A "gear change" in Ireland's rate of innovation is needed for the island to compete effectively against low-wage, newly emerging economies, the Minister of State for Enterprise, Trade and Employment has said.
At the 2003 All-Island Innovation Awards, Mr Michael Ahern said the latest EU statistics showed 49 per cent of companies in Ireland were involved in the introduction of new or improved products.
"This figure is on a par with the European average of 48 per cent but must be improved on."
He said the OECD had estimated that innovation accounted for 50 per cent of long-term economic growth in advanced industrial countries. In addition, recent EU surveys "confirm that companies with the newest and most innovative products are also the most profitable.
"As far as industry is concerned, a recent Irish survey listed a number of barriers to innovation ranging from financial shortfalls, organisational inflexibility, need of access to appropriately qualified personnel and over-regulation.
"We are, of course, striving to reduce these barriers in many different ways but it is companies like the nominees here tonight that can demonstrate vividly and practically to us all how they can be overcome," Mr Ahern told a gala audience at the Hilton Hotel, Belfast.
Also speaking at the event, Mr Bruce Robinson, permanent secretary of the Department of Enterprise, Trade and Investment in Northern Ireland, said there were encouraging signs of a growing innovation culture in the North. But "historically low levels of research and development here leave no room for complacency".
Mr Michael Austen, deputy managing director of The Irish Times, congratulated both the finalists and winners.
He said the awards were now recognised as the industry standard for innovation.
"The example from all the companies here is that there is always something to learn," he added.
Mr Alastair Hamilton, director of co-sponsors BT, also emphasised the need for continuous research and development, saying innovation was "undoubtedly the mainstay of future success for companies seeking to grow".
WINNERS AND FINALISTS
Overall winner: Punch Industries, Co Cork.
Small business winner: Andronics, Derry.
Other small business finalists: Axis Systems, Gilford, Co Down; CEL Track, Tuam, Co Galway.
Medium business winner: Andor Technology, Belfast.
Other medium business finalists: IP Europe, Wexford; Sigma Wireless, Dublin.
Large business winner: Punch Industries, Co Cork.
Other large business finalists: Bombardier Aerospace, Belfast; Galen, Larne, Co Antrim.
New technology winner: Fusion Antibodies, Belfast.
Other new technology finalists: Lightwave Technologies, Dublin; RealView Innovations, Boyle; Co Roscommon Striptec, Derry.
