Following an absence of a few years, I made a return visit to this year’s Ulster University Summer Exhibition to see the work produced by our future design leaders. I was struck by the exceptional quality of the students’ digital media exhibits and the ambition of these young people to get out and sell their designs.
Creativity is most definitely alive and kicking amongst our students and they are excelling in subjects that are the cornerstone of industries creating wealth in our economy. Financial Services is one such industry that is creating employment and wealth. It is an industry that has its own nuances – to most, Financial Services are services and products provided by banking organisations but in Northern Ireland it means something quite different.
Here it is renowned for the exceptional development of innovative technologies and ICT specialisations that enables the financial centres of the world to run efficiently and effectively. So lucrative is this Capital Markets sector locally with indigenous and international companies based in Northern Ireland developinga substantial amount of the software used in Wall Street.
Understanding how this was achieved will be key to ensuring it is sustained. In the Health and Life Sciences sector, Northern Ireland is home to some of the leading global companies in Pharmaceuticals, Diagnostics and Devices – among them are Lecky Design, Eakin, Randox, Almac, Norbrook, InteleSens, Warner Chilcott and so on.
However, the drive towards connected healthcare means that healthcare communication and healthcare management are now growing economic drivers. This has been confirmed by the publication of the Connected Health and Prosperity Strategic Action Plan by the Ministers for Health and Enterprise, and the establishment of the specialist Task and Finish Group to identify potential opportunities for business development from health and social care through greater innovation and export led growth. Their report highlights specific recommendations which provide the basis for strengthening links between the economy and the health and life sciences sector.
In 2012, the Executive’s Economic Strategy highlighted energy sustainability and the green (environmental) economy sectors as key areas of growth for rebalancing the Northern Ireland economy. Some indigenous Northern Ireland companies, such as B9 Energy, are already successful and their continuing growth demonstrates the size of the wind energy sector. Our land-base has also the potential to provide a significant contribution to energy supply, complementing income generated by our healthy agri-food industries.
The recently published MATRIX Sustainable Energy Horizon Report identified the mechanism to manage complex energy sources and energy efficiency as both a challenge and opportunity for companies to capitalise on smart energy systems that require exceptional connectivity and control systems.
All of these diverse sectors have the potential to generate highly skilled jobs in Northern Ireland. While a good foundation in STEM subjects will be fundamental, underpinning all will be excellent IT skills. Thousands of people are already employed in Northern Ireland’s computing industry, but a skills shortage in ICT would have a real impact on local businesses’ ability to expand.
The recent announcement of additional 1,200 university places and extra 70 MSc in STEM-focused subjects is welcome. Since it was established MATRIX has identified opportunities in the knowledge–based economy which build on the science, technology and engineering excellence in our SMEs, international companies and our academic/research base. The actions needed to grasp these opportunities require a concerted effort by the three estates of business, academia and public sector to work together, not only on projects but also in developing capability.
Developing capability and skills needs to start early and so it is encouraging to see the actions taken by young technologists to pass on their skills and knowledge. The schemes run over this summer to introduce our young people to computing skills by some of our colleges, universities and businesses are typical of what we can do and how we can ensure that we have the workforce capable of bringing Northern Ireland out of this cycle of economic underperformance and realise a sustainable, green, clean, safe and connected future. So after my visit to the University of Ulster’s York Street campus in June, I am confident the future is bright for these students, and it’s a bright 3D digital future.