainforest: How to build the next silicon valley”
NISP CONNECT Vision
The transformation of Northern Ireland into
one of the most entrepreneurial knowledge
economies in Europe by 2030.
The transformation
What
of Northern
will
Ireland into
one of the most entrepreneurial knowledge
economies in Europe Look
by 2030.
like?
Knowledge Economy Baseline
Baseline
2009
Knowledge economy – Total employees
30,600
Number of innovation businesses
2,100
New innovative start up companies
required annually
200
Venture capital invested annually
£12M
Total expenditure on R&D
£500M
Science and technology grads
57,300
Target
2030
Knowledge Economy Baseline
Baseline
2009
Target
2030
Knowledge economy – Total employees
71,250
Number of innovation businesses
7,000
New innovative start up companies
required annually
Venture capital invested annually
Total expenditure on R&D
Science and technology grads
500
£90m
£1,050m
71,250
The 2030 Result
An additional
£5 billion
GVA per annum
with companies anchored in NI
(Oxford Economics 2012)
WHAT’S STOPPING US?
Analysis & Methodology
#IdeaFest
100+
Participants
KEI Conference
Vision
Targets
Blockers
Tiger Teams:
Blockers
Solutions
70+ participant
Expert Group Workshops
THE BLOCKERS
(what’s holding us back?)
Understanding the Blockers
Talent
Culture
We need stronger
management teams
to form and grow start
up companies
We need our kids to
aspire to be
successful in the
knowledge economy,
not the professions
and…
There is a mismatch
between demand
required to grow
innovative companies
and supply of key
talent disciplines.
and…
We must foster a
culture where
businesses
collaborate to
compete.
Risk 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.
Solution – Culture
Business-Led
To be explored further:
1.
Brand the tech lifestyle &
sell differently to 11, 16, 22 yr
old and parents, principals,
etc.
Generation Innovation
expansion?
2.
3.
Foster innovation
Foster collaboration
Public Policy
Political leadership:
1. Adopt the KEI targets.
2. Raise the status of the
entrepreneur and the
innovator.
3. Make NI the best place to live.
More: Irish Open Golf, MTV,
G8…
Generation Innovation vision
By 2020 the majority of kids will aspire to a
career in ‘the knowledge economy’
Your responsibility
Careers teachers and parents are the most
important people
Influencing the direction of our young people
Chief Financial Officer
Software Development
Product Development
Venture Capitalist
Chief Executive
Supply Chain Management
Training
Accounting
Graphic Design
Business Analyst
Angel Investor
Quality Assurance
Management Consultant
Clinical Research Associate
Public Relations
Regulatory Affairs
Web development
Director of Scientific affairs
Director of Real Estate
Intellectual Property Lawyer
Founder
Vice President of Engineering
Account Executive
Sales Director
Marketing
Corporate Investor
Aspirations and Dreams
Accountancy
Law
Medicine
Aspirations and Dreams
Accountancy
Law
Medicine
Change the world
“Put a dent in the universe”
Steve Jobs
1955 – 2011
What you can do
• Generation Innovation: nominate now!
www.generationinnovation.co.uk
• Speakers at careers or prize days
www.founders4schools.org.uk
• Steer young people towards technical
careers or non-technical careers
Thank you