The Ambition To Grow Programme, which was launched by Invest NI and we have mentioned previously in one of our blogs, is going to provide financial assistance and support to at least 37 local companies across Northern Ireland. The main objective of this regionally focused support plan is to support ambitious, innovative SMEs that are in the earliest stages of development and have had no support from Invest NI in the past five years. A total of £1.3 million in financial support is on offer to the businesses who have been successful in applying for help with this innovative programme.
Offering Valuable Financial Support To Create Jobs, Develop Products And Enhance Skills
Alan McKeown, Invest NI’s Executive Director of Regional Business, is quoted about this support plan in an article on the Invest Northern Ireland website, where he says that:
“We designed Ambition to Grow as a new way to attract more companies to seek our support and increase our regional impact in Northern Ireland.
“Following a competitive process we have offered 37 export driven SMEs valuable financial support to create jobs, develop new products and enhance the skills of their teams. The support being provided is not solely financial, and the new companies we are working with will now have access to the advice and expertise of teams from across Invest NI including our overseas office network in 29 global locations who will support them to successfully scale their exports and compete globally.”
A Positive Impact On Local Communities
Alan continued: “What’s great about this programme is the impact these investments will have within local communities. Once in place, the 154 jobs will contribute almost £5million in additional annual salaries to the NI economy.
“In addition, the new relationships being forged with businesses that we were previously not engaged with is likely to open conversations around investment in areas such as Research & Development and the Green Economy. This provides the opportunity to support these companies to deliver new innovation and business improvements that may not otherwise have happened.
“Investments like these will assist us to realise the ambitions in the Department for the Economy’s 10X Vision and ultimately accelerate 10X transformational change across our economy. We look forward to working with the companies to support them to grow their businesses through new employment, exports, and competing in global markets.”
We will keep a close eye on how this programme develops and hopefully we will see some great success stories over the course of the next few months and years.