Partnership to Advance the Knowledge Economy

Catalyst Inc along with Letterkenny Institute of Technology (LYIT) and Omagh Enterprise Company today announced a memorandum of understanding between the three organisations that will focus on collaboration, innovation and partnership.

This agreement recognises the similarities and complementarities of the three organisations and their shared vision to grow the regional economy as an integral part of Northern Ireland becoming one of the most entrepreneurial knowledge economies in Europe by 2030.

Through sharing networks, resources and programmes, the partnership aims to provide more opportunities for entrepreneurs to engage within the innovation ecosystem and maximise the impact of the support provided by the organisations. Omagh Enterprise Company will become a hub within the Catalyst Inc network.

Catalyst Inc was founded with a focus on developing the Knowledge Economy through increasing the scale and breadth of innovation. The 2016 Knowledge Economy report showed that Northern Ireland is the second fastest growing region across the UK with the knowledge economy representing 10% of the total economy. The challenge is to boost knowledge economy activity at a pace that exceeds other regions and then to translate this activity into economic outcomes in terms of employment and wage growth.


Partnership to Advance the Knowledge Economy

John Andy, LYIT, Nicholas O’Shiel Chief Executive, Omagh Enterprise Company, Paul Hannigan, President, LYIT and Dr Norman Apsley OBE, Chief Executive, Catalyst Inc

Speaking in Omagh, at the signing of the agreement, Dr Noman Apsley OBE, CEO Catalyst Inc commented “We have had a close relationship with Omagh Enterprise Company for many years and we are delighted to see how this has developed. The three organisations share a common vision that this regional economy can be an integral part of one of the most entrepreneurial knowledge economies in Europe by 2030. Our 2016 Knowledge Economy Report, published in November, showed that there are a number of hot spots across Northern Ireland, of which Omagh is one, and this partnership will provide additional regional support for entrepreneurs and innovative companies.”

He continued “The successful North West Regional Science Park Project is a collaboration between Catalyst Inc and Letterkenny Institute of Technology and today’s announcement with Omagh Enterprise Company will provide an important further link within the region.”

Paul Hannigan, President, LYIT welcomed the collaboration with Omagh Enterprise Company and praised the very productive relationship with Catalyst Inc. which has made this possible as well as a number of other exciting new collaborative opportunities to advance the Knowledge Economy.

Dr Nicholas O’Shiel, CEO Omagh Enterprise Company, commented “I am delighted to formalise the link with Catalyst Inc and Letterkenny Institute of Technology as it will allow us to work closer together in developing an entrepreneurial economy in the area as part of the Northern Ireland vision to support knowledge based businesses.”