Incubation has key role in hatching e-business success

Business incubation has an essential role in providing fledging entrepreneurs with the space to develop, nurture and ultimately hatch leading edge Information Communication Technology (ICT).

This was the message from Sir Reg Empey, Minister for Enterprise, Trade and Investment, during a visit to the Synergy e-Business Incubator (SeBI) located at the Springvale Business Park in West Belfast.

During the visit the Minister said: "Despite recent setbacks, ICT is still the fastest growing sector in Northern Ireland, currently employing over 10,000 people.

"Our aim is to position Northern Ireland as an internationally recognised Centre of Excellence for the development of advanced ICT products and services.

"The Synergy e-Business Incubator has a major role to play as it focuses on new ICT companies with aggressive growth plans and provides them with a unique range of facilities. This includes product and process development assistance and business support services. This facility enables the quickest possible start-up time, while offering protection and guidance during the vulnerable, early stages of their development."

The Synergy e-Business Incubator was established by Synergy Centres Ltd, a company jointly owned by ICL and the University of Ulster, to cater for the formation of new ICT based businesses.

It is to receive funding of around £1.375 million from the EU Peace and Reconciliation Fund, the International Fund for Ireland and the Industrial Research and Technology Unit, which is overseeing the project on behalf of all the funding bodies.

(MB)