Economy Minister Gordon Lyons visted Derry/Londonderry this week to hear how the North West is leading a £63.9m project to increase productivity in Northern Ireland's smart and nanomanufacturing industry.
Derry-based Seagate Technology (Ireland) is the lead company for Smart Nano NI - the consortium which was recently awarded £42.4m by UK Research and Innovation (UKRI), to develop new technology – such as devices as small as a billionth of a metre - for medical devices, communication and data storage.
The consortium comprises of over 70 local firms and organisations from across NI including Analytics Engines, Causeway Sensors, Cirdan Imaging, Digital Catapult NI, North West Regional College, Queen’s University Belfast, Ulster University and Yelo.
Their objective is to research and bring to market new smart and nanomanufacturing products over the next five years. The £42.4m from the SIPF was awarded to create and test more than 100 prototypes.
On his visit, Mr Lyons said: “This is a significant investment which will bring together a number of world-class capabilities in advanced manufacturing materials and engineering, including the electronics and life sciences sectors.
RELATED: Over £40m awarded to NI MedTech consortium
"Our 10X Economic Vision identified these sectors as holding an important role, not only in Northern Ireland’s economic recovery, but also in helping it become of one of the leading small economies in the world," he added.
“This project itself will provide a significant economic contribution to Northern Ireland which could lead to the creation of over 500 jobs, a £250m increase in exports and the injection of around £100m in Foreign Direct Investment (FDI) over the next 10 years. It has a vital role in helping Northern Ireland realise its economic potential.”
Londonderry Chamber President Dawn McLaughlin, added that the Chamber met with Mr Lyons to discuss the Department for the Economy's High Street Stimulus Scheme and the Executive’s Covid-19 Recovery Plan, which was published this week.
"We stressed to the Minister that the plan’s actions to help the economy – such as support for skills through greater access to apprenticeships, driving innovation, supporting job creation, and reinvigorating local high streets – must be rolled out as quickly as possible and receive the necessary financial backing from the Executive to become a reality," she said.
"Businesses do not need more plans and strategies - they need swift action and committed support as they deal with the severe impact of the pandemic."
RELATED: Invest Derry Strabane chats with Version 1's Lorna McAdoo about new job vacancies
