We have also established an Enterprise Excellence Programme, to help create higher value-added businesses and build a more entrepreneurial culture. For businesses to start up, grow and be successful, we need a strong venture capital market. The fund will focus on the development of smaller businesses and the service sector, including tourism. Good transport links, decent housing and better schools. Fourth, we must also invest in innovation.
Innovation plays a crucial role in boosting productivity.
Northern Ireland has a growing reputation in research and development - and we will support that. We want to ensure that ideas created here are turned into successful businesses here too. This company is an excellent example of what can be achieved. We need to ensure that we take advantage of the existing science base in Northern Ireland. This is an exciting and highly significant project that will provide a centre of excellence for businesses spun out from the universities and from the Enterprise Excellence Programme.