Irish businesses are competing in a rapidly changing world and are increasingly focusing on Research and Innovation (R&I) to help improve productivity, grow revenues, and build sustainable growth. R&I is essential to stay ahead in competitive and fast-changing markets and knowing where to start, what support is available, and what is the most suitable type of support for your business is crucial.
R&I is a journey and doesn’t happen overnight, and is one that involves inspiration, research, planning, collaboration and hard work, and everything in between. When innovation is supported in the right way, the impact can be transformative – helping companies to grow, internationalise and thrive. It is also helping Irish companies to accelerate growth, increase revenue and enter new markets, and has an impact on the bottom line. Enterprise Ireland (EI) supported companies who have availed of R&I supports have reported better sales, turnover and exports*:
- 1.3 times more domestic sales
- 2.5 times higher turnover
- 4.7 times greater exports
But knowing where to start can be difficult for many SMEs starting out on their R&I journey. A lack of time, know-how and resources can be a barrier and without a plan it can be very challenging to realise the benefits of investing valuable time and staff in innovation and R&I activities.
Whether it’s planning a small innovation or R&I project to develop an understanding of customer need and market demand or collaborating with external partners to find out who best to work with and how to access their expertise, getting the right help is essential.
There’s also access to a national network of Technology Gateways as well as the European Digital Innovation Hubs (EDIH), an initiative which offers SMEs access to expertise focused on improving processes, products and services through digital technologies.
With EI’s comprehensive suite of R&I supports, it is empowering Irish companies to start up, scale up and expand internationally. No matter where you are in your innovation journey, Enterprise Ireland can help.
Visit www.enterprise-ireland.com/innovation to find out more.
*Based on 2022 ABR results. Comparison based on Enterprise Ireland supported RD&I active clients versus Enterprise Ireland RD&I non-active.
