Research & Innovation

Research and Innovation Critical to Business Success Post Brexit

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Research and Innovation Critical to Business Success Post Brexit

Research and Innovation Critical to Business Success Post Brexit
October 18
10:29 2018

The Managing Director of the Industry Research and Development Group (IRDG) says increased investment in research and innovation by both the business sector and the State is critical in order for Irish businesses to survive the hard hitting impact of Brexit.

Denis Hayes says despite budget 2019 proposals State expenditure on research and innovation will need to increase further and become more flexible once the UK departs the EU. He also believes the current research and development tax credit regime alongside support for SMEs will need to be reviewed.

Denis was speaking ahead of the Leading Innovation for Business Growth Conference, which takes place in The Lyrath Hotel, Kilkenny on the 23rd of October. Over 350 of the country’s most innovative professionals will attend the event which is now in its 7th year.

Speakers set to take part in this year’s event include: Professor Gareth Jones, Global Thought-Leader and Business Advisor, Holly O’Driscoll, Global Design-Thinking Leader & Innovation Strategist, Procter & Gamble USA, Paul Young, Co-Founder and CEO, Cartoon Saloon and Louise Grubb, Founder and Chairman, Q1 Scientific.

Recent figures from the Department of Business, Enterprise and Innovation show a budgeted increase of 12% in spending on research and innovation for next year.

Speaking about the increase, Managing Director of the Industry Research and Development Group Denis Hayes says “IRDG welcomes the modest 2019 budgeted increase in spending on research & innovation by the Department of Business, Enterprise and Innovation particularly the commitment to the new Disruptive Technologies Innovation Fund. However the government spend on R,D&I in 2019 will still be less than it was a decade ago. A step change in investment is required to meet the new technological and political challenges facing Ireland. Post-Brexit, we will be living in a more competitive world with greater challenges facing Irish companies, particularly those who export to the UK. Research & Innovation will be critical to remaining competitive and building stronger relationships with both existing and new UK customers. Researching and gaining deep insights into customer needs will be more important than ever.”

The IRDG is an independent, not-for-profit organisation. It provides advice to companies across all aspects of R&D policy, funding and supports. This year’s Leading Innovation for Business Growth conference is set to be the biggest yet with Leadership, Creativity in Business and Innovation as its core themes.

A limited number of tickets remain available for this year’s event. Admission costs €350pp or €325pp if 3+ people book together from the same company.

For further information please visit https://www.irdgleadinginnovation.ie/

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