MATRIX Foresight Report Launches

Enterprise, Trade and Investment Minister Arlene Foster has launched the MATRIX Foresight Report Into the Exploitation of Intellectual Capital by SMEs in Northern Ireland.

The Minister said: "Innovation and development is vital for Northern Ireland's economic future and it is important that the small to medium sized enterprises which dominate our industrial landscape utilise knowledge efficiently, work collaboratively and exploit their intellectual capital.

"Last year I authorised MATRIX to explore the issues surrounding intellectual effort, its use and outcomes for Northern Ireland's SMEs. Not only does this report concisely convey companies' understanding of the concept but it highlights the barriers which prevent them working together and exploiting their intellectual capital.

"In examining other regions regarded as leaders in the management of intellectual capital, the report illustrates how local companies can adapt best practice and exploit new market opportunities.

"This report now provides us with a significant opportunity to enhance our ability to drive innovation through our increased knowledge of intellectual capital. My department, Invest Northern Ireland, MATRIX and other key stakeholders are currently working together to ensure local companies reap the benefit of this opportunity.

"I want to thank the MATRIX Intellectual Capital panel for their hard work and commitment in producing this report."

(CD/JP)