Business First Issue2 Vol5 CH7:Layout 1 27/10/2009 13:58 Page 42
Northern Ireland Science Park
Innovative, knowledge based
and technology focused
Gavin Walker speaks with Frank Hewitt, chair, Northern Ireland Science Park
T
he recent Halo Business Angel private sector investment here in the future.”
Network awareness And it is this development of the private sector in general and
raising/recruitment event held at entrepreneurship in particular that Frank wants to see continue
the Northern Ireland Science Park and flourish on the site. By providing a variety of support to energetic
organised in association with British and ambitious young entrepreneurs and companies, the Science
Business Angels Association, Park helps them realise their fullest potential. Whether it is as a rent-
highlights the incredible growth in a-desk start-up on a monthly contract or a tenant with a 15 year
businesses that have benefited from lease of an entire building, the ethos of development and support is
the forward thinking incorporated available to every tenant
into the development of the Park.
“In the future we will further develop our role in establishing a
Add to that announcements of expansion such as the recent one thriving entrepreneurial eco-system where innovation, vision and
from US-based Broadsoft who are moving their operation to the talent can flourish,” Frank said. “Through our innovative NISP
Park, and increasing their workforce, and the success of the Park CONNECT programmes and in partnership with the science base in
since its launch in 1999 is undisputed. the universities and in government, we will continue to foster
Frank Hewitt, chair for the Park, commented on the far- entrepreneurship by accelerating the growth of promising
sightedness of the initial plan behind the development. “Our technologies and early stage companies.”
success to date and into the future is as a result of the decisions
taken during the development of the Park. From the high level of
connectivity throughout the four existing buildings to the flexibility
NISP CONNECT is a success story in itself. An independent, non-
of the office space, the concept has proven itself over and over
profit organization fostering entrepreneurship by accelerating the
again.”
growth of promising technologies and early stage companies, it is a
collaboration between the Park and both the University of Ulster
Frank, who took the chair in 2008, has overseen an acceleration in and Queen's.
the development with the completion of the 50,000 sq ft Concourse
building and plans already underway for the second similar sized
Through NISP Connect, client companies can take full advantage
building.
of the on-site mentoring from advisors within the Halo – seed
money and assistance with the early development of a company –
“This has facilitated bringing in new tenants into the site including and Springboard – mentoring to help company in its preparations
global market-leading technology companies like Fidessa and before presenting to venture capitalist institutions. Alongside other
Bytemobile,” Frank explained. “We also part-hosted the USNI events sponsored by the Park, these programmes are tangible
Investment conference, completed the refurbishment of the Titanic examples of how the development of ideas and locally based
Dock and Pump-House facilities and brought a serving NASA companies are encouraged by their association with the campus.
Mission Crew to Northern Ireland for the first time.”
If the overall success of the Northern Ireland Science Park is to be
Over the coming year, the Park expects a growth in tenant measured in wealth creation, then Frank points to a recent Inland
companies who in-turn will create new employment opportunities Revenue report which provides a breakdown of the wage bill for any
for the skilled local workforce across a range of technology areas. given area. “The vast majority of the employees on the Science Park
As an acknowledgement of its success and growth, enterprise are graduates with a median salary of £34,000 per annum – twice
minister, Arlene Foster helped celebrate the 10 year anniversary of the Northern Ireland average. With around 1500 people working
the Park saying, “While in the past, government has provided within the campus that equates to a wage bill well in excess of £50
financial support to the Science Park, a true testimony to its million per year. That's a pretty impressive result from what is a fairly
established success came in 2008 when a private sector co- small area,” Frank said.
investment was secured for the construction of the Concourse For more information on the Northern Ireland Science Park,
Building. This was greatly encouraging and I look forward to further
www.nisp.co.uk
Business angels heaven sent for early stage high risk companies
R
esearch published in conjunction with investments, current estimates suggest that The BBAA is working alongside the
the British Business Angels Association angels are investing c.£1billion per annum in Northern Ireland Science Park and halo
(BBAA) has proven that Business Angels the UK as a whole. This is critical at a time network supported by Invest NI and
are now the key source of investment in early when the economy grapples with finding InterTradeIreland to deliver an awareness
stage high risk companies, following a new sources of finance to build the sectors campaign including a series of workshops to
decline in more traditional forms of that will drive the economic recovery. recruit and build capacity of new angels in
investment brought about by the worldwide For the first time the research also points to Northern Ireland.
financial crisis. the type of returns business angels can A key focus is to engage the support of
The BBAA shared details of this research expect. On average they stand to make a local business organisations, finance and
with Northern Ireland business angels and substantial profit from investing in start-ups, wealth managers as well as professional
their key advisors at a Business Angel with an average Internal Rate of Return (IRR) advisors and intermediaries who can identify
awareness raising and recruitment event of 22 per cent over four years, not to mention individuals with the right profile to become
held in the Northern Ireland Science Park. the generous tax relief available to angel angel investors.
Hosted by halo, the Northern Ireland investors.
Business Angel Network, the breakfast event
was sponsored by Invest Northern Ireland.
Part of a UK wide awareness raising
campaign led by the BBAA, potential local
business angels and their key advisors heard
about the importance of angel investing, as
well as the potential returns and tax breaks
they can expect from participating in angel
activities.
According to the research carried out by
NESTA (National Endowment for Science,
Technology and the Arts,) based on an
examination of over 1000 recent
Alan Watts, Director, Halo; Anthony Clarke, Chairman, British Business Angels Association
and Helen Kirkpatrick, Invest Northern Ireland.
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